India Digital Freight Brokerage Market Growth Is Driven Due to The Rising Adoption of Smartphones to Enhance Operational Efficiency: Ken Research
Digital Freight Brokerage is the name of an internet service that links shippers and trucking firms. It primarily connects logistics companies with a smartphone app. The shipper can enter delivery details on this app, including the pick-up location, weight, number of pallets, destination, timeframe, special needs, and more. The local truck companies can accept or reject the consignment depending on their needs and availability after the digital freight dealer notifies them of the shipment. Digital freight brokerages assist small shipping enterprises in resource conservation by offering on-demand shipping services. Due to the increase in internet usage in India, the shift toward digitalization of the trucking industry due to improved efficiency, and better truck utilization, the India Digital Freight Brokerage market will have an extraordinary double-digit CAGR development in the forecasted period of FY’2025.
According to the research report, “India Digital Freight Brokerage Market Outlook to 2025 – Marquee Investors Funding in the Space and Revenue Alternative on Return Trips to Support Market Growth” states that over the projected period of 2025, the India digital freight brokerage market would grow due to the rising adoption of smartphones and mobile applications to improve operational efficiency. Additionally, the market growth was boosted by government backing, an increase in road infrastructure projects, an increase in truck sales, and an increase in India’s road freight industry.
On the basis of Confinement, the market is divided into Intercity and Intracity. Among these two, the Intercity segment dominates the digital freight brokerage market in India due to the preference of companies for intercity movements for their distribution purpose across the country.
Based on the Carrier Options, the market is categorized into FTL, PTL, & LTL. Due to improved truck utilization and efficiency, FTL has dominated the market, and the majority of businesses require full truckloads. In contrast, LTL is the least desired category due to lower efficiency and higher costs for shippers. The India Digital Freight Brokerage Market in terms of Operating Model includes Spot-based, Loadboard, and Contract-Based Models. Among these models, the Contract based model accounts for the maximum share in the market, because large enterprises prefer these due to their regular needs for logistics.
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In terms of the Revenue Model, the market is primarily split into Commission-based and Subscription-based models. In this, the Commission-based Model is the model that is preferred by the enterprises as it is dependent on the logistics requirements of shippers, providing revenue with each booking. The End-Users segment of the India Digital Freight Brokerage Market comprises B2B and B2C. Among these, the B2B sector dominates the market due to high logistics requirements in their businesses.
The India Digital Freight Brokerage Market comprises around 20 to 25+ key players having a very low share. Among all the players, some of the players that are leading the market are Trukky, Truckola, Porter, Blackbuck, Let’s Transport, Blowhorn, and Others.
The market for digital freight brokerage in India is anticipated to expand favorably between FY’2020P and FY’2025 due to increased usage of mobile phones for enhancing operational efficiency. Future market consolidation is anticipated, with the leading companies gaining a sizable market share. The coronavirus outbreak had an influence on the market’s growth, but it is anticipated that the market will rebound and continue to expand during the forecast period.
For More Information on the research report, refer to below link:-
India Digital Freight Brokerage Market
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