USD 9.82 trillion
Report ID:
SQMIG20R2036 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
67 |
Figures:
75
Global Logistics Market size was valued at USD 9.82 trillion in 2022 and is poised to grow from USD 10.36 trillion in 2023 to USD 15.93 trillion by 2031, growing at a CAGR of 5.52% in the forecast period (2024-2031).
In recent years, the global Logistics market has been changing consumer preferences and demands as it is characterized by dynamic trends and crucial factors shaping its landscape. E-commerce expansion is a significant driver, fueling the demand for efficient supply chain and logistics solutions. Technological advancements, including the integration of IoT and AI, enhance operational efficiency and visibility.
Amidst globalization, cross-border trade intensifies, emphasizing the importance of robust logistics networks. Sustainability emerges as a key consideration, with the industry focusing on eco-friendly practices and reducing carbon footprints. Regional disparities, regulatory changes, and the ongoing digital transformation further contribute to the evolving nature of the global logistics sector, requiring adaptability and innovation for sustained success.
Global Market Size
USD 9.82 trillion
Largest Segment
Third Party Logistics (3PL)
Fastest Growth
Fourth Party Logistics (4PL)
Growth Rate
5.52% CAGR
To get more reports on the above market click here to Buy The Report
The global logistics market is segmented into four major segments i.e. by mode of transport, logistics model, service type, and region. Based on type, it is divided into roadways, railways, airways, maritime, and others. Based on the logistics model, it is bifurcated as first party logistics (1PL), second party logistics (2PL), third Party Logistics (3PL), fourth party logistics (4PL), and others. Based on service type it is segregated into, freight transportation, warehousing and distribution, customs services, value-added services, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Analysis by Logistics Model
Third Party Logistics (3PL) have typically held a substantial market share as the outsourcing of logistics services to specialized third-party providers allows businesses to focus on core competencies. Moreover, 3PL providers offer a comprehensive range of services, including transportation, warehousing, and distribution, catering to the diverse needs of companies across various industries.
As businesses increasingly seek integrated, end-to-end supply chain solutions, Fourth Party Logistics (4PL) have gained popularity. Because of their prioritization of health and wellness, they are increasingly turning to snacks that offer nutritional benefits. The demand for comprehensive, technologically advanced logistics solutions that optimize the entire supply chain process is driving the rise of 4PL as a strategic logistics model.
Analysis by Service Type
Freight Transportation has long dominated the global logistics market due to the indispensable role it plays in the logistics ecosystem. The movement of goods across various modes of transportation, including road, rail, air, and sea, is fundamental to supply chain operations globally.
Value-added services are anticipated to be the fastest-growing segment. As companies increasingly seek differentiation in their logistics strategies, the demand for services beyond traditional transportation and warehousing, such as packaging, labeling, and customization, is on the rise. Value-added services enhance the overall efficiency and customer satisfaction within the supply chain.
To get detailed analysis on other segments, Request For Free Sample Report
North America has historically dominated the logistics market due to robust economic growth. This dominance is attributed to the region's extensive manufacturing activities, and the flourishing e-commerce sector. Countries like China, India, and Southeast Asian nations are pivotal players in global trade, contributing to the region's supremacy in logistics.
Asia Pacific is anticipated to be the fastest-growing region in the logistics market. The continent is experiencing economic expansion, urbanization, and an increasing focus on infrastructure development. As these factors drive trade and logistics demand, Africa emerges as a key growth frontier with untapped potential in the logistics sector.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Drivers
Increasing E-commerce Activities Worldwide
Restraints
High Complexity and Uncertainty Surrounding Global Trade Regulations
Request Free Customization of this report to help us to meet your business objectives.
The competitive environment of the Logistics market is dynamic and marked by intense rivalry and a diverse array of players catering to the intricate needs of supply chain management. However, the industry is witnessing increased competition from tech-driven startups focusing on innovative solutions like digital freight platforms and real-time tracking technologies. Strategic partnerships and acquisitions are commonplace as companies seek to broaden their service portfolios and geographical reach.
Top Player’s Company Profiles
Recent Developments
Rising integration of technology and Sustainability
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global logistics market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The market is driven by expanding e-commerce activities and technological advancements. These drivers enhance supply chain visibility and operational efficiency. However, regulatory complexities and geopolitical uncertainties act as restraints, challenging seamless logistics operations. The market witnesses a notable trend toward sustainability, emphasizing eco-friendly practices.
Regionally, Asia-Pacific dominates due to robust economic growth, while Africa emerges as a fast-growing market. Product type analysis spans freight transportation, warehousing, and value-added services. Overall, the logistics sector navigates dynamic trends, requiring adaptability to sustain growth in a rapidly evolving global business landscape.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 9.82 trillion |
Market size value in 2031 | USD 15.93 trillion |
Growth Rate | 5.52% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Trillion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Logistics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Logistics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Logistics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Logistics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONWant to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Product ID: SQMIG20R2036