Logistics Services Market Size, Share, Growth, Trends, and Global Industry Analysis: By Service Type (Transportation, Warehousing and Storage, Value-Added Services, Inventory Management), By End-User Industry (Retail, Manufacturing, Healthcare, Automotive, Food and Beverage), and Region Forecast 2019-2030

Logistics Services Market size was valued at US$ 9,638.9 billion in 2023 and is projected to reach a value of US$ 14,208.6 billion by 2030, growing at a CAGR of 5.7% from 2024-2030.

The market is a dynamic and rapidly evolving sector that plays a crucial role in global trade and commerce. It encompasses a wide range of services and technologies aimed at efficiently managing the flow of goods, from production to consumption, across various industries and geographical regions. the market is experiencing robust growth, driven by the rapid expansion of the e-commerce sector and technological advancements such as automation and artificial intelligence (AI). However, the industry faces challenges like rising operational costs and regulatory constraints. Opportunities lie in the growth of emerging markets and increasing sustainability initiatives. Key trends include the adoption of green logistics practices, the integration of blockchain technology for enhanced transparency, and the use of IoT devices for real-time tracking

Key Players

The leading companies highlighted in the market report include such as J.B. Hunt Transport Services, C.H. Robinson Worldwide, Inc, Ceva Logistics, FedEx Corp, GEODIS, Americold Logistics, LLC and others. Also, a comprehensive analysis of industry verticals and market participants that provides a clear overview of the competitive landscape in relation to the sectors served by the company’s products and services, market share, service offerings, financial reports, significant developments, market strategy, competitive position, and geographic reach.

Key Takeaways

• Asia Pacific market is the dominant market in 2023.
• The North America market is expected to expand at highest CAGR from 2024 to 2030.
• Based on service type, transportation segment dominated the market in 2023.
• Based on end user, the segment has expected to dominate the market in coming forecast years.

Facts & Figures

• In May 2024, A.P. Moller-Maersk announced the opening of a new air freight in-transit gateway in Miami, Florida, to enhance connectivity between Asia, Latin America, and the U.S., providing a strategic node in its global air freight network. The 90,000-square-foot facility, fully staffed by Maersk professionals, aims to support transhipping European and Asian cargo to Latin America, improving transit times, connectivity, and reliability for customers.
• In September 2023, Aramex has confirmed the effective trials of its drone and roadside bot deliveries in Dubai as part of its Future Delivery Program, intending to improve last-mile logistics with smart shipping for faster, greener, and more economical deliveries.

Key Developments

In march 2023, DSV signed a contract to purchase two American-based shipping and logistics firms, Global Diversity Logistics and Sand M Moving Systems West to strengthen its position cross-border.

Logistics Services Market Segmentation

By Service Type: Among all the service types in the market, transportation remains the dominant force. This sector is fundamental to logistics operations, as it facilitates the movement of goods from the point of origin to the final destination. Efficient transportation networks, including road, rail, air, and sea, are crucial for ensuring timely delivery, reducing transit times, and maintaining the integrity of goods during transit. The rise of e-commerce has further amplified the need for robust transportation solutions to meet the growing demand for fast and reliable deliveries. Additionally, transportation is integral to supply chain management, connecting various nodes in the chain and enabling seamless logistics operations across different industries. As such, it serves as the backbone of the market, driving growth and innovation

By End User Industry: Retail is the most used sector in the market. This dominance is primarily driven by the explosive growth of e-commerce, which has significantly increased the demand for efficient logistics solutions to manage the movement of goods from suppliers to consumers. Retailers rely heavily on robust transportation, warehousing, and inventory management services to ensure timely deliveries and maintain customer satisfaction. The need for fast and reliable delivery systems is critical in the retail sector, making it a key driver of growth and innovation in the logistics market. Additionally, the retail industry's reliance on logistics services to manage large volumes of diverse products further underscores its significance in this market.