The increased need for more reliable, safe, and efficient transportation and growth of domestic intermodal transportation market are playing a major role in shaping the future of the intermodal freight transportation market. As the transportation industry is booming globally, the standards for transportation has drastically enhanced. Organizations need to deliver goods as quickly as possible, without any damage and at minimum cost. Because of these requirements, the transportation industry is witnessing dramatic technological changes, intermodal being one of them. The introduction of containerization has permitted easy handling and has eliminated the concept of repackaging while change of modes. However, the lack of intermodal transportation knowledge and training is restraining the rapid growth of this market. The growth of domestic intermodal transportation market especially in North America is pushing the overall growth of intermodal freight transportation. According to IANA (Intermodal Association of North America) statistics, the intermodal traffic is expected to rise from 1.2 % in the first quarter to 3.2 percent in the second in 2014.
MarketsandMarkets has segmented the global intermodal freight transportation market by solutions: fleet management, intermodal dispatch, freight security, terminals, warehousing, and trucking software; by services: consulting, managed, and customization services; by modes: rail-road, road-water, road-air, and others; by verticals: consumer and retail, oil and gas, industrial and manufacturing, energy and mining, aerospace anddefense, construction, chemicals, pharmaceuticals and healthcare, food and beverages, and others; and by regions: North America (NA), Asia-Pacific (APAC), Europe (EU), Middle East and Africa (MEA), and Latin America (LA). The biggest player of this market who contributes to the major share includeIBM, Aljex Software, Cognizant, GE Transportation, HighJump Software, Motorola Solutions, Profit Tools, TMW Systems, and Trinium Trucking Systems.
The major forces driving this market are accelerated adoption of containerization, need for more reliable, safe and efficient transportation system, and growth in domestic intermodal transportation market. The prime opportunity which is expected to boost this market is adoption of multimodal transportation and Geospatial Intermodal Freight Transportation (GIFT).
MarketsandMarkets expects that the global intermodal freight transportation market is estimated to be $12.28 billion in 2014 and is expected to grow to $26.19 billion in 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 16.4% from 2014 to 2019. In the current scenario, NA is expected to be the biggest market on the basis of spending and adoption of the intermodal freight transportation market.
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports.Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India