Transportation Segment is Expected to Dominate the Global Freight and Logistics Market
The
main reason which is been acting as the driving force which helps in improving
the freight and logistics market size is the increase in global trade.
According
to TechSci Research report, “Global Freight and
Logistics Market - Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”.
Global Freight and Logistics is anticipated to project robust growth in the
forecast period with a CAGR of 5.87%
through 2028. Driven by the e-commerce
and manufacturing sectors, warehousing and logistics stock will likely double
by 2030 to cross 700 million square feet. Leasing activity in the segment grew
by 40% QoQ in Q3 2022 to amount to 9.2 million square feet. The e-commerce boom
also fueled parcel volumes by 21% YoY in 2021 in 13 major economies. It is
expected to record a CAGR of 8.5% through 2022-2027. The United States
generated the highest revenue, while China generated 108 billion parcels in
2021.
Logistics
hubs, like Bahrain's Global Sea-to-Air Logistics Hub, launched in 2021, could
provide cost-effective and faster freight transportation. In order to upgrade
and modernize warehousing, 90% of Asia-Pacific warehouse operators are
investing in next-gen automation tech, which is anticipated to boost the market
globally in the next five years. In March 2022, the Asia-Pacific region led in
terms of the number of airport infrastructure projects being constructed, with
a total of 230 projects encompassing various components like runways and
terminals. The combined value of these projects amounted to USD 227.5 billion.
Following closely behind, Europe had the second-highest number of airport
infrastructure projects under construction, with 178 ongoing projects valued at
USD 109 billion. However, when considering the overall expenditure on airport
construction worldwide, North America slightly surpassed the other regions,
with a total investment of USD 117.5 billion.
Browse
over XX market data Figures spread through XX Pages and an in-depth TOC on " Global Freight
and Logistics Market.”
In
a competitive and growing market, the last two years, 2020-22, have taught us
that we must be both flexible and agile. In 2021, unprecedented growth in
online retail was expected, particularly in direct-to-consumer services. The
provision of omnichannel services, in which customers enjoy a unified shopping
experience regardless of channel, is a major focus. This could be done
in-store, online, on mobile, or through social media. Customers now expect a
more seamless experience, lower prices, faster shipping, and a greater emphasis
on sustainability. One of the most difficult challenges has been the
extraordinary demand in the grocery and apparel segments, where one-day
deliveries or less are becoming the norm. There was a global shortage of
transport capacity and a limited supply of delivery drivers in 2021.
Quick
commerce is being adopted by industries such as grocery, pharmaceuticals, and
e-commerce. Companies and brands are replacing traditional business models and
distribution channels with digital platforms to improve their delivery services
by leveraging available technological advancements. This market is typically
distinguished by delivery times of less than 20 minutes. The order size, value,
and weight are typically small(er) and easily transported via two-wheelers,
drones, or small vehicles. The 3PL, on the other hand, has already grown to
become an important stakeholder in the supply chain network. With the growing
demand for resource-backed fulfillment services, such as improved delivery
management software, acute logistics optimization, and increased use of smaller
warehouses in urban areas, reliance on 3PLs will only increase.
With
delivery volumes increasing all over the world, particularly due to the rapid
growth of eCommerce, supply firms are looking for innovative, cost-effective,
and efficient approaches to last-mile delivery. This has resulted in
investments and trials of cutting-edge technology such as driverless cars,
delivery bots, and drones. Aurora (self-driving technology) from Amazon is a
prime example.
Key
market players in the Global Freight and Logistics Market are following:-
- Geodis
- DHL International GmbH
- db Schenker
- a.p. moller - maersk, Kuehne+Nagel
Inc.
- XPO
Logistics Inc.
- C.H.
Robinson Worldwide, Inc.
- FedEx Corporation
- United
Parcel Service of America, Inc.
- DSV
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“.Logistics
is the core area of the third party logistics (3PL) firms and their proficiency
in this areas is always superior to that of the core companies. 3PL firms have
the expertise to keep IT systems updated and deliver the logistic services more
time & cost effectively along with this they own the ability to meet the
technical requirements. Moreover, 3PL firms also help to reduce inventory cost
and can strategize to reduce a company’s overall shipping & delivery costs
as well. The core companies may not have that time or expertise to keep logistic
services and systems updated. The company often face challenges meeting timely
delivery of products during high business growth. Outsourcing logistic function
from a third party is helpful for core companies as these firms manage and
maintain warehouse, transportation, and other operations with more efficiently
with expertise. ” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management consulting firm.
Freight and Logistics Market – Global Service Size,
Share, Trends, Opportunity, and Forecast Segmented By End User Industry
(Agriculture, Fishing and Forestry, Construction, Manufacturing, Oil and Gas,
Mining and Quarrying, Wholesale and Retail Trade, Others), By Shipping Type
(Airways, Railways, Roadways and Waterways), By Service (Inventory management,
Packaging, Warehousing, Transportation, Distribution, Custom clearance and
Others), By Region, By Competition, 2018-2028 has evaluated the future growth
potential of Global Freight and Logistics Market and provides statistics and
information on market structure, size, share, and future growth. The report is
intended to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities present in the Global Freight and Logistics Market.
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