Logistics Market Updates

Global Logistics Market size was valued at USD 70.94 Billion in 2023 and is poised to grow from USD 78.74 Billion in 2024 to USD 187.45 Billion by 2032, growing at a CAGR of 11% in the forecast period (2025-2032).

The global logistics sector is highly competitive, with players like DHL, FedEx, Maersk, and UPS putting money into digitalization and sustainability to remain competitive. Governments worldwide are supporting such activity through grants and regulatory incentives; for instance, the EU's Digital Europe Programme spends over USD 9 billion on AI and cybersecurity in logistics. Companies are putting money into automation, blockchain, and IoT to drive transparency and operational efficiency, complementing government-imposed data security standards like the U.S. National Institute of Standards and Technology (NIST) cybersecurity framework. Public-private partnerships are also gaining traction, with governments supporting infrastructure modernization to enable increased capacity. Such strategic initiatives enable companies to realize stricter environmental regulations and shifting customer expectations, driving innovation and competitive differentiation globally.'Amazon.com, Inc.', 'United Parcel Service, Inc. (UPS)', 'FedEx Corporation', 'Deutsche Post AG (DHL Group)', 'DSV A/S', 'Kuehne + Nagel International AG', 'A.P. Moller – Maersk A/S', 'C.H. Robinson Worldwide, Inc.', 'J.B. Hunt Transport Services, Inc.', 'XPO Logistics, Inc.', 'GEODIS', 'Nippon Express', 'CEVA Logistics (CMA CGM Group)', 'Toll Group', 'Expeditors International'

The increase in global trade volume, driven by efforts such as the WTO's 4.7% increase in trade in 2023, drives logistics demand across the globe. Governments spend vast amounts of capital on customs modernization—such as the EU's Union Customs Code and the U.S. Automated Commercial Environment (ACE)—to speed up cross-border flow. Industry giants such as DHL and Maersk exploit these technologies to streamline global supply chains. Trade agreements such as USMCA also increase global connectivity, while the IMO's green shipping regulations compel businesses to resort to green logistics solutions, boosting market growth.

Expansion of Smart Warehousing and Automation Technologies: Governments are heavily investing in intelligent warehousing to improve efficiency. South Korea's Ministry of Land invested USD 200 million in 2024 in building AI-automated warehouses. This allows orders to be filled at a quicker rate and at lower labor costs, as part of efforts around the globe to upgrade supply chains and make them competitive.

What makes North America the top market for logistics in 2024?