Warehousing And Distribution Logistics Market
The Global Opportunity Analysis and Industry Forecast, 2021-2031 by Allied Market Research report, “The global warehousing and distribution logistics market was valued at more than $12 billion in 2021, and is projected to reach more than $25 billion by 2031, growing at a CAGR of 7.7% from 2022 to 2023.”
Market Overview
The global warehousing and distribution logistics market is growing significantly due to the rise in demand for efficient and cost-effective supply chains with reduced lead time. Warehousing and distribution centers are an integral part of a smooth-functioning supply chain. From inventory documentation to product packaging, many organizations rely on the customized nature of such services.Factors such as the increase in demand for warehousing and distribution logistics in the e-commerce industry, the surge in demand for refrigerated warehouses, and the emergence of last-mile deliveries coupled with logistics automation are anticipated to boost the growth of the global warehousing and distribution logistics market during the forecast period. The rise of tech-driven warehousing & logistics services, and cost-cutting and lead time reduction due to the adoption of multi-modal systems are expected to create an opportunity for the warehousing and distribution logistics industry in the near future.
Rise Of Tech-Driven Warehousing And Logistics Services
The change in technological trends and implementation of advanced technologies in FMCG, pharmaceutical, and other industries have revolutionized the warehousing and distribution logistics market globally. The increase in penetration of Internet of things (IoT) solutions in logistics operations enables direct access to the company network through the internet for the customers and freight companies. In addition, the evolution of state-of-the-art technologies such as artificial intelligence (AI), machine learning, radio-frequency identification (RFID), and Bluetooth coupled with other newly introduced technologies is being witnessed by the logistics industry. Moreover, the digital transformation of supply chains across the world reduces inefficiency and waste which promotes the use of IoT-enabled devices in warehousing and logistics services. Delivery became quick and last mile delivery is not a dream now majorly because of logistics infrastructure and technological developments such as logistics management software, robotics, artificial intelligence, the Internet of Things, and real time information systems.
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