Global Freight Management System Market-Outlook, Opportunity, Projects, Application and Company Analysis 2020-2026
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Domestic and International Freight Demand Continues to Grow
The freight management system includes various strategies for increasing the efficiency of freight and commercial transport. Logistic is a technical term for efficient freight management, including shipping practices facility, and related activities. A well-functioning freight transportation management system is an essential element in any successful economy.
Domestic and international freight demand continues to grow. The domestic consumption of goods is increasing as new segments of the population enjoy a more effective income. Internationally, growing trade and the expansion of economic activities in emerging economies will significantly augment the flow of goods. This is driving the growth of the freight management system market.
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The Main Benefit that Using Freight Management Systems can Bring Business that Reduces Freight Costs
The main benefit that using freight management systems can bring business that reduces freight costs. These systems use analytics and optimization and are capable of providing suggestions that will help to reduce costs without impacting the quality of the service. The use of information technologies and telecommunications in freight management has improved the ability to coordinate shipments over long distances, l and thereby shaping global production systems. Hence, growing communication technologies and IoT is driving the growth of the fright management system market. However, freight transport consumes 30-40% of total transportation energy. Heavy diesel trucks consume about 22% of total roadway fuel and produce high levels of particulate air pollutants, which are harmful to human health.
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In addition, heavy trucks tend to be much noisier than other vehicles. In only Indian cities like Delhi, freight amounts to 67% of the total PM2.5 emissions from the transport sector and exhibits 61% of the total SO2 emissions and 62% of the total NOx emissions from the transportation sector. Moreover, smart freight transport provides a significant growth opportunity for the market.
The Asia Pacific holds the largest market share in the freight management system market. The Freight and logistics industry is growing quickly along with economic development in this region. The region faces challenges in ensuring that goods move in low emissions and having a low environmental impact. Environmentally sustainable freight transport is an issue of substantial importance. Hence, Asian countries are addressing this issue. In 2014, the Asian Development Bank and Deutsche Gesellschaft für Internationale Zusammenarbeit organized the first workshop to take best practices for green freight. It aims to identify companies that are striving to improve their emission profiles.
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