Artificial Intelligence
The Global Freight Transport Market size is expected to reach $57.1 billion by 2028, rising at a market growth of 10.8% CAGR during the forecast period
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Freight Transport Market Size, Share & Industry Trends Analysis Report By Offering, By Mode of Transport, By Vertical, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06412042/?utm_source=GNW
For instance, Canada and the European Union agreed to a thorough economic trade pact. 98% of the tariffs on European goods traded across Europe and Canada are being eliminated by the Canadian government as a result of this agreement. By lowering commodity prices, which naturally boosts demand for freight transportation, such agreements help the freight transport market expand.
Many freight transportation management solutions, including fleet tracking & maintenance, warehouse management system, security & monitoring system, and 3PL solutions, can be used to address logistics issues because end-users and manufacturers in developing nations, like India, lack the internal control necessary to do so. This aspect stimulates the development of the target market as a whole.
Additional factors driving the demand for specialist freight transport and supply chain execution competencies include the expansion of e-commerce and entrepreneurial endeavors. Because logistics, inventory, and fixed expenses are reduced when shippers hire freight transportation services, they benefit.
Numerous businesses have outsourced their freight transport operations as a result of globalization since they are unable to manage global supply chain activities. Cargo transportation businesses offer better and more creative ways to maximize the efficiency of their services, offering benefits including lower capital costs, door-to-door service, flexibility, and a lower chance of damage during transit.
COVID-19 Impact Analysis
Global supply chain activities have been adversely affected by the COVID-19 pandemic. The crisis put unheard-of pressure on the logistics and transportation systems. Lockdowns were put into place in a number of nations, which caused uncertainty for the shippers while shipping their products. The logistics networks were disturbed by the imbalance between supply and demand, along with the lack of long-haul and last-mile fulfillment service capacity, which limited the growth of the freight transport sector. A decline in consumption has also been seen on the demand side.
Market Growth Factors
Rapid Industrialization And Increasing Acceptance Of Industry 4.0
It is anticipated that rapid industrialization and the growing adoption of Industry 4.0 will enable the manufacture of high-quality goods at low cost. Road freight transportation is the best option for Industry 4.0 since it provides flexible and more affordable short-distance transit. Additionally, the demand for food, beverages, and other consumer goods is anticipated to rise with population growth, supporting market growth. The future of the global supply chain is finally beginning to be shaped by Industry 4.0 as a true driving force. Thus, the market for freight transportation is driven by the growing use of Industry 4.0.
Escalating Need For Prompt Delivery
In particular, the logistics sector has seen an increase in the need for on-time delivery, which has evolved into a crucial differentiator among its rivals. The market has grown due to the introduction of numerous technologies in freight transportation for efficient management of the transportation process. One-third of the cost of logistics is accounted for by transportation management, which has a significant impact on how well the market as a whole performs. For brands, increased client retention is facilitated by on-time delivery. As a result, the market for freight transportation is driven by the rising need for on-time delivery.
Market Restraining Factors
Increased Carbon Emissions
As pandemic restrictions were eased and passenger and cargo traffic picked up after a historic fall in 2020, world Co2 emissions from the transport industry recovered in 2021, rising by 8% to over 7.7 Gt CO2. a number of variables, including the increased carbon emissions brought on by the usage of diesel fuel in road transportation. Transport emissions are rising far more quickly than GDP in many emerging nations. Thus, the growth of the freight transportation market is being hampered by rising carbon emissions.
Offering Outlook
Based on offering, the market is categorized into Solutions and Services. In 2021, the service segment accounted for a large share of the revenue. On the basis of service offerings, the service segment is further categorized into Managed services, business services, and system integration. The demand for freight management services, which help companies deliver freight and complete the supply chain effectively and economically, is primarily responsible for the segment’s rise.
Mode Of Transportation Outlook
Based on the mode of transportation, the market is categorized into railways, roads, seaways, and aviation. During the forecast period, it is anticipated that the Seaways & airways segment will develop at a promising rate. The adoption of sustainable aviation fuels in response to climate change, speedier delivery, and rapid airport building in developing nations are all factors contributing to the growth of this market.
