Technology

Less-than-Truckload (LTL) Market to grow by USD 120.31 Billion (2024-2028), driven by e-commerce advances, Report on AI’s impact on redefining market landscape – Technavio

Published

2 years ago

December 16, 2024

NEW YORK, Dec. 15, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global less-than-truckload (LTL) market size is estimated to grow by USD 120.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.3% during the forecast period. Advances in e-commerce in retail sector is driving market growth, with a trend towards emergence of big data in global less-than-truckload (LTL) market. However, rising prices of ltl carriers poses a challenge. Key market players include Allcargo Logistics Ltd., ArcBest Corp., Averitt Express Inc., Challenger Motor Freight Inc., CMA CGM SA Group, Debon Logistics Co. Ltd., Deutsche Post AG, Estes Express Lines, FedEx Corp., J B Hunt Transport Services Inc., JRC Dedicated Services Co., Knight Swift Transportation Holdings Inc., Kuehne Nagel Management AG, Nippon Express Holdings Inc., Old Dominion Freight Line Inc., R L Carriers Inc., SouthEastern Freight Lines, United Parcel Service Inc., XPO Inc., and Yellow Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Type (Long-haul carriers, Superregional carriers, and Regional carriers), Capacity (Light LTL volume and Heavy LTL volume), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

Allcargo Logistics Ltd., ArcBest Corp., Averitt Express Inc., Challenger Motor Freight Inc., CMA CGM SA Group, Debon Logistics Co. Ltd., Deutsche Post AG, Estes Express Lines, FedEx Corp., J B Hunt Transport Services Inc., JRC Dedicated Services Co., Knight Swift Transportation Holdings Inc., Kuehne Nagel Management AG, Nippon Express Holdings Inc., Old Dominion Freight Line Inc., R L Carriers Inc., SouthEastern Freight Lines, United Parcel Service Inc., XPO Inc., and Yellow Corp.

Key Market Trends Fueling Growth

Less-than-truckload (LTL) logistics companies and shippers are utilizing big data to gain a competitive edge in the industry. Big data analysis offers advantages in operational efficiency, customer experience, and new business models. In terms of operational efficiency, LTL companies can optimize resource utilization, delivery time, and geographical coverage through advanced real-time processing and predictive techniques. Customer experience is enhanced by analyzing millions of touchpoints to gain market intelligence and product feedback. By sharing data with supply chain partners, logistics networks can become more efficient, leading to the development of new services, discovery of new demand patterns, and improved demand forecasting accuracy. Real-time analytics and end-to-end supply chain visibility enable quick action on potential revenue losses and increased asset uptime. The integration of big data solutions will positively impact the growth of the global LTL market by increasing throughput, enabling resource optimization, and facilitating near real-time supply planning using IoT data feeds.

The Less-than-Truckload (LTL) market is experiencing significant trends in freight transportation. With increasing demand for oil, petrol, and diesel from truckers, oil marketing companies are playing a crucial role. LTL services offer scalability and affordability for shippers with small to medium-sized cargo. Trailer capacity is a key factor, with density-based pricing and operational efficiency driving competition among freight carriers. Economic conditions and industry sectors, such as retail, manufacturing, agriculture, fishing, forestry, construction, oil and gas, mining, and quarrying, influence LTL freight volume. Startups and specialized carriers are disrupting the market with flexible services. E-commerce and MSME sector growth fuel retail shipping demand. Freight pricing trends include volume-based pricing and fuel surcharges. Full Truckload carriers and ground shipping dominate, but air, rail, and specialized services cater to specific needs. Full Truckload carriers offer larger capacity, while LTL services provide flexibility for various industries. Road freight services remain a significant part of the logistics sector.

