The Global Logistics Market was valued at US$ XX billion in 2021 and is predictable to reach US$ XX billion by 2030 which is projected to attain a CAGR of XX % during the forecast period from 2021- 2030.
Logistics is defined as the process of arranging and moving resources from one location to the storage of the desired destination, including equipment, food, liquids, inventories, materials, and people. It is the management of commodity flow from a point of origin to a point of consumption in order to meet customer needs.
The demand for cost-effective logistics, reverse operations, rise in adoption of IoT devices, and supply chain solutions across several industrial verticals are driving the growth of the logistics market. Customer demand is increasing, and methods to limit logistics costs are becoming increasingly important in creating the future of the logistics sector.
However, the logistics market growth is hampered by key players’ lack of control over logistical services, weak infrastructure, and increased logistics costs. Furthermore, the rise of last-mile deliveries, logistics automation, cost reduction & lead time reduction due to the implementation of a multi-modal system are all expected to boost the market growth.
Reverse logistics activities are becoming increasingly popular as the e-commerce industry grows.
E-commerce facilitates the online buying and sale of goods. Third-party logistics service providers handle product delivery to customers. Furthermore, the e-commerce industry employs logistics services to manage and control e-commerce enterprises' supply chains, allowing them to concentrate on the marketing and other commercial activities. The usage of logistics services is rapidly expanding as a result of the various benefits that logistics brings to the e-commerce industry, fueling the growth of the global logistics market.
Trade agreements are growing across the globe.
Globalization is fueled by dynamic market conditions and a strengthening global economy. Various trade-related activities are increasing as a result of increased globalization. As a result, manufacturers and merchants are finding it increasingly difficult to maintain track of these activities in a timely manner which is augmented to drive the logistics industry for logistics companies. Furthermore, the growth of the global market is an important factor in the logistics market expansion. For price-conscious customers who need a bigger assortment of high-quality products delivered on time, logistics services are becoming increasingly vital. As a result, the expansion of the logistics market is fueled by an increase in trading activities as a result of globalization.
Last-mile deliveries are becoming more common, and logistics are becoming more automated.
The final step of the delivery process from a distribution center or facility to the end-user is referred to as last-mile logistics. Thanks to the ever-increasing proliferation of e-commerce enterprises, the provision of effective last-mile deliveries is seeing a great boom in the logistics industry. Furthermore, receiving a package the same day it is delivered is growing more common, leading in the growth of last-mile delivery services. In addition, as the pharmaceutical and food and beverage e-commerce industries expand, the logistics industry is focusing more on last-mile delivery solutions. Furthermore, logistics companies continued attempts to provide effective last-mile deliveries are expected to boost the logistics market's growth in the near future.
Segmentation and Scope of the Global Logistics Market
By Transportation Method
Rest of World
Middle East & Africa
Prominent players in the Global Logistics Market among other includes