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Overview of the freight brokerage market in the Americas
Developing regions are witnessing extensive demand for 3PL services due to the growth in transportation and logistics infrastructure. Logistics companies are competing intensely in international and domestic markets. The growing demand for outsourced 3PL services in the Americas is one of the primary freight brokerage market drivers in the Americas. The increased operational efficiency and cost savings provided by 3PL services will influence the demand for contract logistics services. With the steady capital inflow in the supply of new assets, the 3PL market in South America will witness significant growth. Furthermore, the growing investments in transport infrastructure will also provide strong scope for logistics. The freight brokerage market research has predicted this market to generate a revenue of more than USD 80 billion by 2022.
The increase in import and exports will be one of the key freight brokerage market trends. Economic development is supported by the consumption and export of products that demand efficient integrated logistics services and the management of logistics-related services and transportation. Manufacturers and retailers already demand efficient logistics services to cater to the growing trade and transportation activities.
Competitive landscape and key vendors
The freight brokerage market in the Americas is majorly fragmented owing to the presence of numerous international and regional vendors. The diversified regional vendors are competing intensely with the global vendors in terms of features and prices. Factors such as the increase in product extensions, technological innovations, and M&A will further intensify the competitive environment among the players in the transportation broker market. In the coming years, the large freight broker companies will focus on acquiring the regional or local players and grow inorganically.
According to the freight brokerage market report, the leading vendors in the market are:
Echo Global Logistics
The other prominent vendors in the market are GlobalTranz Enterprises, Roadrunner Transportation System, Unishippers Global Logistics, and Worldwide Express.
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Segmentation by service type and analysis of the freight brokerage market in Americas
Full Truckload (FTL)
Less than truckload (LTL)
The large volume of FTL freight transportation is driving the growth of the full truckload (FTL) segment in this transportation broker market. FTL is cost-effective because they do not need to be reloaded and unloaded during transportation. Uber is the primary on-demand cab service provider in this region. Uber matches shippers with carriers to provide on-demand long-haul trucking service.
Geographical segmentation and analysis of the freight brokerage market in Americas
The growing freight transportation in the US is contributing to the high revenue share of US in this transportation broker market. The growing demand for freight transportation and the rising support from the government will drive the growth of the freight brokerage market in this region. Additionally, the rising population and the increase in economic activities will further boost the growth of the market in the US.
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Key questions answered in the report include
What will the market size and the growth rate be in 2022?
What are the key factors driving the freight brokerage market in Americas?
What are the key market trends impacting the growth of the freight brokerage market in Americas?
What are the challenges to market growth?
Who are the key vendors in the freight brokerage market in Americas?
What are the market opportunities and threats faced by the vendors in the freight brokerage market in Americas?
Trending factors influencing the market shares of the Americas.
What are the key outcomes of the five forces analysis of the freight brokerage market in Americas?