Cargo Logistics Brokerage Industry
Description
The cargo logistics brokerage is an emerging market across the globe. Cargo logistics brokerage refers to a business that has many participants but few distinct leaders. A freight broker refers to someone who helps the shippers in getting freight ready and availing the carries as per the requirement of the shippers. The incorporation of the latest technologies is the recent advancement in the global cargo logistics brokerage market. The global market of cargo logistics brokerage is anticipated to grow during the forecast period.
The companies involved in cargo logistics brokerage help in designing and managing the supply chain network for efficient delivery of goods and reduction in the operational costs for the end-users. The companies offer a wide range of service, including effective cargo management and custom brokerage services. The growing demand for effective supply chain management is one of the key drivers of the growth of the global cargo logistics brokerage market.
The broker acts as an intermediate between the shippers and the carriers for effective management and transportation of goods from the source point to the destination point. Many different enterprises opt for cargo logistics brokerage services for the effective transportation of manufacturing goods. The increase in the demand for logistics and transportation services among the end-user industries due to the increase in industrial production is boosting the growth of the global market.
The key players covered in this study :- C.H. Robinson, Expeditors, Landstar System, TQL, Coyote Logistics, XPO Logistics, Yusen Logistics, Echo Global Logistics, JB Hunt Transport, Worldwide Express, Hub Group, GlobalTranz Enterprises, Allen Lund, Transplace, Werner Logistics, BNSF Logistics
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Market Fragmentation
The global market consists of various segments depending on a different basis. The global cargo logistics brokerage market is fragmented based on type, application, and geography.
Depending on the type, the global market is segmented into truckload, LTL, and other types.
Based on the application, the cargo logistics brokerage market is divided into food and beverage, retail, manufacturing, auto and industrial, chemical, and other applications. The retail application is the leading segment in the global market. The increase in the transportation of retail products is responsible for the growth of the market segment.
Regional Outlook
Based on geography, the global cargo logistics brokerage market includes Asia Pacific, North America, Middle East, and Africa, South America, and Europe.
The Asia Pacific region includes China, India, Korea, Japan, and Southeast Asia. The key contributors to North America are Canada, Mexico, and the United States. The Middle East and Africa region include Saudi Arabia, Israel, Iran, Turkey, and South Africa. The South America region includes Argentina, Brazil, and Colombia. The major contributors to the Europe region are France, Spain, Italy, Germany, Russia, and the UK.
The North America region holds the dominating position across the globe. The Europe region occupies the second leading position in the global market.
Trending Industry News
In March 2019, C. H. Robinson acquired The Space Cargo Group for expanding its global network. The acquired company, Space Cargo, is a leading provider of customs brokerage, international freight forwarding, and logistics services in Colombia and Spain. The acquisition is expected to enhance the supply chain services offered to the customers. The acquisition will add scales of opportunity for the global growth of C.H. Robinson.
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