In 2019, the global logistics market per annum estimated sum was $950.7 billion. This gross was based off economy activity. The US contributes to 10% of that figure. With freight trucking transportation being the dominant mode of freight transport, the distribution of goods and services are fulfilled by outsourced Third Party Logistics (3PLs).
The year 2020 has also seen the For-Hire industry operators account for at least 50% of the industry’s freight. This is a generated average of $350 billion in annual revenue.
As of February 2021, a recorded 996,894 For-Hire Carriers has been accounted for. The revenue generated in 2021 by just the top 15 for- hire carrier companies is an estimated $62.8 billion. That is 17.94% of the year 2020’s annual revenue. Though the annual estimated revenue for enclosed automotive transport companies is not disclosed, it is a multi billion dollar stakeholder in the freight industry.