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Freight Forwarding Services Market Procurement Intelligence Report | Increase in Supplier OPEX to Impact Procurement Spend

November 27, 2019 GMT
Freight Forwarding Services Market Procurement Intelligence Report | Increase in Supplier OPEX to Impact Procurement Spend
Freight Forwarding Services Market Procurement Intelligence Report | Increase in Supplier OPEX to Impact Procurement Spend

LONDON--(BUSINESS WIRE)--Nov 27, 2019--

SpendEdge has been monitoring the global freight forwarding services market and the market is poised to experience spend growth of nearly USD 60 billion between 2018-2023 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.

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SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Freight Forwarding Services Market Procurement Intelligence Report. (Graphic: Business Wire)

Read the 112-page research report with TOC and LOE on “The Global Freight Forwarding Services Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”

The exponential rise in the cross-border trade volume experienced by the e-commerce sector will be directly responsible for speeding up spend growth in the freight forwarding services market. Last year, the gross merchandise value for cross-border e-commerce trade touched a figure of about USD 550 billion and is expected to grow in the coming years. Growing complexities such as customs and import clearance and adherence to the regulatory norms and paperwork associated with cross-border trade are compelling enterprises to seek services from the freight forwarders who aid them in such time-consuming tasks. These factors will contribute towards spend momentum in the global freight forwarding services market.

The presence and prominence of flourishing industries like manufacturing heavy machinery, electrical equipment, chemicals, aircraft, and petrochemicals derived from crude oil have catapulted the US to the position of the second-largest exporter of goods across the globe. This will create substantial requirements for services such as customs clearance, documentation, and cross-border logistics. According to the forecasts, such requirements will draw investments into the freight forwarding services market in the US. The emergence of China, Taiwan, and India as global manufacturing hubs will drive the demand growth in this market in APAC.

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About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20191127005307/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 11/27/2019 10:33 AM/DISC: 11/27/2019 10:33 AM

http://www.businesswire.com/news/home/20191127005307/en