Staying ahead of key trends is crucial. If you’re looking to gain a competitive edge and understand where the industry is headed in 2025, our recent webinar, “Top Broker Trends for 2024”, delivered invaluable insights from two of the leading experts in freight analytics on what we learned in 2024.
Ken Adamo, Chief of Analytics at DAT, and Dean Croke, Principal Analyst at DAT, shared their expertise on the current state of the freight market, providing a clear snapshot of the challenges and opportunities trucking companies, brokers, and logistics professionals face.
Watch the full webinar recording now.
2024: A challenging year for freight
The webinar kicked off with acknowledgment that 2024 has been a tough year for freight, with 27 consecutive months of contraction following 22 months of growth in the previous freight cycle. This backdrop of volatility makes it more important than ever for industry professionals to stay informed and agile.
Trucking capacity trends: Large vs. small fleets
Dean Croke delved into the current state of supply trends, highlighting the shift in trucking capacity. He reported a 7.9% year-over-year decrease in large truckload carrier capacity, indicating that larger carriers are feeling the squeeze. On the other hand, smaller fleets have faced an even steeper decline — 13% year-over-year, with a total reduction of 25% since the peak in Q1 2022.
While these declines have leveled off, the market is still in a state of flux, and understanding these dynamics is critical for fleet operators and brokers who need to adapt to changing conditions.
Flat demand? Understanding freight volumes
When it comes to demand, the picture is mixed. Key findings indicate that freight volumes are flat or moving sideways, with no major catalysts on the horizon. However, there’s a return of seasonality in the market, which could provide some predictability as we move through 2024.
Rising rates: signs of a new freight cycle?
One of the most positive developments highlighted was the growth in freight rates across several sectors. Dry van, refrigerated, and flatbed rates are showing year-over-year positive growth, suggesting the early signs of a new freight cycle. For trucking companies and brokers, this means an opportunity to adjust pricing strategies and capitalize on improved rates in key sectors.
The full webinar is packed with actionable insights to help you navigate the freight market and position your business for success. Whether you’re a fleet operator, broker, or logistics professional, the strategies and data shared by DAT experts will help you make more informed decisions in this uncertain environment.
Watch the full webinar recording now.
Learn more about how DAT’s analytics solutions can help you navigate market volatility at dat.com/iq.
