The global warehousing and storage market is currently exhibiting healthy growth. Warehouses and storages are required by every business owner for an efficient and smooth set up of the inventory. According to the latest report by IMARC Group, titled “Warehousing and Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global warehousing and storage market reached a value of US$ 397.3 Billion in 2018. A warehouse may be defined as a place that is used for the storage or accumulation of finished products, raw materials, semi-finished goods, goods that are imported or exported, etc. There is a need for storing the goods in order to make them available to the end users as and when required. Certain amount of goods are stored at every stage during the value chain of any product. Appropriate arrangements to retail the goods in the right condition are vital for success in marketing. Storage ensures an organization to carry on production in anticipation of demand in the future. Warehouses enable the organization to continue its production throughout the year and to sell their goods, whenever there is sufficient demand. In general, warehouses can be divided into three categories which include general warehousing and storage, farm product warehousing and storage, and refrigerated warehousing and storage.
Looking forward, we expect the demand for warehousing and storage to remain strong in the coming years. The key application sectors of warehousing such as manufacturing, retail, healthcare, construction, automotive, technology, etc. are expected to exhibit strong growth in the coming years. Moreover, we also expect strong demand from the ecommerce sector. Web based shopping has gained popularity and has become a go-to-option for almost all types of customers. The advent of online shopping has created a huge demand of warehousing space in both developed and emerging economies. Furthermore, catalyzed by the rising popularity of frozen foods, the demand of refrigerated warehousing and storage has also been increasing. This can be attributed to the fact that frozen foods are simple to cook, healthy to eat, and easily available in the market. Additionally, recent advancement in the IT and transportation sector are also creating a positive impact on the warehousing and storage market. Increasing use of wearables, sensors, radio frequency identification tags, etc. are also making the storage and transportation of goods more efficient. The global warehousing and storage market is projected to reach a value of US$ 533.4 Billion by 2024, expanding at a CAGR of 4.9% during 2019-2024.
This report provides a deep insight into the global warehousing and storage market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the warehousing and storage market in any manner.
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