Anticipated findings project that the worldwide logistics sector will achieve a remarkable valuation of over $16.79 trillion by the year 2032.
A recent study conducted by Allied Market Research reveals that the global logistics landscape achieved an impressive revenue of over $9.83 trillion in 2022, which sets the stage for a compounded annual growth rate (CAGR) of 5.6% spanning the years from 2023 to 2032.
The propulsion of the global logistics arena will be propelled by the expansive reach of the e-commerce domain, the steady amplification of reverse logistics undertakings, and an upswing in trade-centric accords. Additional driving forces poised to stimulate the sector’s progression encompass the rise of technology-fueled logistics services, heightened integration of Internet of Things (IoT) enabled interconnected devices, the advent of final-mile distributions, the automation of logistics procedures, and the integration of multi-modal frameworks aimed at curtailing expenses and trimming lead times.
Nonetheless, there are factors that might potentially impede the market’s growth trajectory, including limited control over manufacturers availing logistics services, inadequate infrastructure, and escalated operational costs.
Analyzing the logistics realm across 17 nations, the research also delved into a segmented assessment of each country’s logistics sphere for the envisaged timeframe spanning 2023 to 2032. A comprehensive survey encompassing over 200 logistics experts was conducted between April and June 2023 to underpin the study’s findings.
