According to the Data Bridge Market Research, freight forwarding report helps in attaining a sense of evolving movements of the industry before the competitors. The Global Freight Forwarding Market was valued at $7.80 billion (USD) in 2022 and is now expected to reach $13.50 billion (USD) by the year 2029, registering a CAGR (Compound Annual Growth Rate) of 7.10% during the forecast period of 2022-2029.
Ocean freight is expected to increase owing to the developments in infrastructure and services by e-commerce industry. The increased need for less expensive shipping, the capability to recognise the consumers’ demands, and reply rapidly with logistics services is one of the major factors driving the growth of the freight forwarding market. Furthermore, an increase in the trade agreements between nations also aid in the rising in the growth of the freight forwarding market.