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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

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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

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Viettel Group and Vietnam’s Government Cipher Committee Unveil Security Chip Embedding Vietnamese Cryptography in Silicon

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HANOI, Vietnam, Nov. 3, 2026 /PRNewswire/ — Vietnam’s Government Cipher Committee and Viettel Group have unveiled VGC v1.0, a security chip integrating a domestically developed cryptographic algorithm directly into silicon, alongside the country’s first domestically designed secure semiconductor platform.

The project addresses concerns over potential data exposure associated with reliance on imported chips. By embedding cryptographic functions directly into hardware, Vietnam’s Government Cipher Committee and Viettel Group aim to strengthen Vietnam’s control over the design and verification of technologies used to protect sensitive information.

VGC v1.0 contains 300 million transistors in a 10 × 10 mm package and is fabricated using a 28-nanometre CMOS process. In performance tests, it performed encryption and decryption approximately 15 times faster than a software-only solution carrying out the same tasks. The first batch passed technical tests and received certification for socio-economic applications in the first quarter of 2026. Technical safeguards were also applied to protect the design before fabrication, reducing risks of information leakage and reverse engineering.

The Government Cipher Committee’s M2 unit established security requirements, developed the cryptographic algorithm and defined evaluation criteria, while Viettel Semiconductor Center designed and implemented the chip. Based on the open RISC-V instruction set architecture, the underlying platform enables Vietnamese engineers to modify processor designs and reuse established verification processes for future chip generations.

VGC v1.0 has already seen initial deployment in secure USB storage devices for Party, government and defence agencies. Planned applications include supporting Vietnam’s national digital signature certification system, which has more than two million digital certificates in circulation. Other potential uses span financial data protection, connected cameras and sensors, and critical infrastructure systems in electricity, water, oil and gas, and telecommunications. Products intended to protect state secrets would require further testing and certification under applicable standards.

“Researching, designing and developing secure semiconductor chips is a formidable challenge, requiring years of accumulated expertise, technological capabilities and highly skilled talent. Yet we believe that starting later does not mean accepting dependence on others. With the right strategy, focused resources and sustained commitment, we can steadily close the gap and move towards mastering technologies of strategic importance to our country,” said Lieutenant General Tao Duc Thang, Chairman and CEO of Viettel Group.

At the launch, the Vietnam’s Government Cipher Committee and Viettel Group signed an agreement covering plans for volume production, multicore security chips, specialist workforce development and testing on real devices. Viettel is also building a semiconductor fabrication plant in Hoa Lac as part of broader efforts to develop domestic capabilities across chip design, manufacturing and packaging.

Beyond the initial chip, the initiative establishes a foundation for future generations of security hardware, supporting Vietnam’s long-term efforts to reduce technological dependence and strengthen control over critical digital technologies.

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SOURCE Viettel Group

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USDGO Plus SP Among First Products on OSL’s Instant Redemption

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Eligible professional investors redeeming units of USDGO Plus SP through OSL may receive redemption proceeds on the same day, subject to OSL’s eligibility criteria and applicable terms and conditions

HONG KONG, Nov. 3, 2026 /PRNewswire/ — Units of PrimePlus SPC – USDGO Plus SP held via OSL are included in the initial batch of products covered by Instant Redemption, a feature OSL Group announced on 2 November 2026 for tokenised real-world asset (RWA) products on its licensed platform.

Eligible professional investors redeeming designated products through OSL may receive their redemption proceeds on the same day, subject to OSL’s eligibility criteria, product coverage and applicable terms and conditions. Designated products may also be subscribed for and redeemed in USDGO.

USDGO Plus SP is a segregated portfolio of PrimePlus SPC, a Cayman Islands segregated portfolio company registered with CIMA as a mutual fund. Under the co-operation framework of 2WA and OSL, fund units stay in custody via OSL, 2WA does not custody client fund units, and Instant Redemption is an OSL platform feature*.

OSL continues to provide custody and distribution for USDGO Plus SP. Instant Redemption does not change the fund’s redemption terms, registration status, offering documents, risk disclosures or investor eligibility requirements.

