The global logistics industry is set to exceed $16 Trillion by 2032.
A recent study from Allied Market Research show that the global logistics market was valued at $9,833.8 trillion in 2022 and is projected to reach $16,794.7 trillion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
The expansion of the e-commerce industry, increased reverse logistics operations and more trade-related agreements were highlighted by the report as factors that will fuel growth with the global logistics sector.
In addition, rise of tech-driven logistics services and growing adoption of IoT-enabled connected devices are also expected to drive the market growth. However, lack of control of manufacturers on logistics service, poor infrastructure, and higher logistics costs hinder the market growth.
Further, the emergence of last mile deliveries, logistics automation, and cost cutting & lead time reduction due to adoption of multi-modal system are some of the factors that are anticipated to foster the market growth.
Also the study stated that a lack of control over manufacturers using logistics services, poor infrastructure and higher costs are all factors that could hinder the market’s growth.
Report Key Highlighters:
- The logistics market analysis study covers 17 countries. The research includes a segment analysis of each country in terms of value ($billion) for the projected period 2023-2032.
- The study incorporated research methodology aims to present a comprehensive outlook on global markets and aid key stakeholders & players in making well-informed decisions to accomplish their ambitious growth goals.
- Over 1,500 product literatures, industry statements, annual reports, and other comparable materials from major logistics industry participants were reviewed to gain a better understanding of the market.
- The logistics market is fragmented, with several players including A.P. Moller–Maersk, C.H. Robinson Worldwide, Inc., DB Schenker, Deutsche Post AG (DHL Group), DSV, FedEx, Geodis, Kuehne+Nagel, Nippon Express, and United Parcel Service, Inc. Also tracked key strategies such as acquisitions, product launches, developments, partnership, mergers, expansion etc. of the players operating in the logistics industry.
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