Verticals Outlook
Based on verticals, the market is categorized into Retail & E-commerce, Automotive, Aerospace & Defense, Pharmaceuticals, Energy, and Others. The pharmaceutical segment is anticipated to expand at significant growth during the anticipated period. The most important link in a logistical network is pharmaceutical transport since the commodities being delivered are meant for human consumption. To guarantee that the drugs are delivered to the end user in the proper manner, total control over the entire distribution chain is necessary.
Regional Outlook
Based on geography, the market is categorized into North America, Europe, Asia Pacific, and LAMEA. North America dominated the global market in 2021 and is predicted to maintain its dominance during the forecast period. Due to the presence of numerous significant logistics businesses, e-commerce behemoths, and suppliers of freight solutions in the United States and Canada. The continuing development and uptake of emerging technologies like artificial intelligence, machine learning, and near-field communication also contribute to the expansion of the market.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; United Parcel Service, Inc. is the forerunner in the Freight Transport Market. Companies such as Oracle Corporation, FedEx Corporation, and SAP SE are some of the key innovators in Freight Transport Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include C.H. Robinson Worldwide, Inc., Deutsche Post DHL Group (The Deutsche Post AG), FedEx Corporation, Kuehne + Nagel International AG (Kuehne Holding AG), United Parcel Service, Inc., SAP SE, Oracle Corporation, Schneider National, Inc., DSV A/S, and Nippon Express Co., Ltd.
Recent Strategies Deployed in Freight Transport Market
Partnerships, Collaborations and Agreements:
Oct-2022: Kuehne+Nagel entered into a partnership with Pepco, a fast-growing retailer engaged in providing apparel for the entire family and household products at very low prices. Under this partnership, Kuehne+Nagel would offer automation and warehousing specialization for the Bulgarian, Romanian and Greek markets. Moreover, this partnership not only addresses Pepco’s requirement for speed and agility but also serves for a better sustainable future.
Jun-2022: Oracle partnered with Kyndryl, an IT infrastructure services provider. The partnership is aimed to help customers boost their journey to the cloud by providing managed cloud solutions to enterprises across the world.
Apr-2022: United Parcel Service (UPS) signed an agreement with Jumia, the Pan-African e-commerce platform. Through this Agreement, Jumia would extend to extend United Parcel Service’s logistics abilities and infrastructure for enhancing its delivery service offering in Africa.
Feb-2022: C.H. Robinson partnered with Waymo via, an autonomous driving solution for moving goods. Through this partnership, Companies would integrate C.H. Robinson’s Navisphere technology, one of the most connected platforms with the Waymo Driver, an autonomous driving technology. Moreover, this partnership would structure upcoming developments and broaden autonomous driving technology as an extra transportation solution.
Jan-2022: FedEx Corporation came into collaboration with Microsoft Corporation, a technology corporation engaged in the production of computer software, consumer electronics, and personal computers. Through this partnership, companies would transform logistics, commerce, and supply chains. Additionally, FedEx would integrate FedEx network intelligence with abilities from Microsoft Dynamics 365 to unveil “logistics as a service”, a cross-platform for merchants, brands, and retailers.
Dec-2021: FedEx Express, a subsidiary of FedEx Corp., came into partnership with Delhivery, the fully-integrated logistics services player in India. Under this agreement, both companies would offer advanced solutions and services aimed to enhance efficiency, speed, and access for Delhivery and FedEx customers to open up India’s ability in International trade.
Oct-2021: Kuehne+Nagel announced its expanded partnered with Blume Global, a provider of supply chain execution and visibility technology solutions. Under this partnership, Blume would offer Kuehne+Nagel a cognitive intermodal TMS, among other solutions, for its complete North American business.
Jun-2021: United Parcel Service partners with ParcelHub, a retail business company with expertise in offering courier service and fulfillment centers. Under this partnership, United Parcel Service would extend its retail footprint in Malaysia and capitalize on the region’s growing logistics and e-commerce demand.
Jul-2020: United Parcel Service partnered with Estafeta, an express and logistic service company for online retailers. This partnership would allow small and midsize businesses (SMEs) in Mexico to reach over 220 countries and territories across the world, also customers in the United States within a business day.
