Logistics Market Size, Share, Price, Trends, Growth, Analysis, Report, Forecast 2024-2032
According to a new report by Expert Market Research titled, “Global Logistics Market Share, Size, Report and Forecast 2024-2032″, the global logistics market reached a value of USD 9.96 trillion in 2023. Aided by the expansion of global trade, rise of e-commerce, and technological advancements in transport and warehouse management, the market is projected to further grow at a CAGR of 6.3% between 2024 and 2032 to reach a value of USD 14.37 trillion by 2032.
Logistics, fundamentally, refers to the management of the flow of goods and services from the point of origin to the point of consumption. It ensures efficient and effective transportation and storage of goods, including services and related information. The logistics sector, therefore, is the backbone of global commerce, propelling goods across continents, from manufacturers to end-users.
As per the logistics market analysis, the proliferation of e-commerce is a significant driver in the global market’s upswing. As consumers increasingly pivot towards online shopping, retailers and e-commerce giants require robust logistical support to ensure timely and accurate deliveries. This shift towards online shopping is not just limited to B2C markets; B2B e-commerce platforms are also leveraging logistics to streamline their operations, facilitating smoother trade flows.
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Another driving factor in logistics market growth is the increasing globalisation of industries. As businesses expand their footprints across borders, there’s an ever-growing need for comprehensive logistics solutions that can seamlessly manage cross-border transactions and deliveries. Moreover, the logistics market is also witnessing tailwinds from the introduction of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT). These technologies enhance route optimisation, warehouse management, and predictive analytics, further refining the logistics process.
Emerging markets, with their burgeoning middle-class and increasing internet penetration, present a significant opportunity to propel the logistics market demand. These regions, previously seen as challenging to penetrate due to infrastructural constraints or regulatory issues, are now becoming viable markets, thanks to investments in infrastructure and a more welcoming regulatory environment. The shift in manufacturing bases to countries with lower operational costs is further stimulating the demand for efficient logistics solutions in these areas.
Sustainability is another frontier that the logistics market is navigating. As the world grapples with the challenges of climate change, there’s a pressing need for greener logistics solutions. This has led to the emergence of electric delivery vehicles, sustainable packaging, and the optimisation of delivery routes to reduce carbon footprints and further increase value of the logistics market size. Companies that successfully integrate these eco-friendly solutions will not only contribute to a greener planet but also position themselves favourably in an increasingly eco-conscious global marketplace.
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Market Segmentation
The market can be divided based on model type, transportation mode, end user, and region.
Market Breakup by Model Type
• 1 PL
• 2 PL
• 3 PL
• Others
Market Breakup by Transportation Mode
• Roadways
• Seaways
• Railways
• Airways
Market Breakup by End User
• Manufacturing
• Consumer Goods and Retail
• Food and Beverages
• IT Hardware and Telecom
• Healthcare
• Chemicals
• Construction
• Automotive
• Oil and Gas
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global logistics market. Some of the major players explored in the report by Expert Market Research are as follows:
• J.B. Hunt Transport Services, Inc.
• CEVA Logistics AG
• XPO, Inc.
• Global Leader, Inc.
• Kenco Group Inc.
• Deutsche Post AG
• Kuehne + Nagel International AG
• FedEx Corporation
• United Parcel Service, Inc.
• A.P. Møller – Mærsk A/S
• Expeditors International of Washington Inc.
• GXO Logistics, Inc.
• DSV A/S
• Others
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