*Instant Redemption is only available to investors on the OSL platform who qualify as professional investors.

About 2WA

2WA is a real-world asset (RWA) and digital asset technology development company focused on expanding the utility of regulated assets. 2WA applies blockchain technology, including tokenization, to broaden how regulated assets such as fund units and listed equities are held, used and mobilized. Throughout, the underlying assets remain with licensed custodians. 2WA’s objective is to create new use cases for these assets and, in doing so, enhance their overall value for investors and institutions.

USDGO sits at the core of 2WA’s business. As an active contributor to the USDGO ecosystem, 2WA uses USDGO as the primary settlement and liquidity asset across its RWA products, and works alongside partners to broaden its adoption, deepen its liquidity and support the long-term growth of its ecosystem. For more information, visit https://2wa.io

About OSL

OSL Group (HKEX: 863) is a global stablecoin infrastructure company that strives to provide compliant and efficient digital financial infrastructure services globally, empowering enterprises, financial institutions and individuals to seamlessly exchange, pay, trade, and settle between fiat and digital currencies. Grounded in the core values of Open, Secure, and Liquid, it is committed to building a more efficient ecosystem that connects global markets and enables instant, seamless and compliant value movement worldwide. For media inquiries, please contact: media@osl.com

Media contacts

2WA: media@2wa.io
OSL: media@osl.com

Disclaimer

This press release is for information purposes only. It does not constitute an offer, solicitation, recommendation or inducement to buy, sell or otherwise deal in any digital asset, security or other financial product, and it is not financial, investment, legal, tax, accounting or other professional advice and should not be relied on as such. Views expressed do not necessarily reflect the official positions of OSL Group or its affiliates. Descriptions of products and services are for general reference only, and participation is subject to applicable terms, conditions and regulatory requirements. This press release may contain forward-looking or indicative information; actual outcomes may differ materially, and none of OSL Group, 2WA, PrimePlus SPC or their respective affiliates undertakes any obligation to update it.

USDGO Plus SP has not been authorised by the Securities and Futures Commission under section 104 of the Securities and Futures Ordinance (Cap. 571) (SFO), and its offering documents have not been reviewed by any regulatory authority in Hong Kong. Interests in USDGO Plus SP may be offered in Hong Kong only to professional investors, and only on the basis of the fund’s offering documents. Investing in digital asset funds involves significant risks, including the possible loss of the entire amount invested. Market-neutral strategies do not eliminate risk, and funding rates may turn negative. Past performance is not indicative of future results.

Instant Redemption is a feature of OSL’s platform. Its availability is subject to OSL’s eligibility criteria, limits and platform terms, and may be changed, suspended or withdrawn at any time. It does not amend the redemption terms of USDGO Plus SP and is not a guarantee of liquidity or of the return of any amount invested.

This press release is intended only for “professional investors” as defined in the SFO and its subsidiary legislation, must not be distributed or used in any jurisdiction where doing so would breach applicable laws, and does not constitute active marketing to the public in Hong Kong. Readers are responsible for complying with the laws of their own jurisdiction. The stablecoins referred to in this press release may be “specified stablecoins” under the Stablecoin Ordinance (Cap. 656); their issuers and OSL Digital Securities Limited (OSLDS) are not licensed under that Ordinance to conduct regulated stablecoin activities in Hong Kong. OSLDS is a permitted offeror under that Ordinance and offers such products in Hong Kong only to clients it has verified and accepted as professional investors.

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SOURCE 2WA

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THE KOREA INDUSTRY DAILY: ROBOTWORLD 2026 to Spotlight Physical AI and AI-Driven Manufacturing With 402 Exhibitors From 17 Countries

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Rainbow Robotics, Neuromeka and Samhyun to exhibit Nov. 4–7 near Seoul; NVIDIA and Qualcomm to participate in conference

GOYANG, South Korea, Nov. 3, 2026 /PRNewswire/ — ROBOTWORLD 2026 will bring together 402 companies from 17 countries at the Korea International Exhibition Center (KINTEX) Nov. 4–7. The 1,198-booth exhibition will explore how Physical AI and AI-driven manufacturing systems are being developed for industrial applications.