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Market Challenges

The Less-than-truckload (LTL) market is currently facing several challenges that are driving up costs and intensifying competition. Rising fuel prices, increasing demand, e-commerce growth, driver shortages, and tightening truckload capacity are all contributing factors. LTL carriers are investing heavily in their fleets, drivers, and facilities to stay competitive, but face risks associated with fuel pricing volatility. Last-mile delivery, which involves individual deliveries to numerous locations, adds significant labor and fuel costs. Intense competition among last-mile delivery providers, based on pricing and delivery time, further pressures profitability. Additionally, real-time tracking requirements for e-commerce deliveries necessitate costly geolocation technologies and infrastructure. These factors are leading LTL carriers to increase freight rates, which may constrain market growth during the forecast period.The Less-than-Truckload (LTL) market faces several challenges. Truckers struggle with oil demand fluctuations, affecting petrol and diesel prices for freight transportation. Oil marketing companies’ crude oil prices impact freight carriers’ operational efficiency and affordability. Shippers require scalability and flexibility, especially for small and medium shipments in various industries like retail, manufacturing, agriculture, fishing, forestry, construction, oil and gas, mining, and quarrying. Startups and MSME sector rely on LTL services for density-based pricing. Economic conditions and freight pricing trends influence the logistics sector’s road freight services, affecting full truckload carriers, specialized carriers, and e-commerce businesses. Freight transport volume, retail shipping, industrial shipping, ground shipping, air shipping, and rail shipping are all affected by these challenges. Fuel costs remain a significant concern for freight carriers, impacting their bottom line.

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Segment Overview

This less-than-truckload (ltl) market report extensively covers market segmentation by

Type 1.1 Long-haul carriers1.2 Superregional carriers1.3 Regional carriersCapacity 2.1 Light LTL volume and Heavy LTL volumeGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Long-haul carriers- The global less-than-truckload (LTL) market’s largest revenue contributor is the long-haul carrier segment. Long-haul LTL carriers, also known as national LTL carriers, transport shipments within 3 to 5 business days, covering an average distance of approximately 1,200 miles per haul. These carriers operate through a hub-and-spoke network and often have labor unions. The long-haul LTL carriers segment is projected to grow steadily due to economic conditions in the country. Long-haul LTL carriers offer value-added services, such as packing, unpacking, and door-to-door freight collection. Despite competition from other transportation modes, long-haul LTL carriers remain popular due to their efficiency and timely delivery. Businesses benefit from outsourcing their freight and transportation needs, as managing in-house transportation requires significant investment and expertise. The long-haul LTL carriers segment provides additional services, including project logistics, network planning, cargo insurance, value-chain optimization, and customs brokerage. The increase in industrial activities worldwide is expected to fuel the growth of the long-haul LTL carriers segment in the LTL market.

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Research Analysis

The Less-than-truckload (LTL) market plays a crucial role in transporting goods for various industries such as Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and Retail. Freight volumes in the LTL market are driven by the demand for transporting smaller consignments, making it an essential mode of transport for MSMEs. E-commerce and the logistics sector have significantly contributed to the growth of the LTL market in recent years. Freight pricing trends in the LTL market are influenced by factors like fuel prices, trailer capacity utilization, and cargo density. Scalability and affordability are key benefits of LTL services, making them a popular choice for shippers with smaller freight volumes. Road freight services are the primary mode of transport in the LTL market, offering flexibility and efficient delivery solutions. The LTL market caters to various industries, including Crude oil, where it is used for transporting drilling equipment and other supplies. Freight carriers offer customized solutions to meet the unique needs of different industries, ensuring timely and efficient delivery of cargo. The market is expected to continue growing due to increasing demand for affordable and flexible freight transportation solutions.

Market Research Overview

The Less-than-truckload (LTL) market caters to the shipping needs of various industries such as Agriculture, Fishing, Forestry, Construction, Manufacturing, Oil and Gas, Mining and Quarrying, and others. Freight transport volume in the LTL market is driven by the demand for retail products, e-commerce, and MSME sector growth. Freight pricing trends are influenced by factors like fuel prices, operational efficiency, and economic conditions. LTL services offer scalability and affordability for small to medium shipments, making them popular among businesses. Road freight services dominate the LTL market due to their flexibility and wide reach. Logistics sector players provide LTL services for various industries, including retail and industrial shipping. Fuel prices, particularly for diesel and petrol, significantly impact LTL freight costs. Truckers and oil marketing companies play crucial roles in the LTL market, as they manage the supply of crude oil and the distribution of fuel to LTL carriers. Freight carriers offer LTL services for various industries, with full truckload carriers and specialized carriers catering to specific needs. Shippers look for trailer capacity and cargo density-based pricing to optimize their logistics costs. The LTL market is seeing innovation with the entry of startups offering volume LTL services and new pricing models like density-based pricing. Overall, the LTL market is essential for businesses seeking efficient and cost-effective freight transportation solutions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeLong-haul CarriersSuperregional CarriersRegional CarriersCapacityLight LTL Volume And Heavy LTL VolumeGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Bybit Renews P2P Super Deal with Up to 99% Savings for New Users

