Key Manufacturing Logistics Market Trend: Advancing Logistics Through Digital Ecosystems And Sustainable Technologies
Manufacturing Logistics Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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LONDON, GREATER LONDON, UNITED KINGDOM, December 11, 2024 /EINPresswire.com/ -- The Manufacturing Logistics Global Market is projected to surge from a substantial figure of $133.54 billion in 2023 to an impressive $146.97 billion by 2024 as per the latest report analysis. The anticipated compound annual growth rate CAGR of 10.1% is a testament to the burgeoning success of the manufacturing logistics sector. This growth during the historic period can be associated with an increasing adoption of logistics, a rising demand for efficient logistics services, substantial progress in trade-related agreements, as well as a concentrated effort to optimize supply chains.
What Lies Ahead for the Manufacturing Logistics Market?
Deciphering future growth trends of the manufacturing logistics market anticipates a significant elevation in its size, from $147 billion to an impressive $216.56 billion by 2028. This exponential growth trajectory aligns with a compound annual growth rate CAGR of 10.2%. Key factors influencing this projected growth in the forecast period include a rise in globalization and international trade, escalating demand for efficient supply chain management, a growing need for advanced logistics solutions, and a surge in the e-commerce industry. Also noteworthy are significant trends on the horizon which include technological advancements, blockchain technology integration, integrated supply chain networks, technology integration into logistics operations, and innovative approaches to cross-border logistics.
Is The E-commerce Boom catalyzing the Manufacturing Logistics Market?
The exponential growth of the e-commerce industry is projected to turbocharge the progress of the manufacturing logistics market. E-commerce refers to the buying and selling of goods and services over the internet, encapsulating all transactions conducted online, whether retail, wholesale, digital products, or services. The boom in the e-commerce sector hinges on unprecedented global internet access, which expands online shopping opportunities, and effective supply chain and delivery solutions ensuring faster and more reliable shipping.
Effective manufacturing logistics optimizes inventory management, production processes, and order fulfillment strategies. These strategies significantly enhance the timely and efficient delivery of e-commerce products to customers. In June 2022, total e-commerce sector in Europe had a turnover of about $869 billion as recorded by Ecommerce Europe. The trend is expected to persist into 2022, with a projected growth rate of 11% and an anticipatory turnover around $958 billion, thus amplifying the growth of the manufacturing logistics market.
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Who Are the Key Players in the Manufacturing Logistics Market?
The manufacturing logistics market is dotted with key players such as JD Logistics Inc., DHL Supply Chain North America Inc., UPS Supply Chain Solutions Inc., A.P. Moller - Maersk A/S, Kuehne + Nagel Inc., DSV Panalpina A/S, DB Schenker Logistics, C.H. Robinson Worldwide Inc., FedEx Supply Chain Inc., CEVA Logistics AG and others. These significant market players are strategizing and expanding their business offerings through innovative solutions, such as logistics services on the open network for digital commerce ONDC, to leverage supply chain efficiency and provide seamless integration with e-commerce platforms.
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Breaking down the Manufacturing Logistics Market
The manufacturing logistics market spans multiple segments, each contributing to the dynamic nature of the industry:
1 Services: Transportation, Warehousing, Distribution, Inventory Management
2 Transportation Mode: Road, Rail, Air, Sea
3 Technology: Internet Of Things, Artificial Intelligence And Machine Learning, Robotics And Automation, Cloud Computing, Blockchain, Other Technologies
4 Industry: Automotive, Aerospace, Electronics, Pharmaceuticals, Food And Beverage, Textiles, Other Industries
A Regional Perspective
Asia-Pacific held the title for the largest region in the manufacturing logistics market in 2023. However, the scope of the market is global, covering regions such as Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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