The Global Air Freight Software Market is projected to register a CAGR of 8.2% from 2019 to 2025. Factors such as rapidly growing global trade and the increasing need for supply chain visibility are driving the growth of the market. Furthermore, advancements in communication technologies are aiding market growth.
Airfreight transportation is a fast and effective shipping method, especially for businesses with international customers. However, the primary drawback of air shipping is the high cost, which significantly exceeds ocean freight forwarding. However, an increase in global shipping is expected to result in reduced costs, driving the growth of the air freight software market during the forecast period.
Airfreight software offers increased supply chain efficiency and visibility
Growth Opportunities in the Market
Cloud-based segment accounted for the larger market share in 2018: The cloud-based segment is also expected to register the higher CAGR during the forecast period of 2019 to 2025. Low utilization costs of cloud computing and the enhanced flexibility offered by cloud-based air freight software is expected to drive the growth of the segment.
Forwarders segment to register the highest growth rate: The forwarders segment is expected to be the fastest-growing during the review period. The increasing use of freight management software by freight forwarders to track deliveries in real-time, improve warehouse efficiency and productivity, and increase supply chain efficiency is driving the growth of the segment.
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- Hard Core Technology Corp. (US)
- Infor (India)
- Magaya (US)
- Riege Software International GmbH (Germany)
- Shiprocket (India)
- The Descartes Systems Group Inc. (US)