- Water
- Road
- Rail
- Air
Cargo Management Market size was valued at USD 16,537.8 million in 2022 and it is expected to reach USD XX million in 2029, growing at a 3.7% CAGR from 2023 to 2029. Cargo management is designed to fulfill the needs of water cargo, road, rail, and air cargo, to manage such cargo solutions software deployed to transport and for tracking the products. Cargo management solutions encryption software provides communication between to vendor and the transporter and provides tracking of the order. Population growth and an increase in manufacturing demand various cargo management solutions to perform transport efficiently. Higher in the demand for transport activity worldwide also increase in export and import activity drives the market of cargo management. E-commerce websites and an increase in production lead to various opportunities in the cargo management market. Global cargo management of export and import covers 80% of demand availability around the world.
Cargo Management Market Key Developments:
In January 2023, Amazon launches a dedicated Air cargo service in India to speed up deliveries.
In September 2022, Mediterranean Shipping Co., the world’s largest container line, will expand into air cargo using four leased Boeing Co. wide-body freighters after missing out in a bid for Italy’s flag-carrier airline.
Study Period
Base Year
CAGR
Largest Market
Fastest Growing Market
The rising number of fast courier deliveries across the world is the major driving factor for the Cargo Management Market during the forecast period. E-commerce is the major market driver in cargo shipping when any order is placed, the company wants instant deliveries of that product which influence the use of the fasted mode of transportation, Air cargo is the fastest transportation mode, and the cost factor makes it an expensive way for transport. Hence, this will drive global market growth at a significant rate.
Cargo Management Market was valued at USD 16,537.8 million in 2022 and it is expected to reach USD XX million in 2029, growing at a 3.7% CAGR from 2023 to 2029
The leading players in the Cargo Management Market are; J. B. Hunt Transport Services, Inc., C. H. Robinson Worldwide Inc., Ceva Holdings LLC, FedEx Corporation, United Parcel Service of America Inc., Expeditors International of Washington Inc, XPO Logistics Inc, and Kenco Group Inc.
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation, and Seven years forecast is presented from 2023 – 2029.