Latest News- Logistics Market in Thailand: Transportation is expected to lead the Application segment during 2024-2028
The Logistics Market in Thailand is being driven by Growing e-commerce propels demand for logistics services
The Logistics Market in Thailand is expected to grow at a CAGR of 4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 14867.5 million. Blockchain technology is a secure and decentralized digital ledger system, consisting of interconnected blocks that store encrypted data. In the logistics sector, this technology enhances operational transparency and enables efficient product tracking throughout the supply chain. Each block in the chain records the involvement of stakeholders and specific product details, creating an immutable and tamper-proof record. By employing blockchain technology, logistics companies can streamline their processes, reduce errors, and build trust with their clients.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Transportation, Inventory holding, Administration) End-user (Manufacturing, Automotive, Retail, Healthcare, Others) Geography (APAC).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Logistics Market in Thailand Research Report
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In Thailand's logistics sector, last-mile delivery, warehousing, and supply chain services are key areas of focus. Innovations like drones, autonomous vehicles, and automated warehouses are transforming the industry. Customer expectations for faster delivery and green logistics solutions are driving the adoption of electric vehicles and tech-driven logistics. E-commerce, industrial and manufacturing, and online purchases are boosting home delivery facilities. Inbound and outbound logistics, digital logistics, and reverse logistics operations are being optimized through IoT-enabled devices, logistics monitoring systems, blockchain, AI, and logistics automation. Trade agreements and a multi-modal system are essential for efficient transportation, while military logistics ensures the movement of goods for defense and security purposes.
The Thai logistics market encompasses providers of last-mile delivery, warehousing, and supply chain services. Technavio's market analysis calculates the market size based on the revenue generated from air freight, drones, autonomous vehicles, and electric vehicles, as well as logistics services such as package and mail delivery, customs agents, and transportation. Key growth drivers include the rise of e-commerce, increasing customer expectations for faster delivery, and the adoption of green logistics solutions like automated warehouses and electric vehicles. Cross-border e-commerce activities are also surging, necessitating advanced logistics capabilities.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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