Global Logistics Market to Grow at a CAGR of 6.3% During 2024-2032, Aided by the Flourishing E-Commerce Industry and Rapid Globalisation

The flourishing e-commerce industry is driving the demand for optimal logistics services. The rising online retail sales, significantly driven by the convenience and competitive pricing offered by digital marketplaces, are favouring the logistics market growth.

In addition, the hassle-free return and refund policies offered by e-commerce channels have sparked demand for reverse logistics processes and tracking capabilities. The introduction of instant grocery delivery through e-commerce mobile applications is further fuelling the market expansion.

Growing industrialisation and globalisation are boosting the demand for improved technologies for tracking and supporting services like international goods insurance. Several factors such as technological advancements, the expansion of international trade agreements, and the utilisation of technologies such as Bluetooth, driverless vehicles, GPS, and drone deliveries also aid the market growth.

The growing partnerships and innovations by governments are also significantly contributing to the market. For instance, in June 2023, Australia and Singapore announced a collaboration to create a green and digital shipping corridor by 2025, building on their previous Green Shipping Cooperation agreement. This initiative aims to lead the way in decarbonising the maritime sector while optimising trade routes.

Besides, rising mergers and acquisitions by key players are also expected to fuel the market demand in the coming years. In Market 2023, Logistics Limited, a leading provider of multimodal logistics solutions, received board approval to acquire a 38.87% stake from its partners for an enterprise value of Rs 373 crore. This acquisition is expected to result in Allcargo Logistics owning 100% of the contract logistics business, aligning with its strategic focus on core operations.

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Market Breakup by Model Type, Transportation Mode, End User, and Region:

• The market is segmented based on model type into 1 PL, 2 PL, and 3 PL, among others.

• Based on transportation mode, the market can be divided into roadways, seaways, railways, and airways.

• By end user, the market can be classified into manufacturing, consumer goods and retail, food and beverages, IT hardware and telecom, healthcare, chemicals, construction, automotive, and oil and gas, among others.

• Region-wise, the global market for logistics can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global logistics market expansion is being driven by the robust growth of the e-commerce industry, supported by the rising convenience and competitive pricing offered by market players.

• The introduction of favourable government initiatives towards an open economy, supporting industrialisation and globalisation, is aiding the market for logistics.

• The surge in technological advancements and the development of innovations like driverless vehicles, GPS tracking systems, and drone deliveries, among others, are positively influencing the market expansion.

Key Offerings of the Report:

• The EMR report gives an overview of the global logistics market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the model types, transportation modes, end users, and major regions of logistics.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global logistics market are J.B. Hunt Transport Services, Inc., CEVA Logistics AG, XPO, Inc., Global Leader, Inc., Kenco Group Inc., Deutsche Post AG, Kuehne + Nagel International AG, FedEx Corporation, United Parcel Service, Inc., A.P. Møller – Mærsk A/S, Expeditors International of Washington Inc., GXO Logistics, Inc., and DSV A/S, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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