Logistics Market Size, Share, Growth Analysis, By Type(1 PL, 2 PL, 3 PL, 4 PL), By Transportation(Roadways, Seaways, Railways, and Airways), By End Use Industry(Healthcare, Automotive, FMCG, Energy & Utilities), By Distribution Channel(B2B, B2C), By Region - Industry Forecast 2024-2031

Drivers

Growing E-Commerce Industry Demand and Operational Excellence: 

• Both the eCommerce and logistics sectors have grown significantly as a result of technologically enabled logistics platforms and the expanding online purchasing market. In the upcoming years, there is predicted to be a twofold growth in the number of online shoppers, which has expanded in recent years. 

Advancements in several Fields, Including Integrated Logistics: 

• AI is actively enhancing driver safety surroundings and optimizing vehicle performance and maintenance to enhance the transportation and logistics industry as a whole. Additionally, AI is working harder and actively to produce autonomous or driverless vehicles. Robotics and other technologies in the logistics supply chain are also advanced by artificial intelligence. 

Restraints 

Inconsistent Governance Norms within the Disjointed Logistics Sector: 

• The absence of governance is one of the main obstacles preventing digital logistics from being widely used. The logistics business is very fragmented, thus creating a uniform IoT platform is necessary. Businesses engaged in logistics and transportation all over the world are concentrated on optimizing supply chain effectiveness in order to maintain profitability and sustainability. 

Increased Up-Front Costs for Regulatory Compliance: 

• One of the main issues facing the logistics sector is the variety of regulatory requirements coupled with increasingly stringent service delivery requirements. Besides, major financial outlays for digitizing logistics operations are imperative, which include installing automation software, hardware and solutions that cost a lot.