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The global freight forwarding market was valued at US$ 167.7 Bn in 2022 and is projected to expand at a CAGR of 3.9% from 2023 to 2031. This growth is driven by the rapid expansion of the e-commerce industry and robust pace of globalization, as well as the pressing need for innovative e-commerce supply chain strategies. The rapid rate of adoption of advanced technologies, such as IoT, AI, and machine learning, in warehousing, transportation, and procurement operations has also bolstered the market outlook.
