Logistics Market to Reach US$ 7.9 Trillion, Globally, by 2032 at 4.1% CAGR - IMARC Group

According to the latest report by IMARC Group, titled "Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the industry, which comprises insights on the global logistics market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

How Big is the Global Logistics Market:

The global logistics market size reached US$ 5.4 Trillion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.9 Trillion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.

Factors Affecting the Growth of the Logistics Industry:

• Global E-Commerce Growth:

The global logistics market is significantly influenced by the exponential growth of e-commerce. The proliferation of online shopping platforms and the increasing consumer preference for online purchasing are escalating the demand for efficient and fast logistics services. This trend is marked by the need for sophisticated supply chain solutions to manage the high volume of goods being transported globally. Additionally, the integration of technology in logistics, such as AI and data analytics, is vital in enhancing operational efficiency and meeting customer expectations for rapid delivery. The e-commerce growth, therefore, drives the expansion of the logistics market and encourages innovation in logistics practices.

• Continuous Technological Advancements:

Technological progress is a crucial factor driving the logistics industry. Innovations such as the Internet of Things (IoT), blockchain, and advanced analytics are revolutionizing the way logistics operations are conducted. These technologies enable real-time tracking, improved supply chain visibility, and enhanced efficiency in inventory management. Along with this, the incorporation of autonomous vehicles and drones is set to further disrupt the industry by offering faster and more cost-effective delivery solutions. As businesses increasingly demand more intelligent and agile logistics services, the integration of these advanced technologies ensures the industry's growth and adaptation to changing market needs.

• Globalization of Trade:

The expansion of international trade is a significant driver of the global logistics market. As businesses increasingly operate on a global scale, the need for efficient and reliable logistics services to move products across borders is paramount. This trend is facilitated by trade agreements and the reduction of trade barriers, leading to a more interconnected global economy. Moreover, the logistics industry is essential in supporting this global trade network, offering solutions that manage the complexities of cross-border transportation, regulatory compliance, and varied logistical challenges. The sustained growth in international trade is thus a fundamental factor influencing the robust development of the logistics sector.

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Global Logistics Market Trends:

The global logistics market is witnessing a shift towards sustainability and green logistics, driven by increasing environmental concerns and regulatory pressures. Companies are investing in eco-friendly practices, such as using electric vehicles and optimizing routes for fuel efficiency, to reduce their carbon footprint.

Additionally, the trend of nearshoring is reshaping logistics, as businesses move manufacturing closer to consumer markets to mitigate supply chain risks and reduce transit times. The adoption of digital platforms for freight management is also gaining momentum, enhancing transparency and collaboration across the supply chain. These trends reflect a broader move towards more sustainable, resilient, and technology-integrated logistics solutions.

By IMARC group, Some of the Top Logistics Companies Operating in the Logistics Industry are Given Below:

• 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

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/logistics-market

Logistics Market Report Segmentation:

Breakup by Model Type:

• 2 PL
• 3 PL
• 4 PL

The 3PL (Third-Party Logistics) segment dominates by model type as it offers businesses cost-efficiency, expertise in logistics management, and the flexibility to adapt to changing market demands without significant investment in infrastructure.

Breakup by Transportation Mode:

• Roadways
• Seaways
• Railways
• Airways

Roadways hold the largest segment by transportation mode due to their extensive network, flexibility in routing and scheduling, and the ability to provide door-to-door service, making them indispensable for the majority of short to medium-distance freight transportation.

Breakup by End-use:

• Manufacturing
• Consumer Goods
• Retail
• Food and Beverages
• IT Hardware
• Healthcare
• Chemicals
• Construction
• Automotive
• Telecom
• Oil and Gas
• Others

The manufacturing sector holds the largest segment by end-use, driven by its heavy reliance on logistics for the sourcing of raw materials, distribution of finished goods, and maintaining efficiency in supply chain operations.

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)

Asia Pacific exhibits the largest market regionally, attributable to its rapidly growing e-commerce sector, significant manufacturing base, increasing cross-border trade, and investments in logistics infrastructure in emerging economies.

Key highlights of the Report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• 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

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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This release was published on openPR.