Market Size of China Digital Freight Forwarding Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Digital Freight Forwarding Market Analysis
China's digital freight forwarding market is expected to register a CAGR of over 6% during the forecast period.
The COVID-19 pandemic impacted the freight forwarding market due to lockdowns and entry restrictions imposed by the neighboring countries. After the easing of lockdown restrictions, freight forwarders witnessed significant growth in the country, and the pandemic created an opportunity to freight forwarders to adopt digital technologies to meet the increasing demand.
Moreover, to face the multiple challenges posed by the pandemic, China's logistics sector is adopting digital technologies to boost efficiency. In addition, the country's government also supports digital third-party logistics platforms and develops a batch of digital platforms and supply chain enterprises with global influence.
Furthermore, Chinese freight forwarders are leveraging digital technologies to help boost logistics efficiency in regions affected by the pandemic. For instance, Full Truck Alliance, a Chinese truck-hailing company, utilizes digital technology to provide apps that connect many truck drivers with merchants. The digital platform also enables truck drivers to find goods quickly and reduce empty-load rates and fuel consumption. However, in 2022, according to the General Office of the State Council, China released its first five-year plan to modernize its logistics sector by the end of 2025. The plan includes promoting the digital transformation of the logistics sector, increasing the quality and efficiency of services, etc. Thus, digital transformation is likely to drive China's freight forwarding industry.
China Digital Freight Forwarding Industry Segmentation
Digital freight forwarders use digital tools that help smoothen the flow of communication and quickly get status updates regarding any shipment. Digital freight forwarder employs a completely transparent system that compares various shippers to offer the best deal to the customers. A complete background analysis of the Chinese digital freight forwarding market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact is included in the report.
China's Digital Freight Forwarding Market is segmented by Mode of Transportation (Ocean, Air, Road, and Rail) and Firm Type (SMEs and Large Enterprises, and Governments). The report offers market size and forecasts for the China Digital Freight Forwarding Market in value (USD billion) for above all segments.
| By Mode of Transportation | |
| Ocean | |
| Air | |
| Road | |
| Rail |
| By Firm Type | |
| SMEs | |
| Large Enterprises and Governments |
China Digital Freight Forwarding Market Size Summary
The digital freight forwarding market in China is poised for significant growth, driven by the rapid adoption of digital technologies in response to the challenges posed by the COVID-19 pandemic. The logistics sector in China is increasingly leveraging digital solutions to enhance efficiency and meet the rising demand, supported by government initiatives promoting digital transformation. The country's robust e-commerce sector, which holds a substantial share of the global market, is a key driver of this growth. The demand for improved logistics services, characterized by transparency, speed, and cost-effectiveness, is pushing freight forwarders to digitize their operations. This shift is further fueled by the expansion of air cargo services and the increasing volume of cross-border e-commerce, which necessitate more efficient and technologically advanced logistics solutions.
The competitive landscape of China's digital freight forwarding market is fragmented, with major players like DHL, Flexport, Agility Logistics, and Freightos vying for market share. Recent strategic moves, such as China Southern Airlines' partnership with WebCargo and Agility's merger with iContainers, highlight the industry's focus on integrating digital platforms to enhance service offerings. These developments underscore the market's trajectory towards greater digitalization, aiming to improve service quality and operational efficiency. As the market continues to evolve, the emphasis on digital transformation is expected to drive further growth, positioning China as a leading player in the global digital freight forwarding industry.
China Digital Freight Forwarding Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Market Scenario
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1.2 Value Chain / Supply Chain Analysis
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1.3 Insights on Investment Scenarios
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1.4 Insights on Government Regulations and Initiatives
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1.5 Brief on Technology Development in Online Freight Forwarding and Digital Platforms
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1.6 Overview on E-commerce Logistics and Freight Forwarding in China
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Mode of Transportation
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2.1.1 Ocean
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2.1.2 Air
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2.1.3 Road
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2.1.4 Rail
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2.2 By Firm Type
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2.2.1 SMEs
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2.2.2 Large Enterprises and Governments
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China Digital Freight Forwarding Market Size FAQs
What is the current China Digital Freight Forwarding Market size?
The China Digital Freight Forwarding Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in China Digital Freight Forwarding Market?
Flexport, Agility Logistics, DHL, Full Truck Alliance and SINO SHIPPING are the major companies operating in the China Digital Freight Forwarding Market.
