05-Jun-2023 | Facts and Factors
According to the Facts & Factors report, the global logistics market size was nearly $4.09 billion in 2022 and is set to increase to about $12.09 billion by 2030 along with securing the highest CAGR of 17.1% from 2023 to 2030.
Logistics is a component of supply chain management dealing with forward as well as reverse goods flow. Reportedly, it deals with the flow of goods from point of origin to point of consumption as per the requirements of the consumers. In addition to this, the resources managed in logistics include tangible goods such as food & consumable products, supplies, materials, and equipment. Moreover, logistics deal with product or material movement from one unit to another i.e., from production unit to assembling units to distribution units. Apart from this, logistics helps in reducing a massive operating cost of a firm.
Browse the full report “Logistics Market Size, Share, Growth Analysis Report By Model (1PL, 2PL, 3PL, and 4PL), By Transportation (Road, Sea, Rail, and Air), By End-User (Automotive, Industrial Machinery & Equipment, Healthcare, FMCG, and Energy & Utilities), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” at https://www.fnfresearch.com/logistics-market
Escalating penetration of logistics in the e-commerce sector & integrated logistics management activities will steer the expansion of the global logistics market. The increase in online shopping activities post-COVID pandemic has increased the significance of logistics activities across the globe.
In addition to this, the use of data analytics with a surge in acceptance of new technologies will steer the growth of the market across the globe. For instance, data analytics enables firms in comparing rates of shipping cargo & goods from multiple tools on a sole platform. Large-scale use of integrated logistics management tools will drive global market trends. An increase in trade agreements between various firms across the countries will embellish the expansion of the market across the globe. Efficiency in the upstream supply chain activities can be attributed to effective logistics operations, thereby steering the growth of the market globally.
Nevertheless, the lack of uniformity in government standards has posed a threat to the expansion of the global logistics industry. However, the evolution of new technologies including artificial intelligence, machine learning, and integrated logistics is projected to open new growth opportunities for the industry across the globe.
The global logistics market is divided into model, transportation, end-user, and region.
The model segment of the logistics market is sub-segmented into 1PL, 2PL, 3PL, and 4PL segments. Furthermore, the 4PL segment, which accounted for over three-fifths of the global market share in 2022, is predicted to establish its segmental dominance in the coming years. The segmental surge in the next eight years can be credited to benefits offered by 4PL such as minimization of labor costs, reduction in inventory expenses, and elimination of wasteful processes. In addition to this, 4PL assists the firms in enhancing operational efficacy and facilitating cost-savings.
On the basis of transportation, the logistics industry across the globe is divided into rail, road, sea, and air segments. The air segment, which held the major share of the global industry in 2022, is set to continue its segmental domination in the upcoming years. The expansion of the segment in the analysis timeline can be owing to the ability of air transportation to effectively handle various logistics operations and help in their structured documentation and storage. In addition to this, air cargo needs less cargo handling and effective as well as lightweight packaging. Furthermore, a firm can easily ship goods via air route to many countries across the globe quickly.
In terms of end-user, the logistics market across the globe is segmented into automotive, industrial machinery & equipment, healthcare, FMCG, and energy & utilities segments. Moreover, the healthcare segment, which dominated the segmental growth in 2022, is anticipated to record the fastest CAGR in the forthcoming years. The segmental growth over the forecast timeline can be due to a surge in the importance of real-time assistance in the healthcare segment.
Furthermore, Asia-Pacific, which contributed nearly three-fourths of the overall share of the global logistics market in 2022, is predicted to lead the regional market expansion in the upcoming years. The regional market surge in the next few years can be subject to the presence of giant firms in France, Italy, the UK, Russia, and Germany. Apart from this, the easy availability of strong healthcare infrastructure in the continent will steer the regional market surge.
Market Size in 2022
USD 4.09 Billion
Projected Market Size in 2030
USD 12.09 Billion
CAGR Growth Rate
Key Market Players
FedEx Corp., United Parcel Service Inc., XPO Logistics Inc., J.B. Hunt Transport Services, Americold Logistics LLC, Expeditors International of Washington Inc., C.H. Robinson Worldwide Inc., Kenco Group, Deutsche Post DHL Group, Ceva Holdings LLC, DSV Air & Sea Inc., and others.
By Model, Transportation, End-User, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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Key players in the global logistics market include FedEx Corp., United Parcel Service, Inc., XPO Logistics Inc., J.B. Hunt Transport Services, Americold Logistics, LLC, Expeditors International of Washington Inc., C.H. Robinson Worldwide, Inc., Kenco Group, Deutsche Post DHL Group, Ceva Holdings LLC, and DSV Air & Sea Inc.
- In the second half of 2021, DHL, a logistics firm having its headquarters in Germany, put forward a list of 40 trends that will favorably influence the growth of the logistics industry across the globe. A few of these trends include diversifying supply chain activities, decarbonization, and providing substitute energy solutions. The strategic initiative will enlarge the scope of growth of the logistics business across the globe.
- In the third quarter of 2022, FedEx Corporation, a U.S.-based company in the transport and e-commerce industry, joined hands with Ford Pro, a key firm manufacturing commercial fleet automotive and telematics. The strategic move is aimed at generating green transportation tools and enhancing delivery processes with proficient door-to-door product delivery.
- In the second half of 2019, Microsoft Corporation deployed AI and cloud for Maersk, a global logistics company. The move will help Maersk in monitoring each vessel of the fleet and optimize its routes across 350 ports in real-time. The initiative will expand the scope of growth of the logistics business of Maersk across the globe.
The global Logistics market is segmented as follows:
- Industrial Machinery & Equipment
- Energy & Utilities
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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