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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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Sunrate and Netstorming Partner to Expand Payment Options for Global Travel Businesses

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LONDON, Nov. 3, 2026 /PRNewswire/ — Sunrate, the global payment and treasury management platform, today announced a strategic partnership with Netstorming, a leading travel technology and software development company, at World Travel Market London 2026. The partnership will make Sunrate Cards available through Netstorming’s network, giving travel businesses greater choice and flexibility in managing B2B travel payments.

“Sunrate has established a strong presence in global travel payments and continues to evolve alongside the industry. As future technologies reshape how travel businesses operate, we see opportunities to enable more intelligent and seamless payment experiences, with next-generation capabilities such as our recently launched Agentic Card reflecting this ambition,” said Paul Meng, Co-founder and CEO of Sunrate. “Our partnership with Netstorming brings payment innovation closer to the technology powering global travel, supporting our vision for the future of travel payments.”

Through the partnership, Sunrate Cards will be added to Netstorming’s portfolio of payment options, enabling eligible travel businesses to use Sunrate Cards for supplier and other business payments. Designed for businesses operating across borders, Sunrate Cards provide greater control over payment flows through configurable spending parameters, enhanced security controls and real-time transaction visibility.

Sunrate Cards support settlement in more than 16 currencies, helping travel companies manage payments across different markets and currency zones while reducing the operational complexity associated with traditional payment methods.

“Travel is one of the world’s most interconnected industries, and its payment infrastructure must keep pace. Our partnership with Netstorming combines its deep travel technology expertise and network with Sunrate’s global payment capabilities, giving travel businesses another efficient way to manage supplier payments,” said Paul Batchelor, Head of Business Development, Europe at Sunrate. “We look forward to making B2B travel payments simpler, more flexible and more scalable.”

“Our network is the heart of our business. We believe that Sunrate’s solutions will provide our customers with greater flexibility expanding distribution opportunities. Together, our technology at Netstorming and Sunrate’s payment infrastructure will help drive stronger B2B connectivity and create new opportunities across the global tourism market,” said Nicola Rizzardini, CEO and Co-founder at Netstorming.

The partnership further strengthens Sunrate’s presence across the global travel technology ecosystem. Sunrate works with leading travel technology and payment platforms, enabling travel businesses to access capabilities spanning card issuance, international payments, global collection, global acquiring and treasury solutions.

About Sunrate

Sunrate is a leading global payment and treasury management platform for businesses worldwide. Founded in 2016, Sunrate has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge infrastructure, global network, and unified solutions.

Sunrate operates through offices across key markets, including Singapore, Kuala Lumpur, Jakarta, Hong Kong, Shanghai, and London. The company partners with the top global financial institutions, such as Citibank, Standard Chartered, J.P. Morgan. Sunrate is also the principal member of Mastercard and Visa. To learn more about Sunrate, visit https://www.sunrate.com/.

About Netstorming

Netstorming is an Italian tech company specializing in the development of software solutions for the tourism industry. Founded in 2004, the company works with international tour operators, travel agencies and DMCs. Over the years, strong partnerships with major Italian and international operators, combined with a highly skilled team constantly updated on travel market trends and IT innovation, have positioned the company as a reference in travel technology.

Netstorming offers its core products and a wide range of technology services to the global tourism market. The company believes continuous innovation is key to delivering high performance tools that meet clients’ needs, working closely with partners to develop customized solutions that streamline operations and boost productivity.

Main products:

TOWeRS — B2B online booking systemBRIDGE — Centralized API/XML hotel integration solutionMIDA — Online accounting management system

More information: https://www.netstorming.net/

View original content:https://www.prnewswire.com/news-releases/sunrate-and-netstorming-partner-to-expand-payment-options-for-global-travel-businesses-302919266.html

SOURCE Sunrate

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New AI transformation company raises funding to advance AI adoption in Europe

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LONDON, Nov. 3, 2026 /PRNewswire/ — Hg, the leading investor in European and transatlantic technology and services businesses, today announced an agreement to invest, with participation from Anthropic and angel investors, in a new AI transformation company to help European companies advance responsible AI adoption and product innovation.

The new company, which will formally launch later this year, will be an independent entity that works with organizations to advance AI adoption and AI-native product build, moving beyond pilots to measurable operational impact. The company will build on Claude, with forward deployed engineers, helping businesses move beyond simply adopting AI to building real, defensible advantage from it.

Built for Europe, the company will shape the organizations that will define Europe’s AI era – supporting businesses with distinctive IP, deep domain expertise and long-standing customer relationships that operate across a uniquely complex landscape of languages and regulatory regimes.

Steve Batchelor and JB Brian, Co-CEOs of Hg, commented: “This builds on Hg’s early conviction in the transformational power of AI. We’re delighted to announce our investment in this new company and look forward to further advancing Europe’s position within the global AI ecosystem.”

Steve Corfield, Head of Global Business Development and Partnerships at Anthropic, commented: “Businesses are looking for experienced teams to help them put Claude to work. We’re proud to invest in companies like this as they grow to meet that need.”

About Hg

Hg is an investor in European and transatlantic technology and services businesses. We are an AI leader in private equity, helping to build sector-leading enterprises that supply critical applications or workflow services to deliver intelligent automation for their customers.

