The freight forwarding market in India is a rapidly growing sector, driven by the country's increasing trade activity and economic growth. According to a report by ResearchAndMarkets.com
, the Indian freight forwarding market is expected to grow at a CAGR of over 8% during the period 2020-2025. This growth can be attributed to several factors, including the government's focus on promoting exports, rising e-commerce, and the growth of the logistics and warehousing industry.
One of the key trends driving the Indian freight forwarding market is the increasing adoption of digital technologies. Digital freight forwarders, also known as online freight forwarders, are changing the way freight is moved by providing customers with more transparency and control over their shipments. These companies use digital platforms to connect shippers with carriers, and often offer services such as real-time tracking, automated documentation, and digital payments.
is a digital freight forwarder based in India, that offers end-to-end logistics solutions for both air and sea freight. It offers its customers a user-friendly platform with a secure, reliable, and transparent way to handle their freight needs. By providing an online solution for the customers it is helping them to save time and money. This platform helps customers with the entire process of freight forwarding starting from price comparison, routing and service options, shipping tracking, and customs clearance. By providing a seamless process, it's helping the customers to focus more on their core business.
The global freight forwarding market is a highly competitive and dynamic industry, with players ranging from large multinational companies to small and medium-sized enterprises. According to a report by Mordor Intelligence, the global freight forwarding market is expected to reach USD 208.1 billion by 2025, growing at a CAGR of 7.5% during the forecast period 2020-2025. The market is segmented based on mode of transportation, service, and geography.
In comparison to the global freight forwarding market, the Indian market is relatively small, accounting for a small fraction of the global market share. However, the market is growing at a faster pace than the global market and is expected to continue to grow in the coming years.
To summarize, the freight forwarding market in India is a rapidly growing sector, driven by the country's increasing trade activity and economic growth. The adoption of digital technologies is a major trend in this market, with digital freight forwarders offering more transparency and control to customers. Ikargos.com as a digital freight forwarder is at the forefront of this movement by providing end-to-end logistics solutions and a seamless process to its customers. Despite being relatively small in comparison to the global freight forwarding market, the Indian market is expected to continue growing in the coming years.