Global Logistics Market Worth $16,063bn by 2022April 26th, 2017
The global logistics market is forecasted to reach US$12,256 billion ($16,063 billion) by 2022 (Logistics Magazine, 2017). ‘Logistics – Global Opportunity Analysis and Industry Forecast, 2014 – 2022’ projects a CAGR of 3.48% from 2016 to 2022, with Asia-Pacific dominating the global market in terms of revenue – accounting for more than a 34 per cent share of the global market. China accounts for about a 59 per cent share in the Asia-Pacific logistics market. In 2014, the roadway segment dominated the global logistics market in terms of revenue, and it is projected to grow at a CAGR of 3.33 per cent during the forecast period. The manufacturing segment dominated the global logistics market, accounting for about 26 per cent share in 2014. “Roadways are one of the key components of modes of transportation and multimodal transport. It accounts for nearly 47.29 per cent of the overall mode of transportation used in the world logistics market. The segment contributed highest share in total logistics market owing to its speed transportations and flexibility.” Reference: Logistics Magazine, 26th March 2017, Global logistics market worth $16,063bn by 2022.