According to Technavio, UPS, FedEx Freight, J.B. Hunt Transport Services, YRC Worldwide, Swift Transportation and Schneider National will be the six leading vendors of road freight transportation in North America from 2017 to 2021.
According to the market research analysis, the market in North America is fragmented with the presence of several small vendors, in addition to the key vendors who have a vast geographical presence in the road freight transportation and supply chain business. The market is capital-intensive and requires increased technologies. Vendors in the market are focusing on providing different types of value-added logistics services such as assortment and grading of products, packaging, and other legal formalities necessary in the process. However, there are few players in the market that provide one-stop solutions. Shippers prefer to choose freight service providers that provide one-stop solutions and avoid the tediousness associated with different outsourcing tasks to different vendors.
“Vendors are focusing on expanding their geographical reach and realigning their product offerings to reduce operational costs, and remain competitive by targeting high-growth segments and strengthening their financial position in the market,” said Sharan Raj, a lead analyst at Technavio for packaging research.
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