India Road Freight Market Outlook: Ken Research

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Technology Enabled Transformations GOI Policies
such as National Logistics Policy will drive the
Road Freight Market in India to grow over INR
9500 Bn in the next 5 Years. Will the Growth
Sustain? Ken Research The market is expected to
grow at a CAGR of 9 driven by rising foreign
trade, surging discretionary spend, growing FMCG
sector, and increasing investment in transport
infrastructure, says a report by Ken Research 1.
Tech to the rescue Technology-enabled
transformations such as FMS autonomous
vehicles and digital trucking aggregators with
online load board and automated brokerage are
driving the market growth.
Click to Read Full Article India Road Freight
Market Outlook Technology has significantly
changed due to AIs important role in supply
chain management, including the development of
predictive optimization, which is expected to
become one of the biggest drivers in the
logistics industry. Technologies such as Real
Time Location and Temperature Monitoring and
Data Sharing which enables real time monitoring
of the temperature of a refrigerated unit
customer has changed the way fleet operators view
the logistics market. Other such technologies
operating in the market currently are warehouse
automation, fleet management software Advanced
driver assistance system. 2. Government Policies
such as National Logistics Policy is integrating
the operations in order to remove market
glitches.
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Sample Report The National Logistics Policy
(NLP) has been designed to o ensure that
logistical problems are minimized, exports
increase significantly, and small businesses and
the people who work in them gain profit. The aim
is not only to ensure smooth operations but also
profit employment generation via logistics
industry in India. Moreover, various sub segments
of NLP such as Gati Shakti Program Sagarmala
are also aimed at developing the logistics
infrastructure. 3. Growth is the way ahead
With increasing investment, technological
innovation government focus, the road freight
market in India is expected to witness a surge in
terms of development.
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Visit this Link Request for custom report The
industry is forecasted to grow at a CAGR of 9.0
during 2019-2024 driven by rising foreign trade,
surging discretionary spend, growing FMCG sector,
and increasing investment in transport
infrastructure. IR and GoI is actively making
efforts to make rail freight competitive with
road freight. Eastern and Western DFCs are
expected to be fully operational by 2020, and 4
more corridors are in the pipeline. IR is also
looking to rationalise rail freight rates. Phase
I of the Bharatmala Pariyojana set to be
completed by 2021-22, which includes 34,800 km
of roads. Focus on road infrastructure and
dependence on roads for freight transport is
expected to continue. Container trucks proportion
in the market is expected to rise in the future
due to its versatility and resistance to adverse
weather.