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

Global Logistics Market size was valued at USD 258.70 billion in 2022 and is poised to grow from USD 288.45 billion in 2023 to USD 689.08 billion by 2031, growing at a CAGR of 11.5% in the forecast period (2024-2031).

Logistics is what we call the system of arranging and moving resources like equipment, food, drinks, stocks, items and human beings from one location to store them at the intended site. This encompasses monitoring the flow of goods from their starting points till they reach the final point of consumption in order to respond appropriately to consumer wishes. The efficient and successful administration of day-to-day operations pertaining to the manufacturing of the company's final goods and services is the main emphasis of logistics management. This kind of management organizes, carries out, and regulates the effective forward, reverse, and storage movement of commodities. It is a component of supply chain management. 

The market is growing as a result of such factors as accelerated e-commerce growth, heightened reverse logistics processes and a greater number of trade-related deals. Additionally, it is expected that the market will grow due to the emergence of technology-based logistics services and more utilization of interconnected IoT devices across different industries. Nevertheless, inadequate infrastructure, increased logistics costs, and producers' lack of control over logistical services impede market expansion. In addition, the advent of last-mile deliveries, automation of logistics, and cost & lead time reductions using multi-modal systems are a few more aspects that are projected to support market expansion.