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Logistics & Supply Chain Market Trends

ID: MRFR//9488-HCR | 128 Pages | Author: Garvit Vyas| July 2024

Global Logistics & Supply Chain Market Overview

Logistics & Supply Chain Market Size was valued at USD 8.6 Billion in 2022. The Logistics & Supply Chain Industry is projected to grow from USD 9.1 Billion in 2023 to USD 14.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.20% during the forecast period (2023 - 2032). Increased e-commerce industry, a rise in trade-related agreements, and growing digitization and automation are the key market drivers enhancing market growth.Logistics & Supply Chain Market OverviewSource: Secondary Research, Primary Research, MRFR Database and Analyst Review

Logistics & Supply Chain Market Trends

  • 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.

Logistics & Supply Chain Market Segment Insights

Logistics & Supply Chain Industry Transportation Mode Insights

The Logistics & Supply Chain Market segmentation, based on transportation mode, includes railways, roadways, airways, and waterways. The roadways segment dominated the market, accounting for the maximum market revenue. Retail enterprises need vehicles and goods with huge carrying capabilities when they choose road transportation. Additionally, the highway mode of transportation growth depends heavily on both road connectivity in developing countries and excellent road connectivity throughout all established countries.

Logistics & Supply Chain Industry Application Insights

The logistics & supply chain Market segmentation, based on application, includes transportation, warehousing, sourcing & procurement, and others. The warehousing segment generates the most income because it can reduce distribution and warehousing costs.

Figure 1: Logistics & Supply Chain Market, by Application, 2022 & 2032 (USD Billion)Logistics & Supply Chain Market, by Application, 2022 & 2032Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Logistics & Supply Chain Industry End User Insights

The Logistics & Supply Chain Market segmentation, based on end users, includes industry & manufacturing, retail, healthcare, aerospace, BFSI, government & public utilities, media & entertainment, food & beverages, and others. The industrial & manufacturing categories generated the most income due to their efficiency in reducing costs and raising customer satisfaction. The increased demand for industrial & manufacturing facilities is the reason for the segment's growth.

Logistics & Supply Chain Industry Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American Logistics and Supply Chain Market will dominate this market, owing to a well-developed infrastructure in terms of rail and road connectivity. In addition, the greatly combined supply chain that connects producers and consumers via several modes of transportation, such as air and express delivery services, will boost market growth in this region.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: LOGISTICS & SUPPLY CHAIN Market SHARE BY REGION 2022 (USD Billion) LOGISTICS & SUPPLY CHAIN Market SHARE BY REGION 2022Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Logistics and Supply Chain Market accounts for the second-largest market share due to the expansion of the e-commerce trends. Further, the German Logistics & Supply Chain Market held the largest market share, and the UK Logistics and Supply Chain Market was the fastest-growing market in the European region.

The Asia-Pacific Logistics and Supply Chain Market is expected to grow at the fastest CAGR from 2023 to 2032 due to rising trans-regional trade activities and technological advancement. Moreover, China's Logistics & Supply Chain Market held the largest market share, and the Indian Logistics & Supply Chain Market was the fastest-growing market in the Asia-Pacific region.

US-based shipping and logistics providers Global Diversity Logistics and Sand M Moving Systems West will be acquired by DSV under an agreement signed in March 2023. These purchases are intended to boost the company's cross-border abilities in Latin America; at the same time, they match its new Phoenix-Mesa Gateway Airport location while further solidifying it within the semiconductor sector.

Logistics & Supply Chain Industry Key Market Players & Competitive Insights

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.

Key Companies in the Logistics & Supply Chain Market include

  • DB Schenker

  • FedEx Corporation

  • Nippon Express Co. Ltd.

  • AP Moller Maersk

  • Deutsche

  • Geodis

  • United Parcel Service of America Inc.

  • CH Robinson Worldwide Inc.

  • JB Hunt Transport Services Inc.

  • BDP International

Logistics & Supply Chain Industry Industry Developments

March 2022: The largest express shipping firm in the world, FedEx Express, a division of FedEx Corp., is collaborating with Elory Air, based in the San Francisco Bay Area, on the development of the first end-to-end autonomous vertical take-off and landing (VTOL) aerial cargo system.

October 2022: DHL has compiled 40 trends that will influence how companies, society, and technologies develop for the logistics community over the next ten years in the sixth edition of the DHL Logistics Trend Radar. Decarburization, robotics, big data, supply chain diversity, and alternate energy sources will have the most significant effects on logistics transformation.

September 2023: Walmart invests $250 million in DroneUp for drone delivery. This partnership aims to leverage drones for faster and more accessible last-mile deliveries.

October 2023: Microsoft and Maersk launch a cloud-based logistics platform. This platform aims to streamline data exchange and visibility across the supply chain.

November 2023: FedEx launches SenseAware, a connected sensor platform for real-time cargo tracking. This provides improved visibility and control over shipments

Logistics & Supply Chain Market Segmentation

Logistics & Supply Chain Industry Transportation Mode Outlook

  • Railways

  • Roadways

  • Airways

  • Waterways

Logistics & Supply Chain Industry Application Outlook

  • Transportation

  • Warehousing

  • Sourcing & Procurement

  • Others

Logistics & Supply Chain Industry End User Outlook

  • Industry & Manufacturing

  • Retail

  • Healthcare

  • Aerospace

  • BFSI

  • Government & Public Utilities

  • Food & Beverages

  • Others

Logistics & Supply Chain Industry Regional Outlook

  • North America

    • US

    • Canada

  • Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Australia

    • Rest of Asia-Pacific

  • Rest of the World

    • Middle East

    • Africa

    • Latin America

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