With the growth of small businesses and e-commerce development, the number of smaller shipments being transported around the world has drastically increased. Along with parcel shipments, less-than-truckload (LTL) shipping is changing and evolving and being influenced by the latest e-commerce trends, fuel rates, online shipping services and more.
If you are shipping LTL freight, it is better to be in the stream of industry trends and tendencies instead of falling behind. We have summed up all the main forecasts of how LTL freight shipping will look in the upcoming years:
One of the most evident trends expected in the LTL industry is increased demand caused by commerce growth. However, the consequences of this evolving are contradictory. The rising demand for LTL freight will cause new shipping companies to enter the market. Which could potentially make rates jump. We will likely see a reshaping of less-than-truckload shipments due to new developments and requirements for the new services that may appear.
Another innovation that is already reshaping LTL is new technology. This includes automated transportation management systems, electronic logging devices (ELD), mobile apps and optimized mobile websites, which are believed to drastically change load posting, booking and quoting in the coming year. All of these tech tools will be driven towards freight control, visibility, tracking, and a better user experience.
Despite the fact that LTL rates will most likely continue to skyrocket, the situation will still be more satisfactory than full truckload due to better opportunities to hire young talents. Less-than-truckload services offer more flexibility and a wider range of positions compared to full-time trucking positions.
It is hard to keep track of all of the changes in such a dynamic industry as LTL shipping. Setting a partnership with a reputable third-party logistics provider will take the hassle out of your shipping, and will help effectively manage your freight.
If you need any help with your LTL freight shipping, contact us with any you have!