PR Newswire
28 Jul 2022, 17:12 GMT+10
The global supply chain management platform market will likely reach $32.31 billion by 2026, predicts Frost & Sullivan
SAN ANTONIO, July 28, 2022 /PRNewswire/ -- The increasing complexity of global supply chains across industries, such as unreported process delays and late deliveries, necessitates shippers to have real-time visibility into the status of their freight. Frost & Sullivan's recent analysis, Global Freight Visibility Growth Opportunities, finds that the need for real-time freight visibility gains importance among the logistics and transportation stakeholders. As a result, the global supply chain management platform market will likely reach $32.31 billion by 2026 from $18.85 billion in 2021, expanding at a compound annual growth rate (CAGR) of 11.4%.
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"Visibility platforms have transformed how logistics stakeholders manage their inbound and outbound shipments," said Mugundhan Deenadayalan, Mobility Senior Industry Analyst at Frost & Sullivan. "Further, unique value propositions like freight cost management and trade management systems make enterprises rely on predictive and dynamic freight intelligence for optimized transportation performance and end-to-end supply chain orchestration."
Deenadayalan added: "Open collaboration among data sharing and freight visibility platforms drives the functional capabilities of the ecosystem partners to deliver advanced operational and process intelligence for enterprises. Additionally, widening partner system integrations and strategic engagement models would position visibility platforms as a single pane of glass for supply chain intelligence."
Due to prolonged resource shortages and increasing energy prices, the demand for data-powered logistics services remains high. Hence, market participants should:
Global Freight Visibility Growth Opportunities is the latest addition to Frost & Sullivan's Mobility research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Purchase from store
Global Freight Visibility Growth Opportunities
PC29
Contact:
Sol Curet
Corporate Communications
E: sol.curet@frost.com
SOURCE Frost & Sullivan
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