The global air freight software market size is slated for considerable expansion owing to the emergence of new companies in the logistics industry, finds Fortune Business Insights™ in its report, titled “Air Freight Software Market, 2023-2030”.
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Segmentation
Based on type, the market is segregated into on-premise and cloud-based. On the basis of solution, the market has been segmented into freight tracking & monitoring, cargo routing & scheduling, order management, transportation management system (TMS), and electronic data interchange (EDI). By end-user, the market has been divided into third-party logistics, forwarders, brokers, shippers, and others. Regionally, the market has been categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Driving Factor
Integration of Intelligent Systems in Supply Chains to Fuel Market Growth
Intelligent systems based on technologies such as the Internet of Things (IoT) have steadily gained ground in supply chain management. With supply chain logistics getting increasingly automated, the adoption of IoT, etc. is expanding rapidly in this domain, prompting technology innovators to develop and release novel products, especially for air cargo. For example, in July 2018, SITAONAIR, a leading aviation integrator, collaborated with AirBridgeCargo and CargoLogicAir to deploy IoT-powered sensors to track and monitor in real-time sensitive and perishable cargo, such as pharmaceuticals. Similarly, in October 2019, IAG Cargo teamed up with Cargo Signal, a logistics platform that uses IoT for air cargo management, to create new air freight software to improve tracking of air cargo. Thus, the increasing proliferation of IoT-based solutions in air cargo systems is expected to foster the long-term growth of this market.
Regional Insights
Strong Freight Management Infrastructure to Power the North America Market
North America is slated to command the air freight software market share during the forecast period owing to the robust freight and supply chain infrastructure in the US and Canada. Moreover, these two countries are home to some of the biggest logistics companies, such as FedEx and UPS, which are known to adopt cutting-edge technologies, thus creating massive opportunities for market players.
The uptake of air freight software and other such solutions in Asia Pacific is being propelled by the soaring demand for advanced warehouse management technologies in India and China. The critical need for vaccines amid the brutal second wave of the coronavirus is India has further intensified the adoption of next-gen cold chain warehousing and management solutions.
Competitive Landscape
Investments in AI by Leading Players to Electrify Market Competition
Key players in this market for air freight software are making heavy investments in AI to build a diverse portfolio of products and services. Furthermore, the incorporation of AI is allowing companies to cater to multiple end-user industries and sectors, enabling them to fulfill their logistics requirements in an efficient manner.
Industry Development
- February 2023: South Korea-based CJ Logistics announced the development of an inventive AI-driven solution that can accurately track cargo and estimate the possible time of arrival. The tracker will empower companies to efficiently manage delivery schedules and save costs and time.
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List of Key Players Profiled in the Air Freight Software Market Report
- The Descartes Systems Group Inc. (The U.S.)
- Riege Software International GmbH (Germany)
- Infor (India)
- Freightview (The U.S.)
- Freightos (Hong Kong)
- CHAMP Cargosystems S.A (The U.K.)
- Shiprocket (India)
- Magaya (The U.S.)
- Hard Core Technology Corp. (The U.S.)
- Freightdata 2000 (The U.K.)
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