The global intermodal freight transportation (IFT) market size is expected to reach USD 94 billion by 2030, expanding at a CAGR of 12.1% over the period, according to a new report by Grand View Research, Inc. IFT is the movement of goods using multiple modes of transportation (such as trucks, trains, and ships) in a single journey, without handling the freight itself when changing modes. The market is growing significantly due to the need for a more reliable, safe, efficient transportation system, containerization permitting easy handling of goods, growth in the domestic intermodal transportation market, and free trade agreements. Efficient transportation systems reduce transit times and operational costs, enhancing overall supply chain efficiency. Technological advancements such as real-time tracking and predictive analytics contribute significantly to improving the reliability and efficiency of intermodal transportation. Containerization revolutionizes the handling of goods by standardizing cargo units, which simplifies loading, unloading, and transfer processes across different transportation modes. This standardization allows for seamless integration between ships, trucks, and trains, reducing the risk of damage and loss during transit.The domestic markets are experiencing significant growth due to the increasing demand for efficient, and cost-effective transportation solutions. This growth is driven by the rising volume of e-commerce and the need for faster delivery times to meet consumer expectations. Free trade agreements (FTAs) significantly impact the intermodal freight transportation market by facilitating the seamless movement of goods across borders. FTAs reduce or eliminate tariffs and trade barriers, making it more cost-effective for businesses to engage in international trade.
Get deeper insights, latest developments & key market drivers in the Global Intermodal Freight Transportation Market
Key Intermodal Freight Transportation Company Insights
Some of the key companies operating in the intermodal freight transportation market include Oracle Corporation, Blue Yonder, Inc., among others. WiseTech Global and Transplace, Inc. are some of the emerging market companies in the target market.
Recent Developments
In March 2024, Blue Yonder, Inc. announced an agreement to acquire One Network Enterprises for around USD 839 million. The company aimed to create a unified, end-to-end supply chain platform that enhances real-time optimization, collaboration, and resilience across the supply chain ecosystem. This acquisition, along with previous investments, positions Blue Yonder to offer comprehensive solutions from planning to execution, leveraging advanced AI and multi-enterprise capabilities to address modern supply chain challenges.
In April 2024, WiseTech Global acquired Aktiv Data, a Finnish provider of electronic customs and freight forwarding solutions, to enhance its global customs capabilities through the integration of Aktiv Data's nTrax system into CargoWise. This acquisition aimed to simplify customs operations for international freight forwarders by offering a sophisticated solution tailored to Finland's cross-border requirements.
Looking for Intermodal Freight Transportation Market Report? Get your free sample PDF with key data & latest trends.