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According to the latest report by IMARC Group, titled“ Logistics Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032, ” offers a comprehensive analysis of the industry, which comprises insights on the global logistics market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
How Big is the Global Logistics Market:
The global logistics market size reached US$ 5.4 Trillion in 2023. Looking forward, IMARC Group expects the market to reach US$ 7.9 Trillion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
Market Overview:
Logistics, a critical component of modern commerce, encompasses the organized movement, storage, and handling of goods from origin to destination. At its core, logistics is about ensuring that products or materials reach the right location, in the required quantity, at the optimal time, and in pristine condition. This complex process integrates diverse activities including transportation, warehousing, inventory management, order processing, and packaging. Its efficiency is pivotal in reducing operational costs and enhancing customer satisfaction, thereby playing a vital role in the supply chain. Characterized by a network of transportation modes – road, rail, air, and sea – logistics facilitates the seamless flow of goods on a global scale. It employs advanced technology for tracking and managing goods, ensuring transparency and reliability in delivery. The working mechanism of logistics is a sophisticated orchestration of various elements. It starts with planning the most efficient route and mode of transportation, followed by the execution of movement, all while maintaining effective communication between all parties involved.
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Global Logistics Market Trends:
The global market is primarily driven by the continuous expansion of the e-commerce sector. This trend necessitates a more efficient and scalable logistics infrastructure to manage the increasing volume of online transactions and customer expectations for prompt delivery. Concurrently, technological advancements, such as the integration of artificial intelligence and machine learning in logistics operations, accompanied by the globalization of trade, requiring comprehensive and reliable networks to facilitate the movement of goods across international borders is fueling the market. Furthermore, the rise in consumer expectations for faster and more reliable delivery services is compelling companies to refine and expedite their logistics operations.
Additionally, the impact of urbanization is evident, as it brings forth the need for intricate distribution networks to cater to the needs of growing urban populations. The diversification of supply chains, a strategy adopted by businesses to mitigate risks, is demanding more adaptable and resilient logistics frameworks. Government initiatives, including infrastructure development and supportive trade policies, are also playing a crucial role in enhancing the efficiency and reach of logistics services. The burgeoning retail sector, both online and offline, is directly influencing the demand for advanced logistics solutions. The market is further buoyed by a rising inclination towards third-party logistics services, as businesses seek to outsource logistics operations to specialized providers, thereby driving the overall market growth.
By IMARC group, Some of the Top Logistics Companies Operating in the Logistics Industry are Given Below:
B. Hunt Transport, Inc. 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, LLC DSV Panalpina A/S
Key Market Segmentation:
Breakup by Transportation Mode:
Roadways Seaways Railways Airways
Breakup by Model Type:
Breakup by End-use:
Manufacturing Consumer Goods Retail Food and Beverages IT Hardware Healthcare Chemicals Construction Automotive Telecom Oil and Gas Others
Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
Market Performance (2018-2023) Market Outlook ( 2024-2032 ) COVID-19 Impact on the Market Porter's Five Forces Analysis Historical, Current and Future Market Trends Market Drivers and Success Factors SWOT Analysis Structure of the Market Value Chain Analysis Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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