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Global Logistics Market to Reach US$ 6.8 Trillion by 2028, Propelled by Burgeoning E-Commerce Sector

Published on Mar 09, 2021

According to the latest report by IMARC Group, titled “Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global logistics market size reached US$ 5.2 Trillion in 2022. Logistics refers to the process of planning, coordinating, managing, and organizing resources from the point of origin to the point of consumption. It also includes production, packaging, warehousing, material handling, security, integration of information, supply/demand planning of third-party providers, and inbound and outbound transportation. It assists in the efficient transportation and storage of goods, services, and information to meet the requirements of the end users cost-efficiently.

Global Logistics Market Trends:

The growing popularity of e-commerce platforms on account of the rising reliance on smartphones and increasing penetration of the internet currently represents the key factors driving the logistics market. As logistics plays a pivotal role in the smooth functioning of online deliveries, the demand for logistics is escalating around the world. The easy return and refund policies have also fueled the need for reverse logistics processes with tracking facilities. Furthermore, the increasing environmental concerns and rising focus on sustainable development have catalyzed the demand for green logistics, providing sustainable transport solutions. Other factors, including the constant technological developments, growing international trade agreements and the integration of global positioning systems (GPS), biometrics, driverless vehicles, and drone delivery with logistics systems, are anticipated to impel the growth of the market. Looking forward, the market value is projected to reach US$ 6.8 Trillion by 2028, expanding at a CAGR of 4.5% during 2023-2028.

Market Summary:

  • Based on the model type, the market has been classified into 2 PL, 3PL and 4 PL.
  • On the basis of the transportation mode, the market has been categorized into roadways, seaways, railways and airways.
  • Based on the end use, the market has been divided into manufacturing, consumer goods, retail, food and beverages, IT hardware, healthcare, chemicals, construction, automotive, telecom, oil and gas, and others. Amongst these, the manufacturing sector holds the majority of the total market share.
  • Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. At present, Asia Pacific enjoys the leading position in the market.
  • The competitive landscape of the market has been examined, with some of the key players being 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 Inc., Deutsche Post DHL Group, Americold Logistics, LLC and DSV Air & Sea Inc.

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