LONDON--(BUSINESS WIRE)--The global seafreight forwarding market research report by Technavio predicts the market to post a CAGR of close to 3% during the period 2018-2022.
A key driver for the global seafreight forwarding market is the rising demand for intermodal freight transportation. The cost advantages offered by intermodal freight transportation have contributed to an increase in the adoption of this transportation method by shipping service providers. A significant amount of cost can be reduced by the combination of two or more transportation modes such as sea and rail or vice versa when compared with using just one mode of transportation.
This global seafreight forwarding market research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the introduction of blockchain in the shipping industry as one of the key trends in the global seafreight forwarding market:
Global seafreight forwarding market: Introduction of blockchain in the shipping industry
The blockchain system makes use of a chain of cryptographically protected records to expose the details of transactions to all entities and distribute records across the network of contributing nodes or computer systems. This eliminates the need for a central authority to maintain records, which makes the processes more efficient and helps in reducing the costs.
“The blockchain technology is still in a nascent stage in maritime transportation. The shipping lines have been constantly implementing blockchain technology to streamline their shipping operations. The popularity of the blockchain technology in the shipping industry has been increasing steadily,” says a senior research analyst at Technavio.
Global seafreight forwarding market: Segmentation analysis
This seafreight forwarding market analysis report segments the market by service (FCL (full container load) and LCL (less-than-container load)) and geography (the Americas, APAC, and EMEA).
The FCL segment held the largest seafreight forwarding market share in 2017, accounting for nearly 83% of the market. This segment is expected to dominate the global market throughout the forecast period.
The EMEA region led the market in 2017 with approximately 39% of the market share, followed by APAC and the Americas respectively. The EMEA region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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