Acquisitions and Mergers:
Nov-2022: UPS acquired Bomi Group, a provider of healthcare logistics. Under this acquisition, UPS Healthcare, a healthcare unit of UPS would add temperature-controlled facilities in 14 countries across Latin America and Europe.
Sep-2022: DHL Supply Chain acquired Monta, a Dutch fulfillment provider. Under the acquisition, DHL would improve its response to the requirements of Small and Medium Enterprises and smaller online stores.
Jun-2022: Schneider acquired deBoer Transportation, a regional and dedicated carrier. This acquisition aligns with Schneider’s strategy and combines deBoer Transportation into existing businesses of Schneider with equipment and drivers offered to assist growth opportunities in power-only and dedicated operations.
Mar-2022: Deutsche Post DHL Group completed the acquisition of J.F. Hillebrand Group AG, a company with expertise in the logistics of beer, spirits, and wine. Through this acquisition, Deutsche Post DHL Group would add multiple services to its ocean freight offering, which would reinforce longstanding client relationships and income from the beginning.
Jan-2022: Schneider completed the acquisition of Midwest Logistics Systems, a truckload carrier based in Ohio, United States. Through this acquisition, Schneider would increase annual revenue in its operations with more than 5000 trucks.
May-2021: C.H. Robinson took over Combinex Holding B.V., a company specializing in transport services for dry goods and fresh & frozen goods. Under this acquisition, C.H. Robinson would reinforce its presence in Europe specifically in Western Europe. Moreover, Combinex would deliver more haul abilities with a dedicated fleet, broadening its footprint in the short-medium haul market.
May-2021: Kuehne+Nagel took over Apex International, a global player in anilox and embossing technologies. This acquisition aimed to broaden Kuehne+Nagel’s presence in the Asian market, particularly on the transpacific and intra-Asia trade routes.
Mar-2020: C.H. Robinson completed the acquisition of Prime Distribution Services, a North American provider of retail consolidation and value-added warehouse services. This acquisition would broaden C.H. Robinson’s retail consolidation business and delivers additional abilities, specialization, and scale to the company’s offering.
Scope of the Study
Market Segments covered in the Report:
By Offering
• Services
• Solution
o Freight Security & Monitoring System
o Fleet Tracking & Maintenance Solution
o Warehouse Management System
o Freight Information Management System
o Freight Transportation Cost Management
o Freight Mobility & Operational Management Solutions
o Freight 3PL Solution
By Mode of Transport
• Roadways
• Railways
• Seaways & Airways
By Vertical
• Retail & E-commerce
• Automotive
• Aerospace & Defense
• Pharmaceuticals
• Energy
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• C.H. Robinson Worldwide, Inc.
• Deutsche Post DHL Group (The Deutsche Post AG)
• FedEx Corporation
• Kuehne + Nagel International AG (Kuehne Holding AG)
• United Parcel Service, Inc.
• SAP SE
• Oracle Corporation
• Schneider National, Inc.
• DSV A/S
• Nippon Express Co., Ltd.
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• Highest number of market tables and figures
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Artificial Intelligence
Complyport’s new AI tool – ViCA.Chat – set to revolutionise compliance support services
LONDON, June 14, 2024 /PRNewswire/ — ViCA.Chat, the Virtual Compliance Assistant powered by AI technology, is set to transform regulatory compliance consulting. Developed by ComplyMAP Group’s AI engineers and Complyport’s compliance consulting teams, ViCA redefines compliance support services and propels governance, risk and compliance consulting into a new era of innovation.
Offering real-time assistance across a vast array of UK and EU regulatory frameworks, ViCA delivers unparalleled efficiency, detail and precision in disentangling and dealing with complicated regulatory frameworks.
The key differentiator of ViCA is its specialised and purposely constructed unique databases that leverage Complyport’s 22 years of regulatory expertise, combined with tailored AI training tools, enabling ViCA to operate as an experienced compliance consultant. A dedicated human support team continuously improves and updates ViCA’s knowledge and responses through a feedback loop process and quality assurance sessions. This powerful symbiosis of AI and human expertise sets ViCA apart and ensures businesses have the latest regulatory information instantaneously and seamlessly.
