Freight broker companies play an essential role in the transportation industry, connecting shippers and carriers. The entire brokerage network has been growing tremendously for the past few years all over the globe, including North America.The introduction of digital freight brokers has further revolutionized the market. 

The boost in the digital freight network is due to the rise in smartphone usage, better wireless connectivity, and other digital advantages that provides accuracy, efficiency, and reduced costs. The global freight brokerage market is projected to make USD 85,000 million by 2026, growing at the Compound Annual Growth Rate (CAGR) of more than 43 percent between 2018 and 2016.

This latest craze in logistics is also known as the urbanization of trucking. It utilizes advanced technology and innovative apps in the supply chain. The on-demand and app-based trucking are gaining quite a number of investments and attention. 

Categorization of Digital Freight Brokerage

Digital freight brokerage is categorized into different segments based on type, vertical and geography. 

Based on Type

On the basis of type, digital freight is categorized into the roadway, railway, airway, and seaway. The roadway accounts for the highest share in digital brokerage management in the last three years and is expected to remain top in the coming future. The roadway is a flexible mode to transport goods, utilizing cargo space and avoiding substantial brokerage fees. After roadway, the seaway segment is expected to gain the highest CAGR by 2026. 

Based on Vertical

E-commerce and retail, food and beverages, manufacturing, automotive, healthcare, aerospace and more are the key verticals in the global freight brokerage market. In the last three years, the retail segment had the highest share of more than 30 percent CAGR. Their large transportation and shipping requirements are the most contributing factors in the high growth rate of the digital freight market. 

Based on Geography

The major regions of the global digital freight market are North America, Latin America, Europe, Pacific Asia, and the Middle East. The expected region to remain at the top are North America and Europe because of the rising e-commerce, food and beverages, healthcare, and automotive industries. Pacific Asia, especially China and India, is expected to give more than 45 percent CAGR.

Freight Brokerage in Vancouver

SPI Logistics is ready to work with you if you are looking for one of the top broker companies in Canada and the US. They have a thriving network of independent agents, aiming to expedite your progress and success. 

To know more about Freight Trucking Companies in Vancouver please visit our website: spi3pl.com