Logistics Market Size is Projected to Reach USD 12,256 Billion by 2022

The exponential growth of online shopping worldwide is acting as a significant driver of the logistics market

In a general business sense, logistics is managing the flow of things between the point of origin and the point of consumption to satisfy customer or corporate requirements. Global logistics industry growth is directly linked to the advancement of the flow of foreign trade and the current economic climate. It involves integrating information, transport, inventory, warehousing, handling materials, packaging, and protection. Favorable government trade policies have resulted in increased demand for logistics services, creating opportunities for expansion to existing vendors.

From 2016 to 2022, the global logistics market size is projected to grow at a CAGR of 3.48 percent to reach USD 12,256 Billion by 2022. The report will cover the forecast till 2026.

Due to the recent COVID 19 impact, logistics companies are concentrating on the continued supply of essential commodities, the creation of supply chain stabilization task force, and distribution of personal protective equipment. Most countries are under pressure due to a lack of supply because of panic buying. As a result, logistics companies are actively monitoring the current situation, and new approaches are being implemented to ensure continued supply.

TRENDS INFLUENCING THE LOGISTICS MARKET SIZE

• Rising Internet-based retailing is boosting the growth of the logistics market size. The exponential growth of online shopping worldwide is acting as a significant driver of the logistics market. Furthermore, cross-border sales are proved to be a significant driver of overall e-commerce growth, which in turn will result in the growth of the logistics market.
• Exponentially proliferating the Internet of things (IoT) in the logistics sector enables freight companies and consumers to direct access to the company network via the Internet. The logistics infrastructure is constantly upgraded to meet the need. Increasing the use of RFID, Bluetooth, and other newly introduced technologies such as Drone Delivery and Driverless vehicles are being witnessed in logistics services. These growing technological advancements act as the catalyst to the growth of the logistics market size.
• The main factors driving globalization are competitive business dynamics and change in the global economy. As globalization is on the rise, different trade-related activities are experiencing an increase. Thus, it is becoming difficult for manufacturers and distributors to keep an effective track of these activities. For logistics companies, this aspect is expected to drive the logistics market size.
• High inventory prices and insufficient warehousing space are expected to hamper global logistics market growth to some degree. Additionally, the introduction of environmentally friendly logistics technologies creates opportunities for target market players.

LOGISTICS MARKET SHARE ANALYSIS

The Asia Pacific accounts for the largest logistics market share in 2016, followed by North America and Europe. In the forecast period, Asia Pacific is expected to grow at the highest CAGR. This growth can be attributed to the increased adoption of outsourcing logistics services.

GLOBAL LOGISTICS MARKET KEY SEGMENTATION

The Global Logistics Market Is Segmented Based On Mode Of Transport, End User Industry And Geography.

By Mode Of Transport

• Railways
• Roadways
• Airways
• Waterways

By End User Industry

• Healthcare
• Manufacturing
• Trade And Transportation
• Telecommunication
• Government And Public Utilities
• Banking And Financial Services
• Retail
• Media And Entertainment
• Information Technology
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• LAMEA

Key Players

• Deutsche Post Dhl
• Kuehne+Nagel
• The Maersk Group
• Db Schenker Logistics
• H.Robinson
• Dsv Global Transports And Logistics
• Panalpina
• United Parcel Service (Ups)
• Supply Chain Solutions
• Geodis
• Others,

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-3T152/logistics

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