As a result, ViCA’s specialised regulatory database goes beyond readily available online resources which feature into traditional AI tools. ViCA offers exclusive insights, proprietary regulatory interpretations, historical data, bespoke and purposely structured compliance documentation and templates. With advanced scraping capabilities, ViCA also extracts relevant data from selected websites and publicly available information, ensuring an up-to-date and comprehensive understanding of compliance requirements across industries.
From agile fintech startups to established law firms, financial institutions, regulatory bodies, insurance providers, as well as compliance consultants, ViCA seamlessly adapts to unique compliance needs. Its user-friendly interface ensures navigating and analysing regulatory data is swift and intuitive, streamlining the compliance workflow.
“ViCA is a game-changer in how regulatory compliance advice will be provided in the future”, commented Luis Parra, Managing Director of ViCA. “With ViCA, compliance insights become available to all. No longer are regulated firms and responsible people overly dependent on advisors and compliance consultants. Through ViCA, the financial system will not only meet but exceed regulatory standards. Moreover, the level of information made available to the public will benefit society as a whole, in its interactions with the financial services sector.”
Among ViCA’s revolutionary features is its cost-effective model, allowing businesses to significantly reduce reliance on traditional spending with external consultants and advisors.
Visit ViCA.Chat to experience the future of compliance support.
Contact:
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About ViCA.Chat:
ViCA.Chat is a revolutionary Virtual Compliance Assistant powered by cutting-edge AI technology, designed to demystify the complexities of regulatory compliance. Utilising Complyport’s 22 years of regulatory expertise, ViCA offers real-time assistance and guidance across a wide range of regulatory frameworks, setting a new standard for efficiency and precision in compliance support. From fintech start-ups to established law firms, financial services institutions, regulators, regulatory firms, compliance consultants and insurance firms, ViCA caters to the diverse needs of professionals across all levels in the broader UK financial services sector.
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Artificial Intelligence
LoRa and LoRaWAN IoT Market worth $32.7 billion by 2029- Exclusive Report by MarketsandMarkets™
CHICAGO, June 14, 2024 /PRNewswire/ — The LoRa and LoRaWAN IoT Market is expected to reach USD 32.7 billion by 2029 from USD 8.0 billion in 2024, at a Compound Annual Growth Rate (CAGR) of 32.4 % during 2024–2029, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “LoRa and LoRaWAN IoT Market”
320 – Tables 58 – Figures294 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
Offering, Network Deployment, Application, End User, and Region
Region covered
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
List of Companies in LoRa and LoRaWAN IoT
The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US).
The LoRaWAN ecosystem influences development of tools, software libraries, and cloud-based platforms that streamline the creation, deployment, and management of IoT solutions. Continuously evolving, this ecosystem boasts a burgeoning array of vendors providing LoRa-compliant devices, gateways, and network management solutions. This vibrant competition within the ecosystem propels innovation while driving down costs for end-users. Moreover, the development of interoperable solutions fosters seamless integration and deployment of LoRaWAN networks, simplifying the implementation process for businesses and organizations. As the ecosystem continues to expand and mature, it empowers developers, system integrators, and IoT enthusiasts to unleash their creativity, accelerate time-to-market, and unlock the full potential of LoRaWAN technology in diverse applications and industries.
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Based on network deployment, the public network segment to hold the largest market size during the forecast period.
The robust security features integrated into public LoRaWAN networks play a significant role in driving the growth and adoption of LoRaWAN technology in the market. End-to-end encryption ensures that data transmitted between devices and gateways is protected from unauthorized access or interception, safeguarding sensitive information such as sensor readings, location data, and command messages. Message integrity checks verify the integrity of data packets, detecting any tampering or alteration during transmission and ensuring data authenticity and reliability. Additionally, mutual authentication mechanisms establish trust between devices and gateways, verifying the identity of both parties before allowing communication to occur. These security measures provide organizations and end-users with confidence in the integrity and confidentiality of their data, mitigating concerns related to data privacy, cybersecurity threats, and regulatory compliance. As a result, implementing robust security features in public LoRaWAN networks enhances trust and credibility in the technology, driving increased adoption and market growth as organizations seek reliable and secure connectivity solutions for their IoT deployments.
