The freight management system market is expected to grow from US$14.3 billion to US$39.09 billion with a CAGR of 22.28 per cent from 2014-2019, according to a report by Research and Markets.

The efficient movement of freight is essential to any economy and also to the quality of life. Introducing an efficient, cost-effective fright transportation system supports small and local players to compete proficiently at the global arena. With the implication of these solutions, many freight companies have become more effective to manage the expected demand results in transformation of freight industry, the report said.

The increase in number of transportation vehicles globally with major boom in the adaption of technology indicates the upcoming business opportunities for freight management solutions. The environmental concerns, security, and safety of freight operations and the need for operational efficiencies are expected to serve as major drivers for the freight management system market. The major companies who are focusing on freight management system solutions are Ceva, Accenture, Jda software, and others.