How Is Asia Pacific Expected To Shape The Future Outlook Of Global Logistics And Warehouse Market In Next 5 Years? Will The Global Market Reach Valuation Of $1 Trillion By 2028: Ken Research
Global Logistics and Warehouse Market Ecosystem
The Global Logistics and Warehousing Market are highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche in Logistics and Warehousing. Some of the major players in the market include Deutsche Post DHL Global, XPO Logistics, Ryder System Inc, NFI Industries Inc, Americold Logistics, FedEx Corporation, Lineage Logistics, NF Global Logistics Ltd, APM Terminals, DSV Panalpina AS, MSC Mediterranean Shipping Co. SA
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- Large swings in consumer demand & domestic goods consumption has created resilience against COVID-19 downfall.
- Global exports to China significantly increased in 2021 due to rattling exports of dairy and wood products.
- Demand for Pharmaceutical products along with FMCG and Food products during the COVID-19 pandemic contributed to the high growth of Land Transportation during 2020.
1. Evolving digital technology solutions
- Key warehouse market trends identified by our research include the ability of warehouse service providers to update their value chain procedures via the usage of developing digital technology solutions.
- The growth of corporate software programmes and cloud-based product lines has enabled warehouse service providers to better manage their inventory and test out an on-demand service model for customers to meet the demands of seasonal markets.
- By minimising inventory errors, enhancing resource productivity, assuring end-to-end system transparency, and giving accurate inventory projections for smart demand management, the adoption of digital technology may also help warehouse organisations overcome operational challenges.
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2. Big Data is developing reliable warehouse and logistics operations.
- The largest success story for big data in the logistics sector may well be UPS.
- The business has significantly improved operational effectiveness and cost savings through data collecting, analysis, and demand forecasting.
- Around 200 onboard sensors in 80,000 cars track things like speed, braking, location, and idle time.
- Several of the sensors gather diagnostic information on the battery and tyre pressure of the car, enabling preventive maintenance. The objective is to reduce the amount of time a vehicle spends in the shop.
3. Present era, Asia-Pacific dominates the global market for warehouse and storage services.
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Asia-Pacific now holds the largest market share in the world for warehouse and storage services, and it is predicted that over the projected period. Due to the region’s high perishable food consumption, refrigerated warehousing techniques are more necessary. Throughout the predicted shelf life of these food products, there will likely be a substantial increase in the number of food and beverage enterprises manufacturing a wide variety of perishable food goods and frozen foods. As part of its warehousing solutions development into the Asia-Pacific region, Rhenus Logistics announced in 2019 that it now provides end-to-end logistics solutions to India, Greater China, Hong Kong, the Philippines, Thailand, Singapore, Malaysia, and Vietnam.
Analysts at Ken Research in their latest publication “Global Logistics and Warehousing Market Outlook to 2028- Driven by the Rising Demand from Manufacturing, F&B, Retail, and other industries along with increasing Government Initiatives to Strengthen the Logistics Infrastructure” observed that Global Logistics Market is in a growing phase. Increasing demand for food, beverages, and manufacturing products in Global and Government support to improve transport facilities are some of the factors that will contribute to the Global Logistics market growth over the period of 2023-2028. It is expected that Global Logistics Market will grow at a positive CAGR for the above-forecasted period.
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