Logistics & Supply Chain Market Size

Growing expansion of the e-commerce industry is driving the market growth

Market CAGR for the logistics & supply chain industry is driven by the rising expansion of the e-commerce industry. E-commerce is the term for the online purchasing and selling of commodities. Third-party service providers handle the shipment of goods to clients. To free up time for marketing and other business-related tasks, e-commerce companies also use logistics services to manage and supervise their supply chains. The e-commerce industry benefits greatly from logistics, and as a result, these services are growing dramatically and driving market expansion.

Additionally, numerous advantages come with logistics, such as enhanced customer happiness, reduced operating expenses, and better delivery performance. Because of this, many producers and merchants worldwide view it as essential to their operations. It also helps an organization become more competitive in cost, quality, flexibility, and delivery. With many multinational firms' outstanding logistics outcomes, globalization is a new element propelling industry expansion. Moreover, logistics allows companies to divide parts of a production process across several nations. It lowers manufacturing costs overall much more.

Within the supply chain, logistics refers to moving goods, services, and associated data from the point of origin to the point of consumption. The logistics sector is currently going through a major automation and digitization transition. Logistics organizations are progressively implementing technologies like robotics, machine learning, artificial intelligence (AI), and the Internet of Things (IoT) to improve efficiency, cut costs, and streamline operations. Examples include predictive analysis, driverless cars, warehouse automation, and other technologies.

As a result, it is anticipated that demand for the logistics & supply chain industry will increase throughout the projection period due to the rising e-commerce industry. Thus, driving the Logistics & Supply Chain Market revenue.

FedEx Express launched an all-in-one solution for dangerous commodities in Cebu May 2023. Hazardous materials are defined as chemicals or products that can pose a risk to human health and safety as well as the environment if not handled properly.

May 2023, Cargo-Partner announced its sale to Nippon Express Co., Ltd. for up to $150 million. Nippon Express will be able to provide more logistic services between Asia and Europe through Cargo-Partner.

The Global Logistics and Supply Chain Market Industry is experiencing a transformative phase driven by rapid technological advancements. Innovations such as artificial intelligence, blockchain, and the Internet of Things are enhancing operational efficiency and transparency. For instance, AI-powered analytics are optimizing inventory management, while blockchain technology is improving traceability in supply chains. These technologies are expected to contribute to the market's growth, with projections indicating a market value of 9.66 USD Billion in 2024. As companies increasingly adopt these technologies, the Global Logistics and Supply Chain Market Industry is likely to witness a robust expansion.

Leading market players are investing heavily in research and development to expand their product lines, which will help the Logistics & Supply Chain Market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Logistics & Supply Chain Industry industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Logistics & Supply Chain Industry industry to benefit clients and increase the market sector. In recent years, the Logistics & Supply Chain Industry industry has offered some of the most significant advantages to consumers. Major players in the Logistics & Supply Chain Market, including DB Schenker, FedEx Corporation, Nippon Express Co.

Ltd., AP Moller Maersk, Deutsche Post AG, Geodis, United Parcel Service of America Inc., CH Robinson Worldwide Inc., JB Hunt Transport Services Inc., BDP International, and others, are attempting to increase market demand by investing in research and development operations.

DHL Group is the top logistics company. The group facilitates international trade by bringing people and markets together. It wants to be the go-to option for clients, staff, and investors. To do this, DHL Group is intensifying the digital transformation across all business divisions while concentrating on expanding its lucrative core logistics activities. Through corporate responsibilities, environmental initiatives, and sustainable business practices, the group positively impacts the globe. DHL Group wants to accomplish net-zero emissions logistics by 2050.

Two prominent brands belong to the group: DHL provides many parcels and international express services, freight transportation, supply chain management services, and e-commerce logistics solutions. In October 2022, DHL Freight will launch the GoGreen Plus service to lower CO2 emissions associated with road transport. DHL Freight is accomplished by investing in green road transport technologies and fuels, or carbon in setting, which is the process of reducing emissions of carbon dioxide and other greenhouse gases.

FedEx Corporation, originally known as Federal Express Corporation and then as FDX Corporation, is a worldwide holding company based in Memphis, Tennessee, specializing in business services, e-commerce, and transportation. The term "FedEx" is a syllabic contraction of Federal Express, the name of the company's initial aviation branch used from 1973 to 2000. One of the first significant shipping businesses to provide overnight delivery as a flagship service was FedEx Express, the company's most well-known air delivery service.

In August 2022, FedEx Office, a world-class supplier of cutting-edge printing, packing, and shipping services and a subsidiary of FedEx Corp., announced in partnership with Ford Pro that it is experimenting with ten Ford E-Transit vans throughout its FedEx SameDay City network. This move is part of FedEx's plan to convert all its pickup and delivery fleet to zero tailpipe emission vehicles by 2040, aligning with the company's overall fleet electrification goal.