|European Freight Cost Management Market, Forecast to 2025|
|Freight Audit and Payment Service Solutions Aid Cost Reduction Opportunities for Enterprises with Enhanced Supply Chain Visibility|
Small and medium enterprises (SMEs) across Europe are digitising their time-consuming invoice verification and claims management processes. A recent analysis by Frost & Sullivan reveals that owing to this development, the region’s freight cost management (FCM) market is poised to register a CAGR of 17.4%, with gross market revenues predicted to rise from €484 million in 2018 to about €1.49 billion by 2025.
“So far, there has been a lack of transparency and ineffective communication between shippers and carriers in the end-to-end supply chain process,” said Krishna Chaithanya Bathala, Industry Analyst, Automotive & Transportation at Frost & Sullivan. “However, with the emergence of freight cost management solutions powered by digital technologies, the shippers’ capability in data warehousing and benchmarking carriers’ performance has been enhanced.”
Frost & Sullivan’s latest study, European Freight Cost Management Market, Forecast to 2025, provides a comprehensive outlook on the overall freight cost management market in Europe. The research offers a detailed analysis of the current market scenario and provides strategic observations and meaningful insights for companies that want to venture or expand into this sector.