Dublin, March 22, 2024 (GLOBE NEWSWIRE) -- The "Logistics Market Report by Model Type, Transportation Mode, Airways, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global logistics market size reached US$ 5.4 Trillion in 2023. The market is projected to reach US$ 7.9 Trillion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2023-2032. The market is experiencing robust growth, driven by rapid expansion of e-commerce sector, rising technological advancements, such as the Internet of Things (IoT), ongoing globalization of trade, increasing focus on environmental sustainability, and growing consumer demand for faster delivery systems. 
Logistics Market Analysis
Market Growth and Size: The market is witnessing stable growth, driven by the expansion of e-commerce, technological advancements, and increasing globalization. Moreover, the widespread diversification of services, such as traditional transportation, warehousing, and advanced supply chain management solutions is boosting the market growth.
Major Market Drivers: Key drivers influencing the market growth include the expansion of the e-commerce sector and rapid technological advancements, including automation, and artificial intelligence (AI), to streamline logistics processes.
Key Market Trends: The key market trends involve the increasing focus on sustainability, as companies adopt eco-friendly practices like using electric vehicles (EVs) and optimizing delivery routes. Additionally, the integration of blockchain technology for enhanced transparency and security in supply chain management, is bolstering the market growth.
Geographical Trends: Asia-Pacific leads the market due to increasing industrialization, urbanization, and an expanding e-commerce sector. Other regions are also showing significant growth, fueled by the expanding manufacturing base, rapid technological advancements, and increasing digital penetration.
Competitive Landscape: The market is characterized by the presence of several key players focusing on expanding geographical reach and service offerings through strategic partnerships and acquisitions. Moreover, companies are also investing in research and development (R&D) to innovate in areas like autonomous vehicle logistics, drone delivery, and smart warehousing.
Challenges and Opportunities: The market faces various challenges, such as adapting to rapidly changing consumer demands, managing the complexities of global supply chains, and addressing environmental concerns. However, the increasing demand for last-mile delivery solutions, and the potential for technological innovations to create more efficient and sustainable logistics systems, is creating new opportunities for the market growth.
Competitive Analysis
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- J.B. Hunt Transport Services
- C.H. Robinson Worldwide, Inc.
- Ceva Holdings LLC
- FedEx Corp.
- United Parcel Service, Inc.
- Expeditors International of Washington Inc.
- XPO Logistics Inc.
- Kenco Group
- Deutsche Post DHL Group
- Americold Logistics, LLC
- DSV Air & Sea Inc.
(Please note that this is only a partial list of the key players, and the complete list is provided in the report)
Industry News:
- In March 2023, DSV signed a contract to purchase two American-based shipping and logistics firms, Global Diversity Logistics and Sand M Moving Systems West to strengthen its position cross-border.
- In May 2023, FedEx Express launched a one-step logistics solution for hazardous and dangerous commodities in Cebu to minimize the risk of contamination through chemicals.
- In October 2022, DHL announced GoGreen Plus service to help reduce carbon dioxide emissions from transportation through carbon offsetting.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 148 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $5.4 Trillion |
| Forecasted Market Value (USD) by 2032 | $7.9 Trillion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/390bzy
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