Press release
Trimble Releases Transporeon Report on Trends and Challenges for North American Transportation
Nearshoring, electrification and freight fraud among the current trends and challenges facing North American truckload transportation WESTMINSTER, Colo., Aug.
About this update from Trimble Inc.
[{"type":"text","content":"Nearshoring, electrification and freight fraud among the current trends and challenges facing North American truckload transportation\n\n \n \n \n \n \n \n\n \nWESTMINSTER, Colo., Aug. 7, 2024 /PRNewswire/ -- Trimble (NASDAQ: TRMB) has released \"The Road Ahead: Key Trends and Capabilities Shaping the North American Freight Transportation Market,\" a Transporeon report identifying key developments impacting the future of the truckload transportation sector in North America.\nThe report analyzes market trends and data based on survey responses from Indago supply chain research community members as well as the Transporeon shipper and carrier community. Due to the current supply surplus in the North American truckload transportation market, the report discusses technology solutions to address the challenges faced by transportation and logistics stakeholders.\nKey highlights of the report are the growing importance of Mexico as a source of U.S. imports, sustainability and the electrification of trucking, California's AB5 bill and freight fraud:\nMarket Challenges: The current state of North America's truckload sector — low demand and ample capacity — have created challenges for carriers. The report highlights the complexity of demand sources contributing to a decline in trucking load requests and discusses the necessary capabilities to compete in the rapidly evolving truckload market.Nearshoring: Driven by the combination of global geopolitical volatility and sustainable emissions goals, the continuing growth of nearshoring is identified as a key trend for truckload-related businesses. As Mexico surpasses China as the leading source of goods imported into the U.S., 88% of small to medium-size supply chain businesses plan to migrate partially to suppliers closer to the U.S., while 45% plan to switch all of them (Capterra). The report examines how these changes may affect the truckload transportation market.Freight Fraud: Freight fraud is a growing risk in the truckload sector, with CargoNet reporting a 59% increase in cargo theft in Q3 2023 compared to Q3 2022. An April 2024 survey found that 48% of respondents experienced cargo theft or freight fraud in the past year. Shippers, carriers and logistics service providers (LSPs) are advised to consider and prevent freight fraud. The report outlines steps to reduce its likelihood.Sustain...