By offering, the services segment is expected to hold a higher growth rate during the forecast period.
IoT service providers are pivotal in driving adoption by developing vertical-specific solutions finely tuned to the distinct needs of industries like agriculture, healthcare, logistics, and smart cities. In agriculture, for instance, IoT services offer solutions for precision farming, crop monitoring, and livestock management, enabling farmers to optimize irrigation, monitor soil health, and enhance yields. Similarly, IoT services facilitate remote patient monitoring, asset tracking, and inventory management in healthcare, improving patient care, reducing costs, and ensuring compliance with regulatory standards such as HIPAA. In logistics, IoT services provide real-time tracking of shipments, fleet management, and predictive maintenance, enhancing supply chain visibility, efficiency, and reliability. For smart cities, IoT services offer solutions for traffic management, waste management, energy optimization, and public safety, transforming urban infrastructure and enhancing the quality of life for residents. By addressing industry-specific challenges, compliance requirements, and use cases, vertical-specific IoT solutions deliver tangible business value, driving adoption and fueling the growth of the IoT services market across diverse sectors.
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Asia Pacific is expected to hold a higher growth rate during the forecast period.
In the Asia Pacific region, where agriculture serves as a cornerstone of many economies, adopting IoT technologies, particularly LoRa and LoRaWAN, is revolutionizing traditional farming practices. LoRaWAN’s long-range connectivity and low-power consumption make it well-suited for deployment in rural agricultural settings, where access to reliable connectivity may be limited. Through LoRa-based IoT solutions, farmers can implement precision agriculture techniques to address pressing challenges such as water scarcity, soil degradation, and unpredictable weather patterns. LoRa-enabled sensors facilitate real-time monitoring of soil moisture levels, temperature, and humidity, allowing farmers to optimize irrigation schedules and conserve water resources. Remote sensing technologies powered by LoRaWAN enable farmers to gather actionable insights on crop health, pest infestations, and nutrient deficiencies, facilitating timely interventions and improving overall crop management practices. Furthermore, LoRa-based crop analytics platforms provide farmers with data-driven decision support tools, helping them optimize planting strategies, improve yield forecasting, and mitigate the impact of climate change on agricultural productivity. By harnessing the power of LoRa and LoRaWAN IoT solutions, farmers in the Asia Pacific region can increase yields, conserve resources, and enhance resilience to environmental challenges, driving the adoption and growth of the LoRaWAN IoT market in the agricultural sector.
Top Key Companies in LoRa and LoRaWAN IoT Market:
The major vendors covered in the LoRa and LoRaWAN IoT Market are The Bosch Group (Germany), Cisco (US), Orange SA (France), Comcast Corporation (US), Semtech (US), NEC Corporation(Japan), Tata Communications (India), AWS (US), Advantech (Taiwan), SK Telecom (South Korea), Murata (Japan), Kerlink (France), Actility (France), Digi International (US), MultiTech (US), Ezurio (US), Sensoterra (Netherlands), Nwave Technologies (US), RAKwireless (China), TheThings.io (Spain), Datacake (Germany), Milesight (China), LORIOT (Switzerland), Exosite (US), Orbiwise (Switzerland), Netmore Group (Sweden), and Radio Bridge Inc (US). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the LoRa and LoRaWAN IoT Market.
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
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Artificial Intelligence
Scoring a Seat at UEFA EURO 2024™ with Top-Performing AI-Powered TOSHIBA TV Lineup
HONG KONG, June 14, 2024 /PRNewswire/ — Football fans are in for a treat as they gear up for UEFA EURO 2024™ with Toshiba TV’s top-performing Gaming TV Z670. As the OFFICIAL TV OF UEFA EURO 2024™, Toshiba TVs present immersive viewing of the football game by their AI-powered TV lineup. To celebrate the brilliant moments it can bring, Toshiba TV are gifting USD100 Amazon Gift Card via their social platform! By simply like, follow and comment on @ToshibaTVGlobal, fans can boost their chances of scoring this prize.
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