Recently a report has been added to researchandmarkets.com’s website which indicates growth, trends, and forecasts (2020 – 2025) for the freight and logistics market.
The freight and logistics market is forecasted to grow at a CAGR (Compound annual growth rate) of approximately 5% during the forecast period of 2020 to 2025. The Asia pacific logistics industry is growing very fast due to the increasing logistics in ASEAN countries. The presence of major economies in this region like China and India are playing a crucial role.
The major slowdown in the world’s trade is expected to hit the air the cargo market’s volume growth as the freight capacity growth is expected to overtake the demand due to weakened consumer confidence.
The logistics industry across the value chain are prospective to prioritize overall operational efficiencies, with investments in technology. The freight forwarders that offer very creative online solutions in freight matching, and transportation management solutions are expected to transform the segment with improved customer experience. Warehouse management is expected to transform significantly with process automation. Globally many logistics companies have chosen to digitalize their operations due to the changing requirements of their clients.
Two key market factors-
- The Asia Pacific holds the largest share in the global market
- E-Commerce is driving the logistics Industry
The global freight and logistics market is consolidated due to some top companies holding more than 50% market share in the overall industry. The market is pretty much expected to grow more during the forecast period as the other emerging countries would push the demand for the logistics and freight sector.
Source: GlobeNewswire and Internet.