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Cargo Management Technology Solutions Market Segmented By Cloud-Based, On-Premise, Hybrid Deployment in Manufacturing, Trading, Travel & Tourism, Logistics, Courier & Delivery Services industry
The market of cargo management technology solutions is expected to grow at a CAGR of 17.6% during the forecast period 2021-2031. Cargo management solutions are deployed to meet the needs of water, air, road cargo and freight transportation companies. With the help of these solutions, users can track their shipments in real time 24/7.
Cargo management technology solutions are used to transport industrial and passenger cargo from one place to another securely and safely. Cost-effective and alternate routes for faster and easier transportation is provided by cargo management solution.
In-addition, cargo management solution also offers carrier and vendor communication tools along with maintenance and warehousing solutions for safety and preservation of goods. Cargo management solution providers are developing advance software’s by integrating technologies like analytics and cloud computing to increase efficiency and better management of cargo.
Further, this is providing benefits to the end-users such as manufacturing, travel & tourism, courier, logistics, trading and others. Some of the major factors driving the growth of cargo management technology solutions are need to control time-in-transit, increase in global trade and growth in communications technologies.
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Due to outsourcing and high growth in manufacturing activities, the demand for cargo management solutions is expected to increase in coming years. There is an increase in need for security and safety of shipments and this further drives the growth of cargo management technology solutions.
Some of the major concerns are cost-effectiveness and timely delivery for regular shipping and trading organizations. Cargo management technology solutions is addressing these concerns by providing tools. This is further helping the cargo management technology solutions market to grow in upcoming years.
There is a rise in necessity for faster and better transportation and air cargo volumes. This leads the way for an increase in requirement for cargo management technology solutions for managing these concerns. The market of cargo management technology solutions is including integration of software for workforce management, customer relationship and finance management as there is a continuous advancement in technology.
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Get a Customized VersionThere is an increase in use of cloud-based systems for transportation management as these platforms leverage model like software-as-a-service (SaaS). A hassle-free way to use innovative IT resources and unlimited scalability are given by cloud-based platforms to companies.
Companies are deploying cloud-based platforms for higher returns and profitability. Thus, increased adoption of cloud-Based Systems will contribute to the growth of cargo management technology solutions.
Business are investing in data technologies, which is further removing digital divides in supply chains. Due to mobile data capture, logistics and transportation firms are implementing end-to-end asset tracking with greater transparency and visibility.
The technology of optical character recognition (OCR) is helping businesses to scan and digitize analog data such as, purchase order numbers, container numbers and seal numbers.
The demand for cargo management technology solutions is anticipated to grow at a significant rate in North America due to heavy investment in transportation management system. In addition, North America has majority of the key vendors of cargo management technology solutions. This is one of the major factor driving the growth of this market in countries like United States and Canada.
All the major industries in the region such as manufacturing, travel & tourism, courier, logistics, trading are moving towards the adoption of cargo management technology solutions for security and safety of shipments. Especially, logistics industry of this region have shown a keen interest in implementing cargo management technology solutions.
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Europe region is expected to emerge as the fastest growing market in cargo management solutions due to high adoption of advanced technologies. Many key vendors of cargo management technology solutions in the region are aiming for product strategies, collaboration and acquisition to extend their business presence.
The rising demand for the development of new technologies and use cases are creating many opportunities for cargo management technology solutions market in Europe region. In-addition, many firms are moving towards the online channel in retail sector in the region. This too is contributing to the growth of cargo management technology solutions in Europe region.
are some of the key players in the cargo management technology solutions market. These companies are increasing their market share through strengthening customer relationships, innovation, smart hiring practices, and acquiring competitors.
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By End-Use Industry
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
