According to the latest report by IMARC Group, titled “North America Logistics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the North America logistics market size reached US$ 1,413.4 Billion in 2022. Logistics refers to the process of planning and executing the efficient movement of goods and services from origin to the point of consumption. It involves coordinating and managing various activities, such as transportation, inventory, security, packaging, and warehousing. Logistics is widely used for managing the movement of retail goods, consumer electronics, raw materials, medical supplies, crops, livestock, machinery, and military equipment. It is an essential process that enhances profit, provides competitive advantages, allows better risk management, and ensures businesses operate safely, smoothly, and efficiently. Logistics also aid in reducing costs, enhancing visibility, increasing customer satisfaction, optimizing the supply chain, and improving overall productivity.
North America Logistics Market Trends:
One of the key factors driving the North America logistics market is the significant growth in the e-commerce industry. Logistics is widely used in the e-commerce industry to manage inventory, warehousing, order fulfillment and return, transportation, and last-mile delivery, which ensures timely delivery, improved customer satisfaction, and maximized profitability. Furthermore, increasing initiatives by several regional governments toward reducing trade barriers, improving the supply chain data flow, and enhancing the efficiency and reliability of cross-border freight transportation and logistics are providing an impetus to the market growth. Additionally, the rapid incorporation of automation and robotics to reduce cost, enhance safety, and improve the efficiency of various processes, such as order picking, packaging, transportation, and inventory management, is positively influencing the market growth. Apart from this, the integration of blockchain technology to enhance supply chain transparency and traceability, reduce fraud, and increase trust between partners is favoring the market growth. Besides this, increasing demand for sustainable logistics that involves adopting strategies and practices aimed at reducing the environmental impact of logistics operations, such as electric vehicles, alternative fuels, efficient packaging, and green building construction, is creating a positive outlook for the market. Other factors, including rapid industrialization activities, changing trade patterns, rising investment in infrastructure development, and the increasing adoption of advanced technologies, such as the Internet of Things (IoT), drones, and artificial intelligence (AI), are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 1,636.2 Billion by 2028, exhibiting a CAGR of 2.4% during 2023-2028.
- On the basis of model type, the market has been divided into 2PL, 3PL, and 4PL.
- Based on the transportation mode, the market has been classified into roadways, seaways, railways, and airways.
- On the basis of 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.
- On a regional basis, the market has been categorized into the United States and Canada.
- The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
||Model Type, Transportation Mode, End-Use, Country
||United States, Canada
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