Press release
Logistics Market To Be Driven By The Growing E-Commerce Industry In The Forecast Period Of 2023-2028
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 9.96 trillion
Forecast CAGR (2023-2028): 6.3%
Forecast Market Size (2028): USD 14.37 trillion
Factors such as the rising e-commerce sector and an increase in reverse logistics operations and trade agreements are driving the market expansion. The industry is being propelled forward by the increasing acceptance of IoT-enabled connected devices and the advent of tech-driven logistics services.
Logistics services are used by the e-commerce industry to handle and control e-commerce enterprises' supply chains, allowing them to focus on marketing and other company activities.
As a result of the multiple benefits that logistics provides to the e-commerce industry, adoption of logistics services is increasing at a rapid pace, fuelling the expansion of the logistics market. The growing emphasis on sustainable development has resulted in a surge in demand for green logistics that provide environmentally friendly transport options.
Logistics Industry Definition and Major Segments
Logistics refer to the meticulous planning and execution of a complex operation. In a broad sense, logistics is the management of the flow of products between the point of production and the point of consumption to meet the needs of consumers or companies.
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The market is divided on the basis of model type into:
2 PL
3 PL
4 PL
On the basis of transportation mode, the industry is segmented into:
Roadways
Seaways
Railways
Airways
On the basis of end-use, the industry is divided into:
Manufacturing
Consumer Goods
Retail
Food and Beverages
IT Hardware
Healthcare
Chemicals
Construction
Automotive
Telecom
Oil and Gas
Others
Regionally, the market can be classified into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Logistics Market Trends
The use of logistics services is expanding at a rapid rate, propelling the logistics market forward, due to the multiple benefits provided by logistics to the e-commerce industry. The main drivers of growth are rapid consumer growth and cross-border transactions. In order to keep up with the escalating needs of importers and exporters, measures aimed at increasing global trade activities have increased the demand for logistics.
Other factors driving market expansion include an increase in internet retailing and the growing popularity of online shopping. The advent of last-mile deliveries, logistics automation, and cost savings and lead time reduction due to the use of a multi-modal system are expected to boost market growth.
Key Market Players
The major players in the market are J.B. Hunt Transport Inc., C.H. Robinson Worldwide Inc., CEVA Logistics, FedEx, XPO Logistics Inc., KENCO, and Deutsche Post AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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