T Map Mobility, a subsidiary of SK SQUARE, will enter the middle-mile logistics market in February with the launch of its data-based logistics brokerage solution, T Map Cargo.
According to the report, citing a mobility industry source, the company has filed a patent for a freight rate calculation model that automatically calculates the optimal price per unit of transport.
This is the first entry of a domestic mobility company into the domestic middle-mile logistics market, estimated at KRW 30 trillion.
Middle-mile logistics is the transportation process between companies that involves transporting raw materials to production facilities or shipping manufactured goods to distribution centers and agencies.
Middle-mile logistics have been slow to digitize compared to the first and last mile due to the complexity of transportation options.
T Map has been preparing to enter the middle-mile market for several years and acquired logistics startup YLP as a subsidiary last June.
T Map plans to simultaneously target shippers and borrowers to improve the accuracy of its freight calculation model and increase the success rate of middle-mile logistics services.
“At T-Map, we leverage big cargo data to analyze shipper requests and the real-time truck demand and supply ratio across the nation, providing optimal fare unit prices in real-time,” said an official from T-Map, according to the article. “The closed pilot test we conducted resulted in a 93.6% success rate for dispatch.”
The company will use Cargo Big Data to determine the optimal freight rate in real-time by analyzing the shipper’s request and the nationwide ratio of demand and supply of trucks in real-time.
The industry expects the digital logistics ecosystem to continue to grow with the entry of T Map and other players such as KakaoMobility, which recently acquired a 49% stake in Freight Yard, a freight brokerage platform, with the National Federation of Freight Vehicle Transport Brokers.
Innovative technologies are expected to benefit borrowers and shippers and drive growth in the industry, helping both parties.
Please also read.
T Map Mobility secures funding from KB Kookmin Bank.
T Map Mobility adds a Rent-a-car service by aligning with Car More.
Naver Map will reportedly join Android Auto Ecosystem.
Personal information disclosure via its Map application holds back Kakao.
Mars Auto: Creating Autonomy Driving Technology without LiDAR and HD Map.
SK Square reveals its Nov. and Dec. 2021 business result.
South Korean government allows cab rides on mobile platforms for the first time in 40 years.
