Logistics is a term used to describe the process of acquiring, storing and distributing goods and services. It encompasses a wide range of activities and operations, such as procurement, inventory management, transportation, warehousing, order processing, and customer service. Logistics is a critical component of the supply chain and can be a major factor in determining a company’s success or failure. Properly managed logistics can help a business become more efficient, reduce costs, and improve customer satisfaction.
Trends
- Automation: Automation is becoming increasingly important in the logistics industry. Automation technologies such as robotics, artificial intelligence, and machine learning are being used to streamline operations and reduce costs.
- Big Data: Big Data is being used to analyze customer behavior and anticipate trends, allowing logistics companies to make more informed decisions.
- Blockchain: Blockchain is emerging as a powerful tool for tracking goods, verifying transactions, and increasing supply chain transparency.
- Last Mile Delivery: Last mile delivery is a major challenge for the logistics industry, and companies are exploring new technologies and strategies to make the process faster and more efficient.
- Drones: Drones are being used for both delivery and inventory management, allowing for faster delivery times and improved accuracy.
Stats
- The global logistics market is estimated to be worth $4.5 trillion USD.
- The United States logistics market is estimated to be worth $1.4 trillion USD.
- The Asia-Pacific region accounts for about 35% of the global logistics market.
- The European Union accounts for approximately 20% of the global logistics market.
- The global logistics industry is expected to grow at a CAGR of 8.5% from 2020 to 2027.
- The global logistics industry is projected to reach a value of $7.9 trillion USD by 2027.
- The air freight market is estimated to be worth $150 billion USD.
- The ocean freight market is estimated to be worth $380 billion USD.
- The road freight market is estimated to be worth $1.1 trillion USD.
- The global warehousing market is estimated to be worth $600 billion USD.
Start-ups
- Flexport is a digital freight forwarder and logistics platform that helps companies streamline their global supply chain.
- ShipBob is a technology-driven 3PL that helps businesses with their eCommerce fulfillment needs.
- Shippo is a shipping API and dashboard that enables businesses to compare shipping rates, buy and print labels, and track packages from multiple carriers.
- Flock Freight is a technology-driven, last-mile trucking platform that helps shippers optimize their supply chain.
- Convoy is a digital freight platform that connects shippers with available trucking capacity.
- Loadsmart is a technology-driven logistics platform that helps shippers move their freight at lower costs.
- KeepTruckin is a fleet management platform that helps trucking companies manage their fleets and operations.
- Transfix is a digital freight platform that helps shippers optimize their supply chains.
- Cargomatic is a digital freight marketplace that connects shippers with available trucking capacity.
- LoadDelivered Logistics is a technology-driven 3PL that helps companies manage their supply chains.
Key words
- Blockchain
- Logistics
- AI
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