Freight Logistics Market size is set to grow by USD 319.65 mn from 2023-2027, increasing outsourcing in logistics to boost the market growth, Technavio

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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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

Type1.1 Road1.2 Maritime1.3 Rail1.4 AirEnd-user2.1 Manufacturing2.2 Automotive2.3 Consumer goods2.4 Food and beverage2.5 OthersGeography3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 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

TypeRoadMaritimeRailAirEnd-userManufacturingAutomotiveConsumer GoodsFood And BeverageOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Email: [email protected]
Website: www.technavio.com/

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SOURCE Technavio