Published

8 seconds ago

November 3, 2026

DUBAI, UAE, Nov. 3, 2026 /PRNewswire/ — Bybit, the New Financial Platform trusted by more than 80 million users worldwide, has launched the latest round of its Bybit P2P Super Deal, a new-user exclusive promotion offering guaranteed coupons worth up to 99 USDT and savings of up to 99% on eligible P2P orders.

From now to March 30, 2027, P2P Super Deal continues Bybit’s long-running tradition of rewarding newcomers with meaningful incentives as they begin their crypto journey on the platform’s popular peer-to-peer marketplace.

Eligible new users may complete a first-time deposit or trade of just 10 USDT via Bybit P2P to unlock a guaranteed coupon valued between 10 and 99 USDT, which can be applied to the next eligible P2P order for savings of up to 99%.

How It Works

Signing up and verifications: New users must create a Bybit account and complete the necessary identity verification and visit P2P Super Deal to confirm eligibility.First deposit starting at 10 USDT: Participants can locate the “P2P Super Deal” task on the Bybit P2P Trading page and complete an initial deposit.Lucky draw chance: Upon completing the deposit task, a spin of the lucky draw wheel offers a chance to win a coupon valued at up to 99 USDT.Applying the coupon: The coupon can be applied to the next P2P order, reducing the fiat amount paid and delivering savings of up to 99%.

The latest Bybit P2P Super Deal presents a bonus opportunity. For participants who complete an eligible trading or deposit task at 100 USDT or more, an additional spin is available for them to unlock more chances to win higher-value rewards.

Bybit offers year-round benefits for the trading community across its products and services. Bybit P2P combines zero trading fees, support for a wide range of fiat currencies, and an enterprise-grade escrow system, making it an intuitive and powerful platform for both new and experienced traders.

More details on event mechanics, eligibility, and terms and conditions are available at: Learn more about the P2P Super Deal

#Bybit / #NewFinancialPlatform

About Bybit

Bybit is The New Financial Platform.

We believe every person should have access to every financial opportunity on earth. That’s why we’re building the first intelligent platform that connects anyone, anywhere to the world’s finance.

Trusted by more than 80 million users worldwide, Bybit brings together investing, trading, payments, and wealth-building in a single secure and intelligent ecosystem. Through the combination of AI-powered technology, deep global liquidity, robust security, and transparent operations, Bybit makes global finance more accessible, efficient, and empowering for everyone.

Built for everyone. Powered by intelligence. Open to the world.

Learn more at Bybit.com.
For more details about Bybit, please visit Bybit Press
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Technology

Asset manager margins squeezed as infrastructure bill climbs, PwC finds

Published

10 seconds ago

November 3, 2026

Infrastructure moves up the strategic agenda as asset managers confront margin pressure

LUXEMBOURG, Nov. 3, 2026 /PRNewswire/ — Infrastructure is moving from the back office to the centre of asset managers’ strategy. With profit per AuM down 19% since 2018 and projected to fall another 9.1% by 2030, decisions on what to build, buy or access through partners now shape how firms compete, according to PwC’s Global Asset Management Infrastructure: Rethinking the industry’s piping report. 67% say fee compression is limiting their ability to invest.

Spending is also tied to the past: only 23% of asset managers direct most of their technology budget to new capabilities, while 29% spend more than 70% of it maintaining legacy systems.

Surveying 150 asset managers and 50 infrastructure providers, the report finds AI is sharpening these constraints. Some 24% cite data fragmentation and 17% legacy systems as major barriers to scaling AI.

