Nearshoring, electrification and freight
fraud among the current trends and challenges facing
North American truckload transportation
WESTMINSTER, Colo., Aug. 7, 2024
/PRNewswire/ -- Trimble (NASDAQ: TRMB) has released
"The Road Ahead: Key Trends and Capabilities Shaping the North
American Freight Transportation Market," a Transporeon report
identifying key developments impacting the future of the truckload
transportation sector in North
America.
The report analyzes market trends and data based on survey
responses from Indago supply chain research community members as
well as the Transporeon shipper and carrier community. Due to the
current supply surplus in the North American truckload
transportation market, the report discusses technology solutions to
address the challenges faced by transportation and logistics
stakeholders.
Key highlights of the report are the growing importance of
Mexico as a source of U.S.
imports, sustainability and the electrification of trucking,
California's AB5 bill and freight
fraud:
- Market Challenges: The current state of
North America's truckload sector —
low demand and ample capacity — have created challenges for
carriers. The report highlights the complexity of demand sources
contributing to a decline in trucking load requests and discusses
the necessary capabilities to compete in the rapidly evolving
truckload market.
- Nearshoring: Driven by the combination of global
geopolitical volatility and sustainable emissions goals, the
continuing growth of nearshoring is identified as a key trend for
truckload-related businesses. As Mexico surpasses China as the leading source of goods imported
into the U.S., 88% of small to medium-size supply chain businesses
plan to migrate partially to suppliers closer to the U.S., while
45% plan to switch all of them (Capterra). The report examines how
these changes may affect the truckload transportation market.
- Freight Fraud: Freight
fraud is a growing risk in the truckload sector, with
CargoNet reporting a 59% increase in cargo theft in Q3 2023
compared to Q3 2022. An April 2024
survey found that 48% of respondents experienced cargo theft or
freight fraud in the past year. Shippers, carriers and
logistics service providers (LSPs) are advised to consider and
prevent freight fraud. The report outlines steps to
reduce its likelihood.
- Sustainability and Electric Vehicles: New emissions
standards for heavy-duty trucks at both state and federal levels
are accelerating the switch to more emissions-friendly vehicles,
with forensic carbon accounting and measurement a potential legal
necessity for shippers and carriers. Hurdles such as mileage range
and charging infrastructure are among the limitations preventing
fleets from greater adoption of electric vehicles.
- The Implications of California's AB5: Driver shortage is
an ongoing challenge for carriers and LSPs, adding to the cost
burden of enterprises as they bid to retain experienced and
valuable driver support. Costs have the potential to rise further
following the enactment of AB5 in California, which mandates reclassifying many
independent contractor drivers as employees, requiring trucking
companies to pay additional benefits and payroll taxes. The
possibility of similar legislation spreading to other states could
further exacerbate these challenges.
Responding Intelligently and Effectively to Whatever Happens
Down the Road
"The Road Ahead: Key Trends and Capabilities
Shaping the North American Freight Transportation Market"
highlights solutions to help overcome the obstacles faced by the
transportation industry. This includes enhanced collaboration via
transportation management platforms, real-time freight visibility
to guard against freight fraud, and digital tools to
speed up and streamline processes.
"We are confident this report will be a valuable resource for
shippers and carriers at a time when the industry acknowledges it
has been bumping along the bottom for a long period," said
Ed Moran, managing director,
Americas, Transporeon. "By recognizing important trends and
identifying how such trends might support business growth, all
parties can proactively exploit collaborative digital tools that
meet the demands of shippers and carriers alike."
To access "The Road Ahead: Key Trends and Capabilities Shaping
the North American Freight Transportation Market" report,
visit:
https://www.transporeon.com/en_US/reports/the-road-ahead
About Transporeon
At Transporeon, a Trimble Company,
our mission is to bring transportation in sync with the world. We
power the largest global freight network of more than 1,400
shippers and retailers and more than 150,000 carriers and logistics
service providers. Every day they execute more than 110,000
transports on our platform and book more than 100,000
dock-appointments for loading and unloading. In the course of one
year, roughly $59bn in freight is
being processed on our platform.
Our leading transportation management platform connects all
actors along the supply chain. It facilitates collaboration between
the different parties, helps to automate manual processes and
provides valuable real-time insights. The modular Application Hubs
solve specific logistics challenges and range from freight sourcing
over transport execution and dock and yard management to freight
audit and payment. Data hubs provide insights into logistics
operations, market developments and carbon emissions, next to
ensuring transparency in the supply chain through visibility. Our
platform works across all geographies and all modes of
transportation, empowering logistics teams to move, manage and
monitor freight.
Transporeon is headquartered in Ulm, Germany, and maintains 18 offices around the
globe with over 1,400 employees across 27 countries. For more
information, visit: www.transporeon.com.
About Trimble
Trimble is transforming the ways people
move, build and live. Core technologies in positioning, modeling
and data analytics connect the digital and physical worlds to
improve our customers' productivity, quality, safety, transparency
and sustainability. For more information about Trimble (NASDAQ:
TRMB), visit: www.trimble.com.
GTRMB
View original content to download
multimedia:https://www.prnewswire.com/news-releases/trimble-releases-transporeon-report-on-trends-and-challenges-for-north-american-transportation-302215987.html
SOURCE Trimble
