The Freight And Logistics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Freight And Logistics Global Market Report 2024, The freight and logistics market size has grown strongly in recent years. It will grow from $16.71 billion in 2023 to $17.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to technological advancements in transportation, containerization and intermodal transport, regulatory changes and compliance, evolution of supply chain management, adoption of just-in-time inventory systems.
The freight and logistics market size is expected to see strong growth in the next few years. It will grow to $21.82 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to integration of AI and machine learning, expansion of autonomous vehicles, digital transformation and IoT integration, globalization and cross-border trade, blockchain in supply chain traceability. Major trends in the forecast period include automation and robotics, data analytics and predictive insights, last-mile delivery innovations, sustainable practices and green logistics, demand for faster delivery options.
The increasing global trade activities are expected to propel the growth of the freight and logistics market going forward. Global trade activities refer to the import and export of goods and services across international boundaries. Freight and logistics services are used to transport goods internationally through different modes of transport. An increase in global trade activities has led to an increase in the volume of transporting goods to different countries through different means of transportation. For instance, according to United Nations Conference on Trade and Development, a Switzerland-based, United Nations organization, for the year 2021, exports of developing countries increased to 30% higher in the fourth quarter of 2021, and global trade reached a record level of USD 28.5 trillion in 2021. Also, China is contributing the highest, 15% of all world exports. Therefore, the increasing global trade activities in emerging economies are driving the growth of the freight and logistics market.
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The freight and logistics market covered in this report is segmented –
1) By Type: Airways, Railways, Roadways, Waterways
2) By Function: Freight Forwarding, Warehousing, Value-added Services, Other Functions
3) By End User: Manufacturing And Automotive, Oil And Gas, Mining, And Quarrying, Agriculture, Fishing, And Forestry, Construction, Distributive Trade, Other End Users
Major companies operating in the freight and logistics market are developing new products such as freight booking and management systems to gain a competitive edge in the market. Freight booking and management systems refer to comprehensive software solutions designed to facilitate the efficient and streamlined process of booking, organizing, and overseeing the transportation of goods within the freight and logistics industry. For instance, in May 2023, Tiger Logistics (India) Limited, an India-based international logistics company, launched FreightJar, a digital freight booking & management platform. The platform promises to streamline freight booking processes, saving enterprises up to 3-5 working days per booking and reducing the need for extensive email communication. By bringing all stakeholders onto a single platform, FreightJar enhances transparency in logistics costs and contributes to sustainability by reducing carbon footprint. The user-friendly platform provides real-time freight rates, instant booking, automated documentation, and shipment tracking, fostering accessibility, visibility, and transparency in supply chains. Additionally, FreightJar offers Cargo Value Financing solutions for exporters, enabling cash flow management and collateral-free financing options.
The freight and logistics market report table of contents includes:
1. Executive Summary
2.Freight And Logistics Market Characteristics
3.Freight And Logistics Market Trends And Strategies
4. Freight And Logistics Market analysis
5.Freight And Logistics Market Size And Growth
6.Freight And Logistics Segmentation
7.Freight And Logistics Regional And Country Analysis
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27.Freight And Logistics Competitive Landscape And Company Profiles
28.Freight And Logistics Key Mergers And Acquisitions
29.Freight And Logistics Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- United Parcel Service Inc
- DHL International GmbH
- Deutsche Post AG
- FedEx Logistics Inc.
- A.P. Moller-Maersk Group,
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