Roland Kastoun, Global Asset and Wealth Management Advisory Leader, PwC, notes: “The industry’s profits per dollar managed have fallen by almost a fifth, and the bill for the pipes keeps rising. The managers who survive the next five years won’t be the ones with the flashiest AI, but rather the ones who fixed the so-called boring stuff first.”

Market data is seen as poor value for money, with 58% ranking it among the most expensive infrastructure layers relative to the value delivered, ahead of regulatory reporting systems (47%) and core technology platforms (46%).

Meanwhile, some 70% of infrastructure providers expect a larger share of industry revenues, while 68% name hyperscale cloud providers as the main emerging threat.

“Seven in ten infrastructure providers expect to take a bigger slice of the pie, which tells you where the power in this industry is quietly shifting,” said Björn Ebert, Financial Services Leader, PwC Luxembourg.

Some 44% favour hybrid sourcing models combining in-house, bought and partnered capabilities, compared with 21% who prefer to buy, 18% to partner and 13% to build in-house.

The report identifies four emerging infrastructure archetypes, namely infrastructure orchestrators, digital and tokenisation platforms, specialist modular providers and integrated asset managers. No single model fits every firm. Each must decide what to own, what to standardise and where a specialist can do the job better. Those who decide early will be better placed to protect margins through 2030.

Media Contact
Penta Group, pwc@pentagroup.com

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Technology

Temu Partners with Latvian IT Cluster to Help Local Businesses Grow Online

Published

13 seconds ago

November 3, 2026

RIGA, Latvia, Nov. 3, 2026 /PRNewswire/ — Temu has signed a memorandum of understanding (MoU) with the Latvian IT Cluster (Latvijas IT klasteris) to support Latvia’s digital business ecosystem, providing local small and medium-sized enterprises (SMEs) with broader access to digital tools, knowledge, and international e-commerce opportunities.

Under the MoU, Temu will collaborate with the Latvian IT Cluster on its programs and activities, host educational webinars and exchange insights with local industry experts. The collaboration brings together Temu’s experience as an international marketplace operator and Latvian IT Cluster’s work helping businesses across sectors adopt digital tools.

Temu and Latvian IT Cluster hosted “The Path to Growth: Navigating E-commerce for European SMEs” on Oct. 20, drawing participants from local businesses across various industries. The webinar covered Temu’s Local Seller Program, logistics and regulatory requirements, and included a Q&A with Temu representatives.

“We are delighted to welcome Temu as a member of the Latvian IT Cluster. The involvement of internationally recognized companies in our ecosystem creates new opportunities for Latvian businesses to gain valuable knowledge, build connections, and strengthen their competitiveness,” said Aiga Irmeja, Chair of the Board at Latvian IT Cluster. “We are pleased that our partnership has already resulted in joint activities exploring e-commerce opportunities in Europe, and we hope this is just the first step towards further joint initiatives that will support the presence of Latvian businesses in the digital economy and international markets.”

The focus on practical guidance and direct dialogue responds to the challenges of complexity and connection, two of the key barriers to growth identified in Temu’s recent Small Business Insights Report, which was informed by meetings and discussions with over 100 European trade organizations.

“We want more small businesses in Latvia to benefit from the opportunities that e-commerce creates,” said a Temu spokesperson. “Working with Latvian IT Cluster brings us closer to local entrepreneurs, helping us understand their needs and support their ambitions to reach new customers and grow across Europe.”

Temu opened its Local Seller Program to businesses in Latvia in October 2025. In March 2026, it signed a logistics MoU with national postal operator Latvijas Pasts to support delivery and returns for local sellers.

About Temu

Temu is a global e-commerce platform connecting consumers with millions of manufacturers, brands and business partners. Operating in more than 90 markets worldwide, Temu is committed to providing affordable, high-quality products that enable customers to live better lives.

About Latvian IT Cluster

Latvian IT Cluster is an ICT association with around 100 members and 20 years of experience in advancing Latvia’s digital ecosystem. Through national and international initiatives, including the European Digital Innovation Hub, Digital Europe, Team Latvia and AI Studio, the association fosters innovation, digital transformation, knowledge sharing and cross-sector collaboration.

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