A Global Customs Brokerage Market Research Report from Emergen Research has been formulated by analyzing key business details and an extensive geographic spread of the Customs Brokerage industry, encompassing key business details and extensive geographical coverage. In addition to providing crucial statistical data about the Customs Brokerage market, this study covers qualitative and quantitative aspects of the Customs Brokerage market. In addition to historical data from 2017 to 2018, the research study provides an accurate forecast until 2027 for the Customs Brokerage market. A comprehensive analysis of established and emerging players in the market is summarized in the report. The report also covers the business overview, the product portfolio, and the strategic alliances and expansion strategies of the companies.
The customs brokerage market plays a international trade by ensuring compliance with facilitating the smooth movement of goods across borders. This market involves the services provided by customs brokers, who act as intermediaries between importers/exporters and customs authorities. They assist in the preparation and submission of customs documentation, classification of goods, payment of duties and taxes, and clearance of goods through customs.
The global customs brokerage market size was USD 23.78 Billion in 2022 and is expected to register a revenue CAGR of 7.7% during the forecast period, according to latest analysis by Emergen Research. The global customs brokerage market has witnessed significant growth in recent years, driven by several factors. Firstly, the increasing volume of international trade has led to a greater demand for customs brokerage services. With globalization and the expansion of supply chains, companies are increasingly relying on customs brokers to navigate complex customs procedures and ensure compliance with ever-changing regulations.
Furthermore, the growing complexity of customs regulations and the need for specialized knowledge have also contributed to the growth of the customs brokerage market. Customs brokers possess expertise in customs procedures, tariff classifications, and trade agreements, which helps importers/exporters avoid costly delays and penalties.
However, the customs brokerage market also faces certain restraints. One of the major challenges is the increasing scrutiny and enforcement of customs regulations by authorities worldwide. Governments are becoming more vigilant in detecting and preventing customs fraud, smuggling, and other illegal activities. This leads to stricter compliance requirements and increased scrutiny of customs brokerage practices.
Despite these challenges, the customs brokerage market is expected witness significant growth in the coming years. Several factors are driving this growth. Firstly, the ongoing digital transformation in the logistics industry is revolutionizing customs brokerage services. The adoption of advanced technologies such as artificial intelligence, blockchain, and automation is streamlining customs processes, reducing paperwork, and improving efficiency.
Moreover, the implementation of trade facilitation measures by governments is also expected to boost the customs brokerage market. Trade facilitation initiatives to simplify customs procedures, reduce trade barriers, and enhance the efficiency of cross-border These initiatives include the implementation of single-window systems, harmonization of customs procedures, and the use of electronic documentation.
According to statistics from government organizations, the customs brokerage market has witnessed steady growth in recent years. For instance, the World Customs Organization reported that global merchandise trade increased by 3.6% in 2018, reaching a total value of $19.48 trillion. This growth in trade volume has directly contributed to the demand for customs brokerage services.
Due to movement restrictions and lockdowns due to the current COVID-19 pandemic, the growth of the Customs Brokerage industry is expected to be negatively affected. In addition to the impact of the COVID-19 pandemic on numerous global markets, the Customs Brokerage industry is expected to feel the effect as well. The slowdown in economic growth and dynamic changes in demand will further affect industry growth. The report covers the impact analysis of the COVID-19 pandemic on the overall Customs Brokerage industry.
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Global Customs Brokerage Market Highlights:
- Regional demand estimation and forecast
- Product Mix Matrix
- R&D Analysis
- Cost-Benefit Analysis
- Pre-commodity pricing volatility
- Supply chain optimization analysis
- Technological updates analysis
- Raw Material Sourcing Strategy
- Competitive Analysis
- Mergers & Acquisitions
- Location Quotients Analysis
- Carbon Footprint Analysis
- Patent Analysis
- Vendor Management
The latest study provides an insightful analysis of the broad competitive landscape of the global Customs Brokerage market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Customs Brokerage market and pinpoint the fundamental growth trends.
Kuehne+Nagel, United Parcel Service of America, Inc., CEVA Logistics, APL Logistics Ltd., Livingston International, GEODIS, Expeditors International of Washington, Inc., Nippon Express Holdings, A.N. Deringer, Inc., Deutsche Post DHL Group, FedEx, CJ Logistics Corporation, DB Schenker, and C.H. Robinson Worldwide, Inc.
Key Parameters Analyzed in This Section:
- Company Profiles
- Gross Revenue
- Profit margins
- Product sales trends
- Product pricing
- Industry Analysis
- Sales & distribution channels
- North America
- Latin America
- Middle East & Africa
- Asia Pacific
Key Points Covered in This Section:
- Regional contribution
- Estimated revenue generation
- Vital data and information about the consumption rate in all the leading regional segments
- An expected rise in market share
- Forecast growth in the overall consumption rate
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Product Type Segmentation & Application Segmentation:
Mode of Transportation Outlook (Revenue, USD Billion; 2019-2032)
Application Outlook (Revenue, USD Billion; 2019-2032)
- Government and Public Utilities
Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
- Besides offering a vivid depiction of the global Customs Brokerage business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
- The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
- The report scrutinizes the salient factors influencing the growth of the market in the near future.
- The strategic marketing recommendations, crucial information related to the new market entrants, and expansion plans of various businesses are poised to provide the reader with a competitive edge in the market.
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