Digital Transformation of Maritime Freight Market: Automation Remains the Top-Driving Engine

A mounting number of companies across various industrial verticals are modifying their business models with increased importance of consumer satisfaction, and the maritime freight landscape is no exception. With the market for maritime freight witnessing incremental growth in the service industry, it is undergoing digital transformation to improve transparency and offer a quicker response to customers’ needs in this landscape.

One of the recent developments in the technologically-advancing maritime freight landscape reflects a rise in the digital transformation of booking software. Digitization of sea freight booking through automation and cloud-based technologies is showing unprecedented growth in the digital transformation of maritime freight market.

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Cloud-based software solutions are poised to hold ~60% of the digital transformation of maritime freight market share by 2027; cloud-based solutions and cloud management tools are gaining popularity with their cost-saving benefits for stakeholders in the maritime supply space, thus triggering growth in the digital transformation of maritime freight.

For instance, in March 2018, Hapag Lloyd launched its cloud-based rate management platform – Cargo Sphere – which gives its customers fully-automated access to all its rates. The company further declared that, the platform can also deliver sales-related benefits, including more frequent selection of optimal booking and faster quoting to customers, ultimately to improve customer satisfaction by sharing accurate Hapag-Lloyd rates in real-time with its partners.