Portland, OR, July 17, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Logistics Market by Mode of Transport (Railways, Airways, Roadways, and Waterways), By End Use (Healthcare, Manufacturing, Aerospace, Telecommunication, Government & Public Utilities, Banking & Financial Services, Retail, Media & Entertainment, Technology, Trade & Transportation, and Others) and By Model (1PL, 2PL, 3PL, and 4PL): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global logistics market industry generated $9,833.8 billion in 2022, and is anticipated to generate $16,794.7 billion by 2032, witnessing a CAGR of 5.6% from 2023 to 2032.
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Prime determinants of growth
The growth in the e-commerce industry coupled with a rise in reverse logistics operations and surge in trade-related agreements are anticipated to drive the market growth. In addition, the rise of tech-driven logistics services and an upsurge in adoption of IoT-enabled connected devices are 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. Furthermore, 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 market growth.
Logistics Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $9,833.8 billion |
| Market Size in 2032 | $16,794.7 billion |
| CAGR | 5.6% |
| No. of Pages in Report | 324 |
| Segments covered | Mode of Transport, End-User, Model, and Region. |
| Drivers | Growing e-commerce industry coupled with rise in reverse logistics operations Rise in trade related agreements Rise of tech-driven logistics services and surge in adoption of IoT-enabled connected devices |
| Opportunities | Emergence of last mile deliveries coupled with logistics automation Cost cutting and lead time reduction due to adoption of multi-modal system |
| Restraints | Poor infrastructure and higher logistics costs Lack of control of manufacturers on logistics service |
Covid-19 Scenario
- Due to the COVID-19 pandemic and the subsequent global lockdowns, the logistics market faced a downturn.
- However, COVID-19 pandemic acted as catalyst for innovation and transformation within the logistics sector. Many companies learned valuable lessons and implemented measures to enhance their resilience and adaptability in the face of future disruptions.
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The roadways segment to maintain its leadership status throughout the forecast period
Based on mode of transport, the roadways segment held the highest market share in 2022, accounting for nearly two-fifths of the global logistics market revenue and is estimated to maintain its leadership status throughout the forecast period, due to various factor such as surge in import & export of goods and materials is anticipated to propel the logistics market in the roadways segment. However, the airways segment is projected to manifest the highest CAGR of 6.6% from 2023 to 2032, factors such as increase in importance in supporting reverse logistics, including repair & warranty work for electronics and other high-end consumer goods, thereby boosting the logistics market in the airways segment.
The manufacturing segment to maintain its leadership status throughout the forecast period
Based on end-user, the manufacturing segment held the highest market share in 2022, accounting for nearly one-third of the global logistics market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to the increase in demand for procuring raw materials and handing them over to manufacturers for production is a growth factor for the logistics market in the manufacturing industry. Moreover, the healthcare segment is projected to manifest the highest CAGR of 7.1% from 2023 to 2032, owing to the rising importance of fast-track assistance in the healthcare sector and growing number of initiatives to promote cold chain logistics is anticipated to boost the growth of the logistics market for healthcare anticipated to boost the growth of the logistics market for healthcare.
The 3PL segment to maintain its leadership status throughout the forecast period
Based on model, the 3PL segment held the highest market share in 2022, accounting for nearly one-third of the global logistics market revenue and is estimated to maintain its leadership status throughout the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 6.0% from 2023 to 2032, owing to the 3PL providers can tap into a network of service providers, ensuring efficient movement of goods across the supply chain. Their scalability, flexibility, and advanced technology solutions enable them to adapt to changing business demands, optimize logistics processes, and provide real-time visibility of shipments and inventory.
Asia-Pacific to maintain its dominance by 2032
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global logistics market revenue, owing to the increased adoption of outsourced logistics services in the region is driving the growth of the logistics market in Asia-Pacific. Moreover, high government support for development of logistics infrastructure in the region is also boosting the market growth. However, the Europe region is expected to witness the fastest CAGR of 6.2% from 2023 to 2032, owing to the growth in express and small parcels deliveries due to structural shift toward online retail is expected to offer lucrative growth opportunities for the logistics market in Europe.
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Leading Market Players: -
- A.P. MOLLER - MAERSK
- C.H. ROBINSON WORLDWIDE INC.
- DB SCHENKER
- DEUTSCHE POST AG
- DSV
- FEDEX CORPORATION
- GEODIS
- KUEHNE+NAGEL INC.
- NIPPON EXPRESS CO., LTD.
- UNITED PARCEL SERVICE OF AMERICA, INC.
The report provides a detailed analysis of these key players of the global logistics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Similar Reports We Have on Logistics Industry:
Third-party Logistics (3PL) Market Research Report 2023-2035
Fourth Party Logistics (4PL) Market Research Report 2023-2035
Fifth-party Logistics (5PL) Market Research Report 2023-2035
Rail Logistics Market Research Report 2023-2035
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