Transportation and Logistics Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Transportation and Logistics Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Transportation and Logistics Services Market

The transportation and logistics services market size was valued at USD 1,149.92 billion in 2021, and the market is now projected to grow from USD 1,211.06 billion in 2022 to USD 1.804.49 billion by 2029, exhibiting a CAGR of 5.11% during the forecast period of 2021-2029.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the transportation and logistics services market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. Stopped providing on-site maintenance and installations market growth sputtered amid the pandemic.

Expanding international trade to promote market augmentation during forecast period. International import and export of products and services are examples of global commerce activities. In order to move commodities across international borders via various types of transportation, logistics and freight services are utilized. The volume of commodities moved to different nations by alternative modes of transportation has increased as a result of an expansion in global trade operations. For example, the United Nations reports that global trade hit a new high of USD 28.5 trillion in 2021 and that exports from developing nations rose by 30%. With 15% of world exports, China makes the largest contribution. As a result, rising international trade in developing nations is fueling market expansion.

Cloud-based systems are being used more often in logistics management to fuel transportation and logistics services market growth during forecast period. By 2025, small and medium-sized enterprises hope to have doubled their technology expenditures. To keep their dominant position in the market, industry leaders are concentrating on technological developments. Every major participant is digitizing their supply chain infrastructure. For increased efficiency, transportation management (TMS) tools including Freight Viewer and tracking systems have been migrated to the cloud. Additionally, a lot of logistics firms are transferring their TMS to the cloud in order to establish a cloud-based TMS. Automation is made possible by cloud-based TMS, which also smoothly removes human labor, optimizes workflows, and lowers additional IT infrastructure costs. To improve visibility, they also gather information from a variety of internal and external sources. The cloud-based TMSs are accessible and implementable from any location in the world.

Comprehensive Analysis of Transportation and Logistics Services Market

The transportation and logistics services market and automotives industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by service types, by mode of transport type and by end users. The Service Type segmentations include Warehouse Services, Transportation, Inventory Management, and Administration & Supplies, By Mode of Transport Type segmentations include Airways, Railways, Roadways, and Waterways, By End Use segmentations include Automobiles, Machinery, Apparel and Footwear, Pharmaceutical Products, Retail, Aircraft, Ships and Railways, Electronics, Petrochemicals, Agriculture, Building Materials, and Others.

The Asia Pacific region lead the transportation and logistics services market by benefitting a market size of USD 435.15 billion in 2021 due to Expanding international trade, Cloud-based systems used in logistics management.

The top players in the market play a crucial role in the automotives industry assuring industrial prospectus growth and setting market standards. These players include, C.H. Robinson Worldwide Inc. (U.S.), United Parcel Service, Inc. (UPS) (U.S.), FedEx Corp. (U.S.), Deutsche Post AG (Germany), Kuehne+Nagel International AG (Switzerland), A.P. Moller – Maersk (Denmark), Schenker AG (Germany), DSV Solutions (Denmark), Nippon Express Holdings, Inc. (Japan), Landstar System Holdings, Inc. (U.S.) these market players provide a level-playing competitive landscape.

In February 2023, In order to give RCS customers a one-stop shop with full visibility over their shipments across the ocean, water, and air, as well as intermodal and over-the-road (OTR), FourKites and RCS Logistics announced their cooperation. RCS's internal teams and clients have automated real-time visibility into the location and status of shipments in transit and at rest across the globe by utilizing FourKites' real-time supply chain data.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2018-2029

Base Year

2021

Estimated Year

2022

Forecast Period

2022-2029

Historical Period

2018-2020

Unit

Value (USD Billion)

By Service Type

Warehouse Services

Transportation

Inventory Management

Administration & Supplies

By Mode of Transport

Airways

Railways

Roadways

Waterways

By End Use

Automobiles

Machinery

Apparel and Footwear

Pharmaceutical Products

Retail

Aircraft

Ships and Railways

Electronics

Petrochemicals

Agriculture

Building Materials

Others

By Geography

North America (By Service Type, By Mode of Transport, & By End Use)

• U.S. (By Service Type, By Mode of Transport, & By End Use )
• Canada By Service Type, By Mode of Transport, & By End Use )
• Mexico (By Service Type, By Mode of Transport, & By End Use )

Europe (By Service Type, By Mode of Transport, & By End Use )

• Germany (By Service Type, By Mode of Transport, & By End Use )
• France (By Service Type, By Mode of Transport, & By End Use )
• U.K. (By Service Type, By Mode of Transport, & By End Use )
• Rest of Europe (By Service Type, By Mode of Transport, & By End Use )

Asia Pacific (By Service Type, By Mode of Transport, & By End Use )

• China (By Service Type, By Mode of Transport, & By End Use )
• Japan (By Service Type, By Mode of Transport, & By End Use )
• India (By Service Type, By Mode of Transport, & By End Use )
• South Korea (By Service Type, By Mode of Transport, & By End Use )
• Rest of Asia Pacific (By Service Type, By Mode of Transport, & By End Use )

Rest of the World (By Service Type, By Mode of Transport, & By End Use )Please Note: It will take 5-6 business days to complete the report upon order confirmation.