NEWS PROVIDED BYTechnavio
May 16, 2024, 11:23 ET
NEW YORK, May 16, 2024 /PRNewswire/ — The global freight logistics mark size is estimated to grow by USD 319.65 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 5.74% during the forecast period.
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| Forecast period | 2023-2027 |
| Base Year | 2022 |
| Historic Data | 2017 – 2021 |
| Segment Covered | Type (Road, Maritime, Rail, and Air), End-user (Manufacturing, Automotive, Consumer goods, Food and beverage, and Others), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) |
| Region Covered | APAC, North America, Europe, Middle East and Africa, and South America |
| Key companies profiled | Agility Public Warehousing Co. K.S.C.P, C H Robinson Worldwide Inc., CJ Logistics Corp., CMA CGM SA, Deutsche Bahn AG, Deutsche Post AG, Dimerco Express Corp., DSV AS, Expeditors International of Washington Inc., FedEx Corp., Hellmann Worldwide Logistics SE and Co KG, Kerry Logistics Network Ltd., Kuehne Nagel Management AG, Lineage Logistics Holdings LLC, Manitoulin Group of Companies, Nippon Express Holdings Inc., Transporteca Aps, Uber Technologies Inc, United Parcel Service Inc., and Bollore SE |
Key Market Trends Fueling Growth
The freight logistics market encompasses various industries, including Oil and Gas, Mining and Quarrying, Agriculture, Fishing, Forestry, FMCG, and Raw Materials. Freight Forwarding, Warehousing, and Storage, Logistic Function, Exactitude Consultancy, and alternative fuels are integral components. Advancements in Artificial intelligence, Data analytics, Warehouse management systems, Robotics, Autonomous vehicles, Tracking technologies, and Sensors are driving market growth. Convenience, customer preference, online retail networks, and green logistics solutions are key trends. Digitization and automation through AI, machine learning, and transportation of goods are transforming the industry.
Market Challenges
- The freight logistics market encompasses various sectors, including intermodal transportation, warehousing, manufacturing, automotive, oil and gas, mining, agriculture, and forestry. Significant investments are necessary for infrastructure development, such as gantry cranes, rail and road access, and tracking technologies. Robotics, autonomous vehicles, and sensors are also integral to streamlining operations and enhancing efficiency. The market further incorporates freight forwarding, logistics services, and customer preference-driven solutions, such as online retail networks and green logistics. Digitization and automation through AI, machine learning, and robotics are transforming waterways transportation, including inland waterways, rivers, canals, lakes, and coastal waters. The market’s growth is driven by the increasing demand for logistics monitoring systems and the evolving transportation landscape.
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Segment Overview
This freight logistics market report extensively covers market segmentation by
- Type
- 1.1 Road
- 1.2 Maritime
- 1.3 Rail
- 1.4 Air
- End-user
- 2.1 Manufacturing
- 2.2 Automotive
- 2.3 Consumer goods
- 2.4 Food and beverage
- 2.5 Others
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and Africa
- 3.5 South America
1.1 Road- The freight logistics market encompasses various modes of transportation, with the waterways sector playing a significant role. Inland waterways transportation via rivers, canals, lakes, and coastal waters is a vital component of the logistics market. The water transport segment, including freight forwarding and warehousing, caters to industries such as Oil and Gas, Mining and Quarrying, Crop production, Animal rearing, Food, Textiles, and Raw materials. The waterway sector’s growth is driven by the increasing demand for efficient and eco-friendly logistics solutions. Manhattan Associates and Exactitude Consultancy leverage advanced technologies like artificial intelligence, data analytics, alternative fuels, warehouse management systems, robotics, autonomous vehicles, tracking technologies, sensors, and ecosystems to optimize waterway logistics. The roadways segment also remains crucial, with industries like Manufacturing and Automotive relying heavily on freight transport and warehousing.
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Research Analysis
The Freight Logistics Market encompasses various sectors including Oil and Gas, Mining and Quarrying, Crop Production, Animal Rearing, Food, Textiles, and Raw Materials. Freight Forwarding and Warehousing services play a crucial role in this market, ensuring the efficient transportation of goods from one location to another. The integration of technologies such as Artificial Intelligence (AI) and Augmented Reality (AR) enhances the logistics experience, catering to customer preference in the era of digitization and automation. Online retail networks have significantly increased the demand for green logistics solutions, focusing on reducing carbon footprint and promoting sustainability. The Freight Transport sector, a key component of the Freight Logistics Market, continues to evolve with advancements in technology and changing market dynamics.
Market Research Overview
The Freight Logistics Market encompasses the transportation, warehousing, and management of goods from the point of origin to the point of consumption. This market plays a crucial role in global trade, ensuring the efficient and timely delivery of goods. Freight logistics involves various modes of transportation such as road, rail, air, and sea. The market is driven by factors including increasing globalization, growing e-commerce industry, and the need for just-in-time inventory. Advanced technologies like IoT, RFID, and AI are transforming the freight logistics industry, offering real-time tracking, improved efficiency, and enhanced customer experience. The market is segmented based on transportation modes, geography, and industry verticals. Effective logistics management is essential for businesses to remain competitive in today’s market landscape.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
- Road
- Maritime
- Rail
- Air
- End-user
- Manufacturing
- Automotive
- Consumer Goods
- Food And Beverage
- Others
- Geography
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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SOURCE Technavio