The Global Logistics Market size was valued at USD 14.35 Bn in 2022 and is expected to reach USD 23.36 Bn by 2029, at a CAGR of 7.20 %
Logistics Market Report Scope and Research Methodology :
The research methodology used for this report involves extensive data collection and analysis, including primary and secondary research, to provide accurate and reliable insights into the Logistics Market.
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Logistics Market Dynamics:
In today’s globalized world, logistics plays a crucial role in maintaining and enhancing the efficiency, effectiveness, and value addition in international trading activities. For instance, the recent announcement of a free trade agreement (FTA) between India and the UK in various sectors is expected to significantly boost the growth of the Logistics Market.
The rise of e-commerce platforms and the increasing reliance on IoT services are key drivers of the logistics market. As online deliveries become more prominent, the demand for logistics services is on the rise. Additionally, industries worldwide are increasingly favoring technology-driven services, further fueling market growth.
Logistics Market Regional Insights:
North America: In 2022, North America held the largest market share (35.93%). The USA boasts one of the world’s largest and most developed logistics markets, with its logistics sector contributing nearly 8.3% of its GDP in 2022. The use of technology, including Warehouse Management Systems (WMS) and data collection tools, has enabled accurate inventory movement tracking, driving market growth.
Asia Pacific: The Asia Pacific region is expected to witness the highest CAGR of 7.31% during the forecast period. Increased demand for logistic services, exports, and imports, as well as in-country logistics, is fueling market growth. Trade growth between Asia and the rest of the world is substantial, and the Asia e-commerce logistics market is set to account for a significant portion of market growth during the forecast period.
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Logistics Market Segmentation:
by Transportation Mode
by Logistics Type
Logistics Market Key Players:
- 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
- DSV Panalpina A/S.
- Moller – Maersk
- Nippon Express
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