Logistics Market to Reach Valuation of USD 570.9 Billion by 2030 – Increasing E-Commerce Industry Along with Growth in Reverse Logistics Operations Drives the Market

In terms of revenue, the Global Logistics Market is expected to reach USD 570.9 Billion by 2030, growing at a CAGR (Compound Annual Growth Rate) of 11.8% from 2023 to 2030.

Logistics is generally understood as the process of organizing and transferring resources, such as tools, food, liquids, inventories, materials, and people, from one location to the storage of the desired area. It entails managing the flow of goods from one point of origin to the point of consumption to meet customer requests. Logistics management is concerned with the effective and efficient management of daily tasks related to producing the company's finished goods and services. Planning, implementing, and controlling the efficient, effective forward and reverse flow and storage of goods are all tasks performed by this sort of management, a subset of supply chain management. In terms of services, Logistics primarily includes third-party Logistics (3PL), fourth-party Logistics (4PL), incoming Logistics, outbound Logistics, reverse Logistics, green Logistics, to name a few.

The demand for home delivery services has been rising, which has prompted Logistics companies to enhance their operations to fulfill client expectations. This rise in the Logistics market has been ongoing. Further impacting demand on a global scale is the increased emphasis on efficiency and speed, which has prompted Logistics companies to make significant investments in cutting-edge technology and automation to establish real-time tracking, predictive analytics, and automated warehouses to streamline their operations. Additionally, as cross-border e-commerce expands, Logistics firms have new opportunities as more consumers buy goods from abroad. To meet this demand, Logistics firms are expanding their global operations, which in turn is boosting the market.

Key Highlights from the Report

· Based on Mode of Transport, the Roadways segment dominates the Logistics market with the maximum market share and will continue to dominate in the forecast period. The roadways market has grown due to an increase in the need for roadway trucks to move retail goods over long distances, particularly in domestic areas.

· Based on End Use, the Manufacturing segment dominates the Logistics market with the maximum market share. It will continue to dominate in the forecast period due to increased demand for industrial manufacturing services.

· In Terms of Region, Asia Pacific holds the significant market share within the Logistics market and will continue to dominate during the forecast period as a result of a greater consumer base.

Market Dynamics

The elements that drive market expansion include the expanding e-commerce sector combined with an increase in reverse Logistics operations and trade-related agreements. In addition, as the industry expands, the growth of tech-driven Logistics services and the rising popularity of IoT-enabled connected devices would also contribute. On the other hand, increased transportation costs, weak infrastructure, and a lack of producer control over logistical services hamper the market's expansion. Also, the development of last-mile delivery services, Logistics automation, and cost & lead time reduction due to the use of multi-modal systems are projected to support market expansion.

E-commerce is the term for items purchased and sold online. Shipments of goods to customers are handled by third-party Logistics service providers. Also, the Logistics services are used by the e-commerce sector to manage and monitor the supply chain of e-commerce businesses, allowing these businesses to concentrate on marketing and other company operations. As a result of the multiple advantages that Logistics offers the e-commerce sector, the use of Logistics services is expanding rapidly, which is boosting the market's expansion.

Globalization is primarily driven by the global economy's expansion and the market's dynamism. Many trade-related activities are increasing, attributed to globalization's development. Manufacturers and merchants are finding it increasingly challenging to monitor these operations effectively. For Logistics firms, this factor is anticipated to drive the market. In addition, expanding the global market is a vital driver of the industry's growth. For customers who are budget conscious and demand a greater selection of high-quality products with prompt delivery, Logistics services are becoming increasingly important. The expansion of the Logistics market is therefore fueled by the rise in trading activity brought on by globalization. For example, India and the U.K. declared in December 2020 that they intended to complete their free trade agreement (FTA) by 2021 in fields such as medicines, fintech, chemicals, military manufacturing, petroleum, and food items.

Asia Pacific is anticipated to lead the worldwide Logistics industry during the forecast period. The region's vast customer base has experienced a significant rise in consumer use of online shopping platforms. India, China, Japan, and Australia rank among the largest exporters of commodities and contribute significantly to global retail e-commerce sales. The primary driver of the regional market expansion is the area's promising potential for e-commerce expansion. Additionally, the growth of regional markets would be aided by a growing focus on transportation methods and ongoing improvements to Logistics infrastructure in emerging nations.

The Global Logistics Market is Segmented as follows

• Mode of Transport
  • Railways
  • Airways
  • Roadways
  • Waterways
• End Use
  • Healthcare
  • Manufacturing
  • Aerospace
  • Telecommunication
  • Government & Public Utilities
  • Banking & Financial Services
  • Retail
  • Media & Entertainment
  • Technology
  • Trade & Transportation
  • Other End Uses
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Logistics Market is

MOLLER – MAERSK (Denmark), H. Robinson Worldwide Inc. (U.S.), DB SCHENKER (Deutsche Bahn Group (DB Group)) (Germany), Deutsche Post AG (DHL Group) (Germany), DSV (DSV Panalpina) (Denmark), FEDEX (U.S.), GEODIS (France), Kuehne+Nagel International AG (Germany), Nippon Express (Japan), United Parcel Service Inc. (U.S.)

The Global Logistics Scope can be Tabulated as below