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Flexport is a technology-enabled freight forwarding and logistics company that offers end-to-end solutions for businesses involved in international trade, providing services such as freight forwarding, customs brokerage, cargo insurance, and supply chain visibility.
Technological Features of Flexport
- Digital Freight Forwarding Platform that serves as a centralized hub that enables businesses to manage their international shipments and logistics operations efficiently.
- Shipment Management software to manage booking, coordinating with couriers, managing customs documentation and tracking goods.
- Supplier and Vendor Management helps businesses to easily request quotes, coordinate shipments and track supplier performance to foster seamless integration and transparency.
Logistics Market and Revenue
According to reports, In the year 2022, the size of the Indian logistics market was around 274 billion U.S. dollars. It was estimated that this market would grow to 563 billion dollars in 2030, at a compound annual growth rate of 9.4 per cent.
The global logistics market size was accounted for USD 7.98 trillion in 2022 and it is expected to be worth around USD 18.23 trillion by 2030 with a noteworthy CAGR of 10.7% from 2023 to 2030.
In 2022, Flexport had a gross revenue of $5 billion, a 52% increase from 2021, when the company moved $19 billion in gross merchandise value for clients in 112 countries.
This case study highlights the Technological features of Flexport, the Industries it provides services to, the geographic locations they are in, the business and revenue model of the company and the Marketing Strategies used by the company.
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