Global Logistics Market Report 2022-2027
According to Expert Market Research’s latest report, ‘Global Logistics Market Report and Forecast 2022-2027’, the global logistics market attained a value of almost USD 9,525.1 billion in 2021. Aided by advancements in computing technologies, the market is projected to further grow at a CAGR of 5.7% between 2022 and 2027 to reach a value of about USD 13,326.3 billion by 2027.
Logistics is a significant part of supply chain management and refers to a robust network of roadways, railways, airways, and seaways engaged in the storage, management, transportation, and delivery of products from the point of origin to the point of termination. The most common types of logistics models include 1PL, 2PL, and 3PL logistic services and depending on the level, these models provide logistics services such as consultation, transportation, packaging, legal services, warehousing, and management, among others. Logistics is gaining immense popularity owing to its worldwide applications allowing businesses to mark their presence in the global market. Such factors are propelling the growth of the market.
The global market for logistics is being augmented by the expansion of cargo monitoring technologies with the inclusion of GPS trackers, RFID sensors, and Bluetooth technologies. The growth can also be attributed to advancements in computing technologies, such as IoT, AI, ML, and Big Data among others. These tracking technologies are deployed in transportation and warehouses and allow the owners and receivers of products to track their package in real time using smartphone applications. This enhanced transparency provided by logistics services is accelerating the growth of the market. Furthermore, the deployment of Bluetooth technology to track and monitor cargo, along with the development of self-service kiosks, at warehouses to reduce manual paperwork and promote electric data interchange technology is anticipated to provide impetus to the market in the coming years. The market is further expected to benefit from investments into the acquisition of advanced vehicular technologies like trucks and trains.
The market report by Expert Market Research analyses the market based on segmentations such as model type, transportation mode, end use and major region.
Market Division by Model Type
• 1 PL
• 2 PL
• 3 PL
Market Segmentation by Transportation Mode
Market Classification by End Use
• Consumer Goods and Retail
• Food and Beverages
• IT Hardware and Telecom
• Oil and Gas
Market Breakup by Region
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the key players in the industry. Some of the major players in the market explored in the Expert Market Research report are:
• J.B. Hunt Transport, Inc.
• C.H. Robinson Worldwide, Inc.
• CEVA Logistics
• XPO Logistics, Inc.
• Deutsche Post AG
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.