DUBLIN, May 4, 2023 /PRNewswire/ — The “Global Logistics Market Report and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
According to the report, the global logistics market attained a value of USD 10115.6 billion in 2022. Aided by the rapid growth of e-commerce and advancements in supply chain management, the market is projected to further grow at a CAGR of 5.6% between 2023 and 2028 to reach a value of USD 14081.64 billion by 2028.
Logistics refers to the process of planning, implementing, and controlling the efficient flow and storage of goods, services, and related information from the point of origin to the point of consumption to meet customers’ requirements. It encompasses transportation, warehousing, inventory management, and order processing, among other activities. An effective logistics system ensures that products are delivered to customers in a timely manner and in optimal condition.
The rapid growth of e-commerce has been a major driving force behind the logistics market’s expansion. E-commerce platforms rely on efficient logistics systems to deliver goods to customers quickly and accurately, driving demand for advanced logistics services. In addition, the increasing globalisation of trade has led to greater interdependence among countries, necessitating efficient and reliable logistics networks to facilitate the exchange of goods and services.
Another key factor propelling the growth of the logistics market is advancements in supply chain management. These advancements enable businesses to better monitor and manage inventory, reduce lead times, and optimise transportation routes, resulting in cost savings and enhanced customer satisfaction.
The increasing focus on sustainable logistics practices is another trend shaping the growth of the logistics market. Growing concerns about the environmental impact of transportation and logistics activities have prompted companies to adopt greener practices, such as using electric vehicles, optimising routes to reduce fuel consumption, and implementing energy-efficient warehousing solutions. This shift toward sustainability is expected to drive further innovation and investment in the logistics sector.
The global logistics market’s growth is also supported by the development of logistics infrastructure, such as ports, airports, and transportation networks. As countries invest in improving their logistics infrastructure to facilitate trade and economic growth, the market for logistics services is expected to benefit. In addition, government initiatives to streamline customs and trade regulations can further enhance the efficiency of logistics operations, boosting the market’s growth prospects.
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global logistics companies.
Some of the major key players explored in the report 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 Moller – Marsk A/S
- Expeditors International of Washington Inc
- GXO Logistics, Inc
- DSV A/S
Market Segmentation
The market can be divided on the basis of model type, transportation mode, end use, and region.
Market Breakup by Model Type:
- 1 PL
- 2 PL
- 3 PL
- Others
Market Division by Transportation Mode:
- Roadways
- Seaways
- Railways
- Airways
Market Segmentation by End Use:
- Manufacturing
- Consumer Goods and Retail
- Food and Beverages
- IT Hardware and Telecom
- Healthcare
- Chemicals
- Construction
- Automotive
- Oil and Gas
- Others
Market Segregation by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/q89ur4
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SOURCE Research and Markets
