Logistics Market Worldwide Prospects, Share, Crucial Players, Size & Forecast –

Posted by Fred Williams on February 11th, 2022

Logistics has always been the forbearer of change across any century or region. People rely on goods transport since time immemorial. The growing reliance of the global populace on goods and products has brought excellent prospects and has led to expansive growth. As the years progressed, the shape of the logistics sector changed rapidly. New technologies and innovations emerged to make the transport process smoother. Hence, based on many aspects, the logistics market will observe exponential growth across the assessment period of 2019-2027.

Logistics is a sector dealing with the planning, controlling, and execution of material, service, and capital movement. They are a part of the supply chain management that deals with the overall management of transporting goods from one place to another. Almost all sectors make use of logistics on a massive scale, which help improve the logistics sector’s growth trajectory.

The penetration of novel technologies is proving to be exceptional growth generators for the logistics market. Big Data, Artificial Intelligence (AI), machine learning, and others are generating promising profits for the logistics market. Other aspects such as automation and robotic process automation (RPA) are also playing a major role in the growth of the logistics sector. One of the prominent functions of RPAs in logistics is the automation of a tracking system for both vehicles and shipments. These factors bring golden growth opportunities for the logistics market.

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Transparency Market Research (TMR) has conducted phenomenal research on all the factors associated with the logistics market. The logistics market, according to the TMR experts, after an expansive study on aspects such as regional growth, competitive insights, and others, will expand at a CAGR of 4.5 percent during the forecast period of 2019-2027. The global logistics market is extrapolated to reach a value of US$ 15,273.21 bn by 2027, the end year of the forecast period.

Omnichannel Shipping to Add Extra Stars of Growth

The growing demand for quick delivery mechanisms for the customers has led to the adoption of numerous methodologies and processes. The omnichannel shipping method is one of them. The goal of the omnichannel shipping method is to increase customer loyalty and retain them. Such factors bode well for the growth of the logistics market.

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Fred Williams

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Fred Williams
Joined: May 7th, 2020
Articles Posted: 371

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