Market Trends of China Digital Freight Forwarding Industry
Rise in E-Commerce Sector Driving the Market
Several factors have fueled the rapid growth of China's e-commerce industry. The Chinese government has rolled out a series of policies to bolster e-commerce and the digital economy, with a particular focus on enhancing internet infrastructure and promoting entrepreneurship.
With advancements in mobile technology and widespread internet connectivity, e-commerce has become both available and accessible across China, benefiting consumers and business owners alike. Furthermore, residents enjoy the convenience of diverse mobile payment solutions, such as Alipay and WeChat Pay, facilitating seamless online transactions.
According to industry experts, in 2023, China represented 6.0% of the global freight forwarding market in terms of revenue. Looking ahead to 2030, the U.S. is poised to dominate the global market in terms of revenue. Within the Asia Pacific region, China's freight forwarding market is set to take the lead in revenue by 2030. India, recognized as the fastest-growing market in the Asia Pacific, is on track to achieve a valuation of USD 17,732.1 million by 2030.
Increasing Air Cargo Shipments Expected to Drive the Market
The digital freight forwarding market in China is undergoing rapid transformation, driven by technological advancements and the growing need for efficient and cost-effective logistics solutions. The market is expected to achieve significant growth in the coming years, fueled by the increasing adoption of digital platforms and solutions by both shippers and carriers.
According to industrial experts, air transportation is one of the fastest modes of transportation available, making it ideal for transporting time-sensitive products, such as perishable goods and high-value items requiring urgent delivery. The primary advantage of air transport in logistics is the speed of delivery.
In 2023, China's imports and exports of cross-border e-commerce products were worth CNY 2.38 trillion (USD 328.3 billion), up 15.6 percent year-on-year. Products exported for cross-border e-commerce alone reached CNY 1.83 trillion (USD 0.25 trillion), up nearly 20 percent year-on-year, according to the General Administration of Customs.
