Key Players:
Key Players of Air Freight Software Market Freightdata 2000 (UK), Freightos (Hong Kong), FreightPOP (US), Freightview (US), Hard Core Technology Corp. (US), Infor (India), Magaya (US), Riege Software International GmbH (Germany), Shiprocket (India), The Descartes Systems Group Inc. (US).
Market Overview:
The Air Freight Software Market size is projected to register a CAGR of 8.2% from 2020-2027. Air freight software is a cutting-edge technology solution. It is mostly used for real-time freight acceptance control, which increases cargo management solutions' performance and reliability.
The program is utilized for various purposes, and a dashboard is supplied to help manage lucrative shipments at a lower operational cost. End-users can automatically use airfreight software to arrange cargo shipments and analyze pricing decisions.
High demand for air freight software for air cargo services is projected to propel the industry forward. Furthermore, the market is expected to grow as the demand for revenue management and implementation in logistic services grows.
Market Segmentation:
The Air Freight Software Market is divided into type and end-user.
By Type
The on-premise and cloud-based sectors of the Air Freight Software Market Insights are separated. The company's servers are run in the on-premise sector. The Air Freight Software Market grew steadily during the forecast period due to its widespread use. The vendor's server hosts the cloud-based parts, which may be accessed using a browser.
By End-User
The Air Freight Software Market Size is divided into third-party logistics, brokers, forwarders, and shippers in the end-user category. Since its broad use, third-party logistics stands out as the most dominant segment.
Industry news:
The global economy relies heavily on air cargo. The worldwide air cargo industry is expanding at a rapid pace. According to a survey published in February 2018 by the International Air Transport Association (IATA), air cargo accounts for more than 35 percent of worldwide trade in terms of value. The International Air Transport Association (IATA) also predicted a steady increase in freight transported in 2018 to 62.5 million tonnes.
Furthermore, by the end of 2018, the value of goods is predicted to increase to US$ 6.2 trillion. The amount is estimated to amount to 7.4 percent of global GDP. Many major sectors, such as pharmaceuticals, electronics, fast-moving consumer goods, and e-commerce, rely significantly on air transportation to deliver items quickly and efficiently. In reality, live animals are regularly transported by air from one location to another. Nevertheless, instead of being a driving force in the global economy, the air freight industry is confronted with several issues. These issues are primarily concerned with long-term viability, profitability, and customer pleasure. As a result, one of the air cargo industry's top concerns today is to streamline the shipping operation to provide better customer service.
Regional Analysis:
The Air Freight Software Market Outlook is divided into several regions throughout the world, as per the geographical studies, including North America, Asia Pacific, Europe, and the Rest of the World. Because of participants in the area, the North American area has recently been deemed the dominant region amongst the aforementioned geographical regions. Large-scale investments by prominent players are driving the marketplace in this area.
Due to growing air travel and transportation in nations such as the United Kingdom, France, Germany, and many others, the European Market is predicted to rank as the second-largest area. Due to the rise of the e-commerce business in nations such as China and India, the Asia Pacific market would record as the quickest area over the assessment period. Other areas, like the Middle East and Africa and Latin America, are expected to rise steadily in the coming years.
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