Global trade and logistics rely heavily on freight forwarding. A freight forwarder has extensive networks and contacts throughout the world. Shippers can save time and avoid costly mistakes by using them to navigate customs regulations, import or export restrictions, and other legalities. The use of AR and VR technologies is being explored for tasks such as remote inspections, training, and simulating complex logistics operations. Devices like GPS trackers and sensors are providing real-time visibility into shipment location, condition, and status through the Internet of Things. The system helps in better planning, tracking, and managing cargo.
The global freight forwarding market was projected to reach $186 bn in 2021, at a CAGR of 3.3 percent till 2028. One of the main drivers of change in the freight forwarding market is the growing number of trade agreements between emerging nations, which affect the volume of international trade. With the development of e-commerce, the freight forwarding market has grown thanks to increased e-commerce activities. The integrated services provided by freight forwarders also contribute to market growth. Freight forwarding is developing rapidly due to increased cross-border e-commerce.
This edition of Logistics Tech Outlook brings insights into the advancements in freight forwarding and how companies can align with the latest trends to improve productivity and efficiency.
It features a thought leadership article from Joe Mare, CSCP, Sr. Manager of Logistics, Kem Krest, who sheds light on how allowing the local trucker to recover the freight helps to deliver the end customers. It also features an article from Rob Segsworth, Vice President / Head of Land Transport Canada at DB Schenker, who emphasizes that shippers must understand the value of partnerships and ensure their carrier partners and transportation service providers are available during a downturn.
This edition spotlights MOL Worldwide Logistics, a globally recognized leader that is at the forefront of providing comprehensive shipping, logistics, and supply chain solutions.
In this edition featuring the Outstanding Freight Forwarding Companies 2023, we hope you find the right partner to foster innovation and improve customer experience.
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