The freight industry is vast and complex, with many different companies and services involved in the movement of goods from one place to another. There are a number of trends emerging in the global freight industry that will affect businesses moving forward. If you own or operate a company that relies on the movement of goods, it’s important to understand these trends so you are able to make better decisions for the future of your company. Here are the trends in the global freight industry that could affect your business in the future.
Changes in Consumer Behavior
The first trend is the changing behavior of consumers. One of the main reasons for this change is the increase in the number of people who shop online. According to a recent study this number has grown to almost 50%. This is a significant increase from the less than 10% it was 15 years ago. The main reason for this growth is the fact that people can order items online 24/7 all around the globe. This means more international sales, a growth in shipping volume, a rise in the use of container seals and increased shipping costs. When it comes to shipping, online retailers initially relied on service providers that used regular shipping. As a result, online shoppers had to wait for their orders just like customers who bought from brick and mortar stores. This means that businesses in the freight industry might have to step up their game and to strive for more efficiency in order to be able to adapt to this changing consumer behavior in the long run.
Automation in the Global Freight Industry
The next trend is automation in the global freight industry. While this trend has been around for a while, it’s clear that it has now reached a point where it will have a significant impact on the industry. It’s important to understand that automation can occur at different levels. It can happen at the transportation level, the information level, or the regulatory level. When it comes to the transportation level, it’s clear that there’s a significant push to introduce autonomous driving in the trucking industry. This has already started to occur in some areas, but it will soon be adopted on a wider scale. When it comes to the information level, the industry is moving towards more predictive and immediate services. This will mean that shipping times will be shorter and more accurate. When it comes to the regulatory level, it’s clear that governments around the world are focused on reducing administrative costs. If you are not focussing on automation within your business yet, it might be a good idea to start exploring how automation could play a role within your business.