Press release
Freight and Logistics Market: Predicted Growth, Key Drivers, and Trends For 2024-2029
Freight And Logistics Market Size
What Is The Projected Market Size Of The Global Freight And Logistics Market And Its Growth Rate?
The freight and logistics market has seen steady growth over the years and is projected to continue on this trajectory:
- Estimated Market Size in 2024: $17.26 billion
- Projected Market Size in 2025: $18.09 billion (CAGR of 4.8%).
- Predicted Market Size in 2029: $23.16 billion (CAGR of 6.4%)
The growth in the coming years is expected due to factors such as integration of AI and machine learning, expansion of autonomous vehicles, digital transformation and IoT integration, globalization and cross-border trade, and blockchain in supply chain traceability.
What Is Driving The Growth In The Freight And Logistics Market?
The freight and logistics market is experiencing a surge due to increasing global trade activities. As global trade activities involve import and export of goods and services across international borders, freight and logistics services have become crucial for transporting these goods through various modes of transport. With the World Trade Organization projecting a 3.2% growth in world merchandise trade volume in 2024, the freight and logistics market is expected to witness substantial growth.
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Who Are the Key Players Driving Freight And Logistics Market Growth?
Leading companies in the freight and logistics market include:
- United Parcel Service Inc.
- DHL International GmbH
- Deutsche Post AG
- FedEx Logistics Inc.
- A.P. Moller-Maersk Group
- Kuehne + Nagel International AG
- DSV Panalpina A/S
- C.H. Robinson Worldwide Inc.
- Bolloré Logistics
- Ryder System Inc.
- Nippon Express Co. Ltd.
- Expeditors International of Washington Inc.
What Are The Key Trends In The Freight And Logistics Market?
The freight and logistics market is transforming through several key trends:
- Automation and robotics
- Data analytics and predictive insights
- Last-mile delivery innovations
- Sustainable practices and green logistics
- Demand for faster delivery options
What Are The Segments Of The Global Freight And Logistics Market?
The global freight and logistics market can be segmented into:
- Type: Airways, Railways, Roadways, Waterways
- Function: Freight Forwarding, Warehousing, Value-added Services, Other Functions
- End User: Manufacturing And Automotive, Oil And Gas, Mining, And Quarrying, Agriculture, Fishing, And Forestry, Construction, Distributive Trade, Other End Users
Which Region Leads The Freight And Logistics Market?
Asia-Pacific was the largest region in the freight and logistics market in 2024. During the forecast period, North America is expected to be the fastest-growing region. Other regions include Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Freight And Logistics Market Global Market Report?
- Market Size Analysis: Analyze the Freight And Logistics Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Freight And Logistics Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Freight And Logistics Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Freight And Logistics Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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