Intermodal freight transport reduces cargo handling and damage and improves security levels. Increasing requirement for safe and efficient transport system is leading to numerous innovations in the transport systems. Rise in the domestic as well as international intermodal freight transports have also increased the demand for these systems. Global boom in the transportation sector and requirement for quick arrangement of cargo are creating demand for advancements in the transportation systems. Rising demand from global companies and technological advancements are expected to be the major driving factors for the global intermodal freight transportation market. Demand from the emerging markets is expected to drive the market on global scale.
Segmentation in the Market
For an in-depth analysis of the global industry scenario, researchers segment the global market on the basis of the types of solutions, which include fleet management, intermodal terminal, freight security, intermodal dispatch, trucking software, and warehousing solutions. Apart from that, the intermodal freight transportation market is also segmented on the basis of the types of services, transportation modes, business verticals and geographic regions. The types of services include managed services, consulting services and customization services. Transportation modes include road-water, rail-road, road-air and others. Major industrial verticals include oil and gas, consumer and retail, food and beverages, industrial and manufacturing, pharmaceuticals and healthcare, energy and mining, chemicals, construction, aerospace and defense, and others.
Major Market Drivers & Restraints
The global intermodal freight transportation market is steadily driven by four significant driving factors, which include:
Applications of containerization that assist in easy handling of the goods
Growing requirement for efficient, reliable and swift transport systems
Emerging free trade agreements across the nations
Rise in the domestic intermodal freight transportation market
According to the experts, underdeveloped infrastructure, lack of knowledge and training and reluctant organizations in terms of adoption of the new systems are expected to be the major restraints for the global market. However, changing nature of multimodal transportation and geospatial intermodal freight transport are expected to maintain high hopes and investment opportunities for the existing as well as potential players in the market.
As per the latest reports, the global intermodal freight transportation market is expected to grow at a steady CAGR of over 16% from 2014 to 2019. At the estimated healthy compound annual growth rate, the market is anticipated to reach past $26.19 billion by the end of the year 2019. As of 2014, the market is estimated to be worth $12.28 billion. Along with the developed regions, emerging markets like Asia Pacific, Middle East, Africa and Latin America are also set to make steady growth in the global market. Rising demand from different industrial segments of the emerging regions is expected to be a strong driver for the progress of these regions.