BANGALORE, India, Jan. 7, 2022
BANGALORE, India, Jan. 7, 2022 /PRNewswire/ -- Logistics Market by Mode of Transport (Railways, Airways, Roadways, and Waterways) and End Use (Healthcare, Manufacturing, Aerospace, Telecommunication, Government & Public Utilities, Banking & Financial Services, Retail, Media & Entertainment, Technology, Trade & Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2017–2027. It is published in Valuates Reports under the Transportation & Logistics Category.
The global logistics market was valued at USD 7,641.20 billion in 2017 and is projected to reach USD 12,975.64 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027.
Major Factors Driving The Growth Of The Logistics Market Are
Logistics market expansion is fueled by factors such as the rising e-commerce industry and the rise in reverse logistics activities. In addition, the growing acceptance of IoT-enabled linked devices and the rise of tech-driven logistics services are likely to propel the logistics market forward.
Another major driver for the logistics market is the proliferation of trade agreements among various governments. Furthermore, initiatives aimed at enhancing global trade activities have increased the demand for logistics to keep up with the growing demands of importers and exporters.
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TRENDS INFLUENCING THE GROWTH OF THE LOGISTICS MARKET
The growing e-commerce industry coupled with a rise in reverse logistics operations is expected to drive the growth of the logistics market. Logistics services are used by the e-commerce industry to handle and control e-commerce enterprises' supply chains, allowing them to focus on marketing and other company activities. As a result of the multiple benefits that logistics provides to the e-commerce industry, the adoption of logistics services is increasing at a rapid pace, fueling the expansion of the logistics market.
An increase in trade-related agreements between countries is expected to further fuel the growth of the logistics market. Logistics services are becoming increasingly important for price-conscious customers who demand a larger selection of high-quality products delivered on schedule. As a result, the expansion of the logistics market is fueled by an increase in trading activities.
The emergence of last-mile deliveries coupled with logistics automation is expected to drive the logistics market growth. The supply of effective last-mile deliveries is seeing a tremendous boom in the logistics business, thanks to the ever-increasing proliferation of e-commerce companies. Furthermore, receiving a shipment the same day it is delivered is becoming increasingly popular, resulting in the expansion of last-mile delivery services. As the pharmaceutical and food and beverage e-commerce businesses grow, the logistics industry is putting a larger emphasis on last-mile delivery solutions. In addition, logistics businesses' ongoing efforts to provide effective last-mile deliveries are another opportunity that is predicted to fuel the logistics market's growth in the near future.
Technology improvements such as automated material handling equipment, biometrics, GPS, and others help logistic organizations and enterprises work more efficiently, thereby further augmenting the logistics market.
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LOGISTICS MARKET SHARE ANALYSIS
The Asia-Pacific region is expected to be the most lucrative region. This is due to increased cross-border trade and export operations, the rapid rise in cross-border e-commerce transactions, and substantial expansion in industrial and manufacturing activity.
Based on type, the roadways segment is the most lucrative. This is due to low capital investment, high geographic penetration, and growing demand for door-to-door delivery.
Based on end-user, the manufacturing segment is expected to be the most lucrative. The increase in demand for purchasing, distributing, and handling raw materials and finished products is attributed to the segment's growth.
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Market By Region
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- The global express delivery market was valued at USD 262.86 billion in 2020, and is projected to reach USD 484.38 billion by 2030, registering a CAGR of 6.4% from 2021 to 2030.
- The global air freight market was valued at USD 270.2 billion in 2019, and is projected to reach USD 376.8 billion by 2027, registering a CAGR of 5.6%.
- The global Contract Logistics market size is projected to reach USD 242510 million by 2027, from USD 180100 million in 2020, at a CAGR of 3.9% during 2021-2027.
- The global FMCG logistics market was valued at USD 1,056.58 billion in 2019, and is projected to reach USD 1,400.80 billion by 2027, registering a CAGR of 4.6% from 2020 to 2027. By mode of transportation, the roadways segment was the highest revenue contributor in 2019, accounting for USD 431.66 billion, and is estimated to reach USD 518.08 billion by 2027, registering a CAGR of 3.30% during the forecast period.
- The global Food Logistics market size is projected to reach USD 134410 million by 2027, from USD 83170 million in 2020, at a CAGR of 6.6% during 2021-2027.
- The global Last Mile Delivery market size is projected to reach USD 68180 million by 2027, from USD 35230 million in 2020, at a Compound Annual Growth Rate (CAGR) of 9.9% during 2021-2027.
- The global Drone Logistics and Transportation market size is projected to reach USD 12180 million by 2027, from USD 5752.2 million in 2020, at a CAGR of 10.8% during 2021-2027.
- The global Same-day Delivery market size is projected to reach USD 123050 million by 2027, from USD 11620 million in 2020, at a CAGR of 38.5% during the forecast period 2021-2027.
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