Freight and Logistics Market Insights, Trends Forecast 2022-28

The global freight and logistics market size was valued at USD 13.4 billion in 2021 and is poised to grow at a significant CAGR of 4.3% during the forecast period 2022-28. Transportation of goods and commodities by rail, trucks, road cars, big boats carrying containers, and airplanes is referred to as freight and logistics. For complex worldwide supply chains, it provides contract logistics, warehousing, and value-added services, and organizes and executes cutting-edge integrated logistics solutions. The growth of the freight and logistics market is being driven by the expansion of trade-related agreements and global logistics infrastructure, as well as technological advancements in the logistics industry for quick delivery and supply chains. Consumer expectations have altered as a result of the emergence of e-commerce and the digital global market phenomenon. Consumers now anticipate quick shipment, free shipping, and affordable prices. This strict delivery timetable puts tried-and-true supply chain and logistics models to the test, forcing companies to alter their strategies in order to achieve the low-cost, on-demand delivery service that customers have come to expect. E-commerce is consuming a bigger share of the retail market. The logistics and transportation sectors would undoubtedly be impacted by this exponential growth and demand, as organizations must prepare to handle increased demand and delivery expectations.

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Freight and Logistics Market Growth Factors:
The market is expanding as a result of factors such as the expanding e-commerce sector, rising reverse logistics activities, and rising trade-related agreements. Also, the expansion of technologically advanced logistics services and the rising popularity of IoT-enabled linked devices are predicted to fuel market expansion. However, lack of manufacturer control over logistical services, subpar infrastructure, and greater logistics costs restrain industry expansion. Other aspects that are projected to support market expansion include the advent of last-mile deliveries, logistics automation, cost reduction and lead time reduction due to the use of a multi-modal system.

The global freight and logistics market segmentation:
1) By Function: Freight Transport, Freight Forwarding, Warehousing, Value-added Services, Other Functions
2) End User: Manufacturing and Automotive, Oil and Gas, Mining, and Quarrying, Agriculture, Fishing, and Forestry, Construction, Distributive Trade (Wholesale and Retail Segments - FMCG included), Other End Users (Telecommunications and Pharmaceuticals)

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Freight and Logistics Market Regional Analysis:
As demand for Australian agricultural products from other countries has grown, leading to a rise in agricultural exports, so has the need for cold chain logistics. Australia dominates the nation's cold chain logistics sector and is a significant player in the production and export of perishable goods. The biggest importers of these goods are China, Japan, and the US, but because of the Corona Virus's effects, demand is anticipated to fluctuate for a short while. Notwithstanding claims made by animal rights activists and their desire to become vegans, red meat consumption has been steadily increasing around the world for the past ten years.

Major players working in the Freight And Logistics Market are C.H. Robinson, Ceva Logistics, DHL, Expeditors, FedEx, Geodis, J.B. Hunt Transport Services, Kuehne + Nagel, Lineage Logistics, Penske Logistics, Ryder Supply Chain Solutions.

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This release was published on openPR.