reveals much more about Uber Freight than had previously been known. And what the company says about their opportunities in freight logistics is, at times, extremely misleading.
The brokerage portion of the market - $72 billion - is the addressable portion of the market. As a rule, truck brokers serve small and medium sized shippers. Large shippers engage in long term contracts with large carriers. A certain carrier becomes the preferred vendor on a certain lane for a shipper, another carrier on another lane. It is only when the preferred carriers on a lane reject a tender, that large shippers reach out to brokers to secure capacity.
"Uber Freight greatly reduces friction in the logistics industry by providing an on-demand platform to automate and accelerate logistics transactions end-to-end. Uber Freight connects carriers with the most appropriate shipments available on our platform, and gives carriers upfront, transparent pricing and the ability to book a shipment with the touch of a button." True.GlobalTranz'
Further, there is something of a tech race going on surrounding transportation technology. In 2018, $2.7 billion was invested in transportation. This is up from$1.3 billion in 2017 and $849 million in 2016. There are techno-brokers with similar solutions, with Convoy being perhaps the best known.
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