Logistics Market Outlook 2023 | Worth US$ 6.8 Trillion by 2028 | Growth Rate (CAGR) of 4.5% | IMARC Group
The global logistics market size reached US$ 5.2 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 6.8 Trillion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
Logistics refers to the business of transporting, supplying, and delivering goods. It is the detailed organization and implementation of a complex operation. It manages the flow of goods between the origin and the point of consumption to meet customers' requirements. The resources handled in logistics include tangible goods such as materials, equipment, and supplies, as well as food and other consumable items. In defense and military, logistics is concerned with maintaining army supply lines while disrupting those of the enemy. Logistics offers greater visibility into the supply chain, enables companies to reduce overhead expenses, and improves the customer experience.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Logistics Market Trends:
The global market is primarily driven by significant growth in the e-commerce industry. This is attributed to the growing sales of goods via online retail channels, further enhanced by the convenience offered by these platforms at a better price. In line with this, the increasing reverse logistics operations and the rising trade-related agreements are significantly contributing to market growth across the globe. Furthermore, the escalating adoption of IoT-enabled connected devices is creating a positive outlook for the market. Apart from this, rapid technological advancements, such as automated material handling equipment, GPS, and biometrics, are helping organizations and businesses to work competently, thereby positively influencing market growth.
Moreover, the rising focus on sustainable development has led to an augmenting demand for green logistics that offer sustainable transport solutions. Besides, the leading market players are focusing on providing value-added services, including door-to-door delivery, cross-docking, procurement and production of products, packaging, and inventory management. This, in turn, is expected to propel the market growth. Additionally, the widespread availability of custom-made, industry-specific third-party services from reputed logistics service providers is acting as a growth-inducing factor.
By IMARC group the report has also analyzed the competitive landscape of the market with some of the top logistics companies being
• J.B. Hunt Transport, Inc.
• C.H. Robinson Worldwide, Inc.
• CEVA Logistics
• FedEx Corp.
• United Parcel Service, Inc.
• Expeditors International of Washington Inc.
• XPO Logistics Inc.
• Kenco Group Inc.
• Deutsche Post DHL Group
• Americold Logistics, LLC
• DSV Panalpina A/S
Key Market Segmentation:
Breakup by Transportation Mode:
Breakup by Model Type:
• 2 PL
• 3 PL
• 4 PL
Breakup by End-use:
• Consumer Goods
• Food And Beverages
• IT Hardware
• Oil & Gas
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/logistics-market
Key highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
• Scope and Methodology
• Executive Summary
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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