USA Freight Brokerage Market Share, Revenue, Growth, Emerging Trends, Challenges and Business Opportunities 2033 by SPER Market Research
Freight broking is a type of business that serves as a middleman between the shipper and the carrier. It also improves communication between shipper and carrier. A goods broker’s role is to connect shippers with appropriate carriers to meet their transportation needs, as well as to give their clients with the most efficient and cost-effective shipping solutions.
According to SPER Market Research, ‘United States Freight Brokerage Market Size- By Commute, By Service, By End-User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the United States Freight Brokerage Market is projected to be worth USD 37.31 billion by 2033 and is anticipated to surge at a CAGR of 8.6%.
Drivers: The globalisation of trade is one of the key elements driving up the value of the goods broking sector. Rapidly growing international trade volumes have raised demand for cross-border freight services. Freight brokers are in charge of managing the complexities of international logistics, including customs clearance, documentation, and regulatory compliance.
One of the most significant trends in the freight broking industry is the increased use of digital platforms and technologies. Technological advancements have revolutionised how freight broking firms operate, making them more efficient and transparent. Digital platforms also provide real-time visibility into shipments, automate many operations, and enable data analytics.
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Restraints: It can be challenging and costly to comply with regulations, such as insurance commitments, safety standards, and licensing requirements. New regulations or modifications to current ones may have an effect on broking operations, which could lead to increased compliance costs. Overcoming these legal barriers requires ongoing effort and money, and non-compliance can lead to penalties that have a detrimental effect on the financial health of broking firms. Inadequate infrastructure, rising logistics costs, and a rise in the use of direct-to-consumer (DTC) logistics are also expected to hinder the growth of the market over the forecast period.
The Covid-19 epidemic had a major effect on the goods broking industry. Some industries saw an increase in demand, while others saw a decline as a result of changes in consumer behaviour and disruptions in the supply chain. There is a higher requirement for freight broking services to offer flexible transportation choices because of the pandemic’s emphasis on the necessity of strong and adaptable logistics networks.
Key Players:
The Midwest usually holds a dominant position in the US freight broking market. This is because of the area’s advantageous position and function as a major transportation hub, acting as a crucial conduit between the coasts and several inland places. The Midwest is the location of important transportation infrastructure, such as railroads, airports, and highways. It also handles a sizable amount of freight, especially from the manufacturing, agricultural, and automotive sectors. Major players in the market are CH Robinson, Total Quality Logistics, XPO Logistics Inc, Echo Global Logistics, and others.
United States Freight Brokerage Market Segmentation:
By Commute: Based on the Commute, United States Freight Brokerage Market is segmented as; Air, Truck, Rail, Water, Others.
By Service: Based on the Service, United States Freight Brokerage Market is segmented as; FTL, LTL.
By End User: Based on the End User, United States Freight Brokerage Market is segmented as; Manufacture and Automotive, Oil and Gas, Mining, Agriculture, Fishing, and Forestry, Construction, Others.
By Region: This research also includes data for Midwest Region, Northeast Region, Southwest Region, and West Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link: –
USA Freight Brokerage Market Outlook
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