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The trucking industry is facing a tepid financial outlook amid volatile market conditions compelled by the ongoing tariff-fueled global trade war, experts said.

In DAT’s second acquisition in six months, the Beaverton, Ore.-based company added automated invoice payment to the truckload freight marketplace and research group’s product suite.

The deal, which closed Dec. 17, brings Trucker Tools’ platform suite for freight visibility, digital load booking and carrier engagement under the umbrella of DAT’s operations.

A timeline for a rebound in freight rates and market conditions remains muddy into the second half of 2024, according to executives and analysts.

From a carrier’s perspective, the way shippers procure transportation can seem arbitrary, with limited thought or imagination. In reality, their approach has become more sophisticated.

The spot market is struggling to rebalance as the rate of carriers exiting has slowed despite sluggish demand.

The trucking spot market has remained in a down cycle for more than a year as the number of trucks and drivers diminished — albeit at a slower rate than the decline in overall freight demand.

DAT Freight & Analytics and FourKites formed a strategic partnership intended to bring real-time, end-to-end supply chain visibility to the DAT network, the companies announced May 26.

An increasing number of loads are shifting onto the spot market amid tight conditions in trucking, according to recent data by DAT Freight & Analytics.

DAT Freight & Analytics introduced a subscription-based service for freight brokers Feb. 12 to help with spot and contract transactions.