International exhibitors will include Taiwan’s Advantech, Japan’s FANUC and China’s Booster Robotics, PAXINI and Unitree. A Canadian delegation of 10 technology companies will participate in the exhibition and conference, while companies from India and Bangladesh will exhibit at ROBOTWORLD for the first time.

The International Robot Business Conference 2026 will extend the discussion of industrial applications through 36 sessions on Nov. 4–5. Its three tracks — Manufacturing AX (AI transformation), Humanoid with Physical AI and Mobility — will address AI adoption in production, robot intelligence and mobility across industrial and service environments. The Manufacturing AX track will feature presentations by representatives from Qualcomm and Advantech, while a speaker from NVIDIA will present in the Humanoid with Physical AI track. Qualcomm will also sponsor the exhibition.

According to the International Federation of Robotics’ World Robotics 2026 report, global industrial robot installations reached a record 603,307 units in 2025, marking an 11% increase from the previous year and surpassing 600,000 units for the first time. Asia accounted for 76% of all newly installed industrial robots, with 457,315 units installed, up 14% year-on-year. Global installations are forecast to reach 655,000 units in 2026, reflecting the continued expansion of industrial automation.

Against this industrial backdrop, the exhibition will explore Physical AI technologies that enable robots to perceive their surroundings, assess conditions and perform physical tasks. Korean exhibitors will address both task intelligence and the platforms and components that enable movement and manipulation.

Rainbow Robotics will exhibit its RBY mobile humanoid and RBQ quadruped series, while Neuromeka will present its Physical Skill Foundation (PSF) technology alongside the EIR humanoid and NAMI mobile humanoid platforms. Neuromeka describes PSF as supporting task execution involving unfamiliar objects and changing work environments. Samhyun will showcase its AXLON actuator series for robot joint actuation, torque control and linear motion, together with the BOLDUM autonomous transport robot for industrial material handling with payloads of up to 3 metric tons.

Beyond individual robots, the exhibition will examine AI-driven manufacturing through systems that combine collaborative robots, autonomous mobile robots (AMRs), machine vision and manufacturing software. Exhibitors will demonstrate how process data and material flows can inform robot and equipment operations across production processes.

Humanoid, food-tech and healthcare pavilions will provide focused views of these technologies and their applications. The newly established humanoid pavilion will cover complete robots, actuators, reducers, sensors, controllers and AI software. The food-tech pavilion will feature cooking, serving and kitchen automation. The returning healthcare pavilion will cover surgical, rehabilitation, wearable and care robots, as well as hospital logistics.

Business programs will connect the technology presentations with opportunities for procurement, exports and investment. Export and procurement matchmaking sessions will run Nov. 4–6, with suppliers and prospective buyers matched in advance for one-to-one meetings. A seminar on entering international markets will be held on Nov.5 providing practical information on certification requirements in different countries.

Global Scale-up Day on Nov. 6 will be open to small and medium-sized enterprises as well as startups in AI and robotics seeking investment and growth capital. Conducted entirely in English, the program will bring together venture capital firms, accelerators, strategic investors and M&A specialists.

“With increased participation by global companies and the addition of national and special pavilions, we hope this year’s exhibition will showcase the capabilities of Korean robotics companies and expand opportunities for practical cooperation between Korean and international businesses,” a ROBOTWORLD representative said.

ROBOTWORLD 2026 will take place at KINTEX Exhibition Center 1, Halls 3–5, in Goyang. Information on exhibitors, conference sessions and business programs are available at https://eng.robotworld.or.kr/.

About ROBOTWORLD

ROBOTWORLD is an international robotics exhibition covering industrial and service robots, core components, AI software and manufacturing automation solutions, alongside a conference and business programs. ROBOTWORLD 2026 is hosted by South Korea’s Ministry of Trade, Industry and Resources (MOTIR) and jointly organized by the Korea Association of AI Robot Industry (KAR), the Korea Institute for Robot Industry Advancement (KIRIA) and the Institute of Control, Robotics and Systems (ICROS).

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SOURCE THE KOREA INDUSTRY DAILY

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