We take an active approach to value creation, combining deep end-market knowledge with world class operational resources to support entrepreneurial leaders looking to scale and drive AI transformation.

With a vast European network and strong presence across North America, Hg currently has over $110 billion in assets under management and more than 400 employees. Our portfolio spans around 60 businesses worth over $195 billion in aggregate enterprise value, employing more than 140,000 people and consistently growing revenues at more than 16% annually.

 

View original content:https://www.prnewswire.co.uk/news-releases/new-ai-transformation-company-raises-funding-to-advance-ai-adoption-in-europe-302927628.html

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Pudu Robotics Unveils PUDU TOMO S Series: Extending Lawn Care Automation to Blade Sharpening

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Bringing commercial robotics expertise home, PUDU combines automated blade care, precise edge cutting and intelligent navigation for easier lawn maintenance.

AMSTERDAM, Nov. 3, 2026 /PRNewswire/ — Pudu Robotics, a global leader in commercial robotics, today officially unveiled the PUDU TOMO S Series at its product launch event, bringing its robotics expertise into the home. Built around the SharpLoop™ Self-Sharpening System, the robotic mower series combines automated blade care with precise lawn maintenance to help homeowners achieve consistently clean cuts with less routine upkeep.

PUDU’s move into home robotics builds on years of serving demanding commercial environments. Working with globally renowned companies including Walmart, Toyota, Marriott and Pizza Hut has strengthened its experience in product reliability, adaptability, efficient deployment and ongoing support. Enterprise requirements for operational stability have helped PUDU develop and deploy robotics at scale, providing a foundation for its expansion into everyday home life.

Underpinning this expansion is PUDU’s “One Brain, Multiple Embodiments” architecture, which brings together embodied navigation, manipulation and interaction, alongside motion control and multi-robot coordination. This scalable foundation supports different robot forms and applications, enabling PUDU to bring its capabilities into the home.

“Bringing robotics home means giving people more time to enjoy everyday life,” said Felix Zhang, CEO of PUDU. “With PUDU TOMO, we are applying years of commercial robotics experience to lawn care, combining reliable performance with automation that extends from mowing to blade maintenance. By reducing the routine work behind a well-kept lawn, we are bringing our mission of making work easier and life better into people’s homes.”

PUDU TOMO S Series: Self-Sharpening System for Consistently Clean Cuts

Automated mowing saves time, but keeping blades sharp remains a recurring task for homeowners. The PUDU TOMO S Series brings blade care into the mowing cycle, combining automatic sharpening with powerful cutting to maintain lawn quality with less routine intervention.

At its core, the SharpLoop™ Self-Sharpening System automatically sharpens the rotary blades at the charging station when needed. This tool-free mow-return-sharpen-repeat cycle helps preserve blade sharpness and cutting performance over time. By reducing routine blade maintenance and replacement, it means less hands-on work with sharp blades and more time for homeowners to relax and enjoy their gardens.

The Lift-Cut-Discharge System tackles tall, dense and wet grass with dual 636 W high-torque motors driving the blades at up to 6,000 RPM. Aerodynamic high-lift blades raise flattened grass into the cutting path, while a dedicated rear discharge channel guides clippings away to help prevent buildup and blockages—delivering cleaner cuts with less clogging and manual rework.

Attention to detail extends to the lawn’s finish. PUDU TOMO’s Zero Edge Cutting combines an offset cutting deck with intelligent side sensing and a responsive side bumper. The deck positions the cutting path close to the boundary, while sensing and bumper feedback help guide movement along walls, trees, flower beds and open lawn edges, reducing uncut strips and manual trimming. Meanwhile, 180° rear-wheel zero-turn steering enables smooth, tight turns with less turf disruption. Alternating mowing directions and perimeter return routes further support an even appearance with fewer visible tracks.

All-wheel drive helps PUDU TOMO tackle challenging lawns with confidence. Four independent high-torque hub motors provide traction on slopes up to 45°. A floating cutting deck follows ground contours, while independent suspension supports obstacle crossing up to 6 cm.

Triple-Sense Navigation combines 360° LiDAR, AI Vision and network RTK for centimeter-level positioning without a local RTK reference station. One-Tap Auto Mapping identifies lawn boundaries and plans routes from the first run, eliminating boundary wires and manual mapping.

The PUDU TOMO S Series comes in three versions for lawns from 1,500 m² (0.37 acres) to 5,000 m² (1.24 acres), with sales expected in early spring 2027. For pricing and regional availability, visit PUDU HOME and subscribe for product news and launch updates.

About PUDU TOMO

TOMO is Pudu Robotics’ consumer robotic lawn care product line, redefining the standard of robot mowing through innovative cutting technologies that make lawn care simpler than ever. Featuring the world’s first self-sharpening rotary-blade robotic mower, the TOMO lineup frees homeowners from blade maintenance and replacement, delivering consistently precise, high-quality cuts—season after season.

Backed by Pudu Robotics, ranked No. 1 globally in commercial service robotics by both revenue and shipment volume, with over 130,000 robots shipped across more than 85 countries and regions and more than 1,900 patent applications worldwide, PUDU TOMO brings this proven technological foundation into the home, making effortless, worry-free lawn care accessible to households around the world.

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SOURCE Pudu Robotics

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