Global Logistics and Warehousing Market to Reach $15.8 Trillion in this year

The global logistics and warehousing market is expected to reach $15.8 trillion by 2023, according to a report by Grand View Research. The market is driven by the increasing need for efficient transport and storage of goods, which is driven by the growth of the e-commerce sector. Additionally, the emergence of the Internet of Things (IoT) and Big Data analytics is expected to fuel further growth in the sector.

The market is segmented into road transport, air transport, sea transport, and warehousing and storage. Of these, the road transport segment is expected to witness the highest growth as it is the most cost-effective form of transportation. This is due to the increasing number of vehicles and the development of better infrastructure.

The warehousing and storage segment is expected to experience rapid growth over the forecast period due to the increasing demand for efficient storage solutions. This is due to the growing need for bulk storage of goods, which cannot be shipped via traditional means such as air or road transport. Additionally, the increasing popularity of e-commerce and the need for efficient last-mile delivery are also driving growth in the segment.

Furthermore, the use of technology in logistics and warehousing is also expected to fuel the growth of the market. The use of Big Data analytics and IoT devices is expected to increase efficiency and reduce costs. Additionally, the development of autonomous vehicles and drones is also expected to r

revolutionize the sector.

Overall, the global logistics and warehousing market is expected to experience strong growth over the forecast period. The increasing demand for efficient transportation and storage solutions, driven by the e-commerce sector, is expected to be the main factor driving growth in the industry.