Experts believe that the logistics market will see double-digit growth in the next 8 years.
Logistics is entering the golden stage thanks to the development of e-commerce.
According to market research companies, the global logistics industry is expected to exceed $ 781 billion in revenue by 2024, compared to about $ 122.2 billion in 2014.
In the next 8 years, the annual growth rate of this industry will be over 20%. The current leading logistics companies for e-commerce such as FedEx, DHL … will account for more than 50% of the market.
Along with that, the explosion of cross-border e-commerce websites is expected to create a turning point for the commercial logistics market. The low-cost carrier services also boost the industry as a whole.
E-commerce websites operating under the model of B2C (from business to customer) and C2C (from user to user) are increasing the demand for domestic as well as international shipping.
If you divide logistics by service, the transportation will have a larger market share than warehouse. In fact, the delivery service has always played an important role in the logistics process and many businesses focus on the final stage of delivery (including delivery to customers, payment assistance) instead of warehouse. yards.
Transportation services are subdivided into many categories through shipping methods including air, road, rail and water. In particular, road accounts for the majority of the market share because it is the most popular method, and because rail and air transport are more difficult to transport.
In addition, there are many factors affecting the development of the logistics industry, for example, the rapidly growing population in the Asia-Pacific region has created billions of dollars of opportunities for the logistics market. This region accounts for about 60% of the global population (according to the World Population Report 2015).
The staggering smartphone consumption and the coverage of the Internet connection to the people are also proof why e-commerce companies as well as logistics companies see this as a potential market.