Latest News - Freight Logistics Market: Road is expected to lead the Type segment during 2024-2028

The Freight Logistics Market is being driven by Increasing outsourcing in logistics

The Freight Logistics Market is expected to grow at a CAGR of 6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 359.2 billion. In the realm of freight logistics, both intermodal and multimodal transportation modalities employ multiple modes of transport. However, they differ significantly in contractual terms. Multimodal transportation, characterized by a single contract, enables a singular transport carrier to assume responsibility for moving goods across various modes of transport under a single bill of lading. This arrangement offers several advantages, including risk mitigation through a single point of contact, streamlined documentation processes, and the ability to monitor shipments at a single point. The growing preference for multimodal transportation among shippers, owing to its convenience and efficiency, is projected to fuel the expansion of the global freight logistics market throughout the forecast period. 

Get more information on Freight Logistics Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Road
  • Maritime
  • Rail
  • Air
• End-user
  • Manufacturing
  • Automotive
  • Consumer goods
  • Food and beverage
  • Others
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • France
    • Germany
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing outsourcing in logistics
• Growth in manufacturing sector
• Increasing demand for food, perishable, and medical supplies deliveries

However, the market also witnesses some limitations, which are as follows:

• High infrastructure costs
• Weak transportation infrastructure
• Lack of digital technologies in supply chain and logistics

Benefits of Buying Global Freight Logistics Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Freight Logistics Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Freight Logistics Market is undergoing a significant transformation with the integration of digitization and automation. This technological evolution is revolutionizing the transportation of goods, making it more efficient and effective. The use of artificial intelligence (AI) and augmented reality (AR) in logistics services is streamlining operations, reducing errors, and enhancing the customer experience. The logistics industry caters to various sectors including Forestry, Fishing, Agriculture, Quarrying, Mining, Oil and Gas, Warehousing, Freight Forwarding, and Freight Transport. With the rise of online retail networks, customer preference for quick and reliable delivery is on the rise. Green logistics solutions are gaining popularity as businesses seek to reduce their carbon footprint. This trend is particularly relevant in industries such as Raw materials, Textiles, Food, Animal rearing, and Crop production. The implementation of AI and automation in these sectors can help optimize supply chain management, reduce waste, and improve sustainability. Mining and Quarrying, Oil and Gas, and other heavy industries are also embracing digitization and automation to improve operational efficiency and safety. The integration of technology in these sectors is enabling real-time monitoring of equipment, predictive maintenance, and remote operations. Overall, the Freight Logistics Market is poised for significant growth as businesses continue to adopt technology to optimize their supply chain operations.

Market Research Overview

According to Technavio, the global freight logistics market is a segment of the larger global air freight and logistics market, which encompasses the revenue generated by companies offering air freight transportation, courier services, and logistics solutions, including package and mail delivery and customs brokerage. The air freight and logistics market's size is determined by Technavio based on the revenue earned by providers of these services. Key factors driving growth in this market include the surge in cross-border e-commerce activities, which involve consumers purchasing goods from outside their respective countries, necessitating efficient and reliable logistics solutions. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/