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Global Logistics Market

Added: (Tue Jan 08 2019)

Pressbox (Press Release) - The global logistics market has witnessed a moderate growth over the past few years. This can be accredited to the increasing adoption of green logistics solutions along with a rise in inter-regional trade agreements.

The recent study by IMARC Group, entitled “Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global logistics market reached a value of US$ 1,171 Billion in 2017. Logistics is the process of planning, coordinating, implementing and managing the flow of resources from the point of origin to the point of consumption. It assists in the efficient and effective transportation and storage of goods as well as services. In recent years, the logistics industry has undergone rapid transformation due to changing customer demands, behaviors, and expectations which have translated into customized orders, shorter delivery time and stringent compliance standards. On the other hand, the increasing use of RFID (Radio Frequency Identification), Bluetooth, and newly introduced technologies such as Drone Delivery and Driverless Vehicle, has helped in enhancing the efficiency of logistics services.

Global Logistics Market Trends:

One of the major factors driving the global logistics market is the rapidly expanding e-commerce industry. Online retailing has provided consumers with the convenience of shopping from the comfort of their homes. It also offers the option of returning unwanted products without going to the retailer. As logistics form a major part of the storing, transporting and delivery of the goods purchased online, this has provided a positive thrust to the market growth. Another major market trend is the growing focus on sustainability and compliance, especially environmental issues and corporate social responsibility (CSR). This has led to the growing popularity of green logistics that offer sustainable transport solutions and companies with good working conditions. Other major growth-inducing factors include a rise in inter- and intra-regional trade agreements coupled with increasing demand for reverse logistics services. On account of these factors, the logistics market is projected to register a CAGR of 2.7% during 2018-2023, reaching a value of US$ 1,374 Billion by 2023.

Browse full report: https://www.imarcgroup.com/logistics-market

Submitted by:Robert Smith
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