According to Valuates Reports, the Freight Forwarding market is expected to reach USD 207 billion by 2026, from USD 170 billion in 2019. A compound annual growth rate of 2.8% from 2020 to 2026.
The report focuses on three key factors influencing the expansion of the logistics sector: the increasing demand for low-cost shipping, a better understanding of customer preferences, and the growing flexibility of logistical solutions. Leading the way in this expansion are small to medium-sized(SME) freight forwarders whose agile infrastructures and high-touch customer service models can meet the needs of businesses, providing customized solutions to company-specific pain points.
If the pandemic has shown us anything about the logistics sector, it is that agility reigns supreme, and many SME freight forwarding firms offer just that. Without all of the red tape that comes with multinationals, these freight forwarding firms can pivot at a moment’s notice. Often offering a “single point of contact” service, communication becomes fluid, increasing the speed and efficiency of deploying logistics solutions.
Working with global partner agents via worldwide network affiliations, these firms can offer seamless door-to-door solutions regardless of the origin or destination while maintaining flexibility. These alliances secure the most competitive rates for local services and provide customers with real-time updates and a level of transparency that can only be accomplished through strong partnerships.
Conclusion. The freight forwarding sector is growing rapidly, and the catalyst remains the reliability of and strong relationships forged by SME forwarders.