Allied Market Research has released a report titled “Logistics Market by Mode of Transport (Railways, Airways, Roadways, and Waterways), By End Use (Healthcare, Manufacturing, Aerospace, Telecommunication, Government & Public Utilities, Banking & Financial Services, Retail, Media & Entertainment, Technology, Trade & Transportation, and Others) and By Model (1PL, 2PL, 3PL, and 4PL): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global logistics market generated $9,833.8 billion in 2022 and is projected to reach $16,794.7 billion by 2032, experiencing a CAGR of 5.6% from 2023 to 2032.
The logistics industry encompasses the planning, implementation, and coordination of resources, as well as managing the flow of goods from origin to consumption. Managed resources can include tangible items such as liquids, equipment, materials, and food products, as well as intangible goods like information. Effective logistics processes facilitate the efficient transportation and storage of goods and the planning of related services. Key elements of logistics management include production, packaging, inventory, warehousing, security, material handling, information integration, inbound and outbound transportation, and the supply and demand planning of third-party providers.
Several factors are driving market growth, including the expanding e-commerce industry, an increase in reverse logistics operations, and the rise in trade-related agreements. Additionally, the growth of tech-driven logistics services and the widespread adoption of IoT-enabled connected devices are expected to propel market expansion. However, challenges such as manufacturers’ lack of control over logistics services, poor infrastructure, and high logistics costs may impede growth. Nevertheless, the emergence of last-mile deliveries, logistics automation, and the adoption of multi-modal systems to reduce costs and lead times are anticipated to further support market development.
Read the full report below
https://www.alliedmarketresearch.com/logistics-market
