Singapore Logistics Market will be valued over 40 Bn SGD in 2028. Will Singapore Logistics Market stand on this expected figure? Ken Research
There are about 2,500 freight companies in Singapore with majority of them offering sea and road freight services in the country. Logistics Market in Singapore highly fragmented with highly competitive rivalry among the competitors. . Singapore logistics industry is catered by the domestic and international players and Singapore Post, CWT, YCH group are the top players offering Freight, Warehousing, Cold Chain and CEP services and many more compete on the basis of type of fleet, warehousing space, freight volume, clients, and more.
Checkout: Trends and Developments in Singapore Logistics Market
1. Technological Advancements Fostering Logistic Support
Singapore Logistics Association (SLA) has begun piloting the use of Automated Guided Vehicles (AGVs) with local robotics firm Hope Technik in a third-party logistics (3PL) warehouse. It will help not only to reduce cost but also to minimize human errors and reduce time lags.
Exxon Forklift, Sectors:
This automated guided vehicle (AGV) forklift is a fully automated vehicle that is operated with a drive by wire system. In addition to being autonomous, the AGV forklift is also equipped with GPS, to navigate reliably to its intended destination and back.
The Last Mile Delivery (LLMD) is an autonomous mobile robot (AMR) equipped with a complex sensor suite. This technology focuses on efficiency and safety. For instance, in a hospital environment, the LLMD creates a ‘safety bubble’ while delivering medical and daily necessities to a patients as it does not require any human to human contact.
Line Picking Assembly (LPA) – With the aid of a robotic arm, the Line Picking Assembly (LPA) is a system designed to automate the handling of Horizontal Wafer Shipper (HWS) at both the pre and post auto packer stations in a wafer fabrication plant.
Click and Collect System- The Click and Collect System is a dedicated automated robot arm receiving area which places merchandise into designated ‘pigeon hole’ shelves for temporary storage to be retrieved at the patron’s convenience at a shopping mall.
2. Infrastructure Development is on rise in Singapore.
The development of logistics infrastructure, such as intermodal connectivity, logistics parks, and ports, is creating business opportunities. The government is also accelerating the development of Singapore’s public charging infrastructure for electric vehicles.
Singapore has always been a strong performer in the global logistics scene and is considered one of the world’s leading logistics clusters, thanks to its:
– world-class logistics infrastructure
– global connectivity
– efficient customs handling
– liberal taxation policies
– especially the rise of the ASEAN region as a new economic powerhouse, considering
its location in the heart of Southeast Asia and at the center of major shipping lanes.
The World Bank has ranked Singapore as the No.5 Logistics Hub amongst 160 economies
globally in the 2014 Logistics Performance Index.
In terms of its Air Logistics Sector, both of its “Quality of Air Transportation” and “Quality of Air Transport Infrastructure” have been ranked as No.1 in IMD1 «World Competitiveness
Yearbook 2013» and in World Economic Forum «Global Competitiveness Report 2013-2014»
respectively. On the other hand, its “Quality of Port Infrastructure” has been ranked No.2 by World Economic Forum in «Global Competitiveness Report 2013-2014.
Major Players Mentioned in the Report:
- Poh Tiong Choon Logistics Limited
- CWT Pte Ltd.
- CEVA Logistics Singapore Pte Ltd
- Geodis Singapore Pte Ltd1
- DHL Express (Singapore) Pte Ltd
- DSV
- Yusen Logistics (Singapore) Pte Ltd.
- YCH Group Pte Ltd
- Yamato Transport (S) Pte Ltd
- Federal Express (Singapore) Pte Ltd
- ACW Logistics Pte Ltd
- Singapore Post Limited
- Richland Logistics Services Pte Ltd
- Storbest SSHK Cold Logistics
- Global Cold Chain Solutions1
- ST Logistics
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- E-commerce Companies
- Third-Party Logistic Providers
- Potential Market Entrants
- Freight Forwarding Companies
- Warehousing Companies
- Cold Storage Companies
- Industry Associations
- Consulting Agencies
- Government Bodies & Regulating Authorities
Time Period Captured in the Report:
- Historical Period: 2019-2022
- Base Year: 2022
- Forecast Period: 2022-2028
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