Growth and Future of Freight Forwarding Market by 2020

Freight forwarders are agents that offer shipment solutions for different types of industries. They take up the responsibility of transporting products, machines and other types of items from manufacturers to the final destination. Freight forwarding companies perform the transportation tasks by themselves or partner with shipping line carriers to move cargo of any nature. Top companies ensure a safe and secure network of cargo movement at best prices. They also work as supply chain experts and the solutions they provide include documentation, invoicing, warehousing, packaging, shippers export declaration and distribution. What about the growth and future of freight forwarding market by 2020?

Freight Forwarding Market

Expect innovation in freight forwarding and cargo supply chain because of market pressures

It is needless to say that transportation and logistics from the backbone of the world economy. According to various studies, amazing transformation is going to occur in the global cargo industry, especially air freight forwarding by 2020. The market pressures are going to bring innovation in different areas of the cargo supply chain. The warehouse concepts will become smarter and you can expect the takeoff of drones in the cargo supply chain. Improved multidimensional alliances between airlines and global distributors are going to encourage longer term capacity management in the warehouse.

Embracing latest technology has become an inevitable aspect to meet customer needs

Technological advances are making revolutionary changes in many sectors. In fact; many businesses and industries are making use of the amazing potential technologies offer. Freight forwarding companies are now forced to embrace technology and innovation to make their services more dynamic, proactive and efficient in this fiercely competitive and price conscious business environment. Several freight forwarding companies have started embracing disruptive technologies including digital assistants and Internet of Things (IoT) and they have managed to take their efficiency into a different level. If a logistic company wants to fulfill customer expectation with a transparent approach, it has to embrace the latest technology.

One-stop destination with downstream and upstream value added services   

One of the most obvious ways in which logistic companies and freight forwarders have become successful in leveraging their relations with multinational shippers is by adding a broad range of downstream or upstream value added services. This method of approach helps them offer a one-stop destination for customers. Moreover, this integrated end-to-end solution must also offer customers the visibility to make critical decisions or allow the freight forwarding company to make a routing decision on behalf of the customers.

If you closely follow the freight forwarding industry , you can find that it is evolving at a relentless pace. Smart and intelligent forwarders are making committed efforts to increase their scale for leveraging the buying power with carriers and also enhancing their range of services. The future looks really bright for smart players. Freight services have to make use of the opportunities that technology democratization has brought in the right way. It is equally important to use the expertise, skills and decision-making capabilities of the employees to grow their business in a productive and consistent manner.

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