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Global Air Freight Software Market to Grow at a CAGR of 8.00% During 2022-2027, Aided by the Increasing Air Freight Traffic

According to a new report by EMR titled, ‘Global Air Freight Software Market Report and Forecast 2022-2027’, the market witnessed a healthy growth in the historical period of 2017-2021. The air freight software industry is further expected to grow at a CAGR of 8.00% between 2022 and 2027.

The global market for air freight software is driven by the increasing air freight traffic due to the advantages of cargo transportation via air, such as low risk of damage and speedy cargo delivery. In addition, the expanding e-commerce industry and the growing preference of consumers for online shopping are also projected to contribute to the growing air freight traffic. These factors are expected to lead to the increased adoption of air freight software to ensure the efficient management of cargo. Furthermore, the benefits offered by air freight software including streamlined cargo operations and real-time cargo tracking are further expected to propel the air freight software industry.

The growing demand for air freight software to improve productivity is leading many companies to develop advanced and innovative technological solutions, which is predicted to aid the market growth in the forecast period. For instance, Descartes Forwarder Logic™ developed by the Descartes Systems Group Inc (NASDAQ: DSGX) is one of the most comprehensive software-as-a-service freight operations platform that enables the traffic departments and freight forwarders to access real-time information through a single interface. Its main features include automated data entry, purchase order management, trade documentation, supply chain inventory, customs management, and reporting analytics through Descartes Reporting Systems. The major advantages of this software include efficient shipment handling, improved information integrity, error elimination, real-time connectivity with trade partners, streamlined payment process, and reduced investment costs, among others. Such developments are expected to invigorate the air freight software industry  in the forecast period.

Market Analysis by Type, Solution, End-User, and Region:

  • The air freight software industry, based on type, is classified into on-premise and cloud-based.
  • Based on solution, the market can be divided into freight tracking and monitoring, cargo routing and scheduling, order management, transportation management systems (TMS), and electronic data interchange.
  • On the basis of end-user, the market is segregated into third-party logistics, forwarders, brokers, and shippers, among others.
  • The regional markets for air freight software include  North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for air freight software is being driven by the increasing freight traffic globally and the growing demand for efficient freight management solutions.
  • The increased focus to generate revenue and the growing government initiatives to promote the adoption of air freight software are contributing to the market growth.
  • The growing adoption of paperless technologies, fuelled by the growing eco-consciousness, is further augmenting the market growth.
  • The technological advancements and the increased expenditure by the key industry players in the development of improved air freight software are anticipated to propel the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for air freight software for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, solutions, end-users, and major regions of air freight software.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global air freight software market  are CHAMP Cargosystems S.A., Freightdata 2000 Ltd, Freightos Limited, Infor (US), Inc., Magaya Corporation., Riege Software International GmbH., and The Descartes Systems Group Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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