The size of the global logistics industry will increase USD 357.5 billion between 2017-2022, accelerating at a CAGR of more than 7% during the forecast period. This growth in market size will be attributed to the rapid growth in the e-commerce industry, fueled by increased penetration of high-speed internet and a rise in popularity towards online shopping. Growing consumer preferences for online shopping helped e-commerce sales surpass USD 2 trillion in 2017. The digitization of the logistics industry will also have a significant influence on market growth. With technological advancements, the market will also witness an increased preference for logistics automation. The adoption of self-driving vehicles will transform the logistics industry fueling the demand for digital logistics. As the e-commerce industry continues to grow, so too will the demand for logistics services, which will act as a steady driving force for the logistics industry over the next few years.
The Asia-Pacific (APAC) currently accounts for the largest regional logistics market share and will continue to grow at a strong pace through 2021. Primary growth factors for the logistics market in APAC include a growing middle-class population, rising disposable income, and increasing adoption of the Internet and mobile services, all of which are contributing to the significant growth of the region's e-commerce sales. Due to these factors, the logistics market in APAC is expected to grow at a CAGR of over 13% during the forecast period.
Within our logistics industry research, we provide deep insights into the logistics market landscape, its segments, and their market share. Our research experts segment this market by logistics market models, logistics services, logistics by mode of transportation, service nodes, and logistics technology and equipment.
Due to the rising growth of the e-commerce industry, the need for parcel services is in high demand. Many e-commerce companies prefer third-party logistics (3PL) service providers for a more cost-effective and streamlined supply chain management. 3PL market growth is expected to remain steady over the next few years in many major regions across the globe including the United States, Europe, and China. The market is also gaining traction in Brazil, where the number of online retail transactions exceeded USD 100 million in 2016. The 3PL market in Brazil holds enticing opportunities for market players as sales of mobile devices and textile industry related sales are expected to increase through 2021, further increasing the demand for 3PL services.
Global goods trade increased in volume by 4.7% in 2017, according to the World Trade Organization (WTO). This rise in trade is a primary factor currently driving rail logistics market growth as businesses are choosing railways as their preferred mode of transportation for their goods. Rail logistics offer numerous benefits including higher fuel efficiency, the ability to carry a high capacity of goods, and low transport charges in comparison to road transportation costs. Rail logistics services are also rarely affected by weather conditions.
Logistics robots offer a high rate of ROI when compared to traditional systems such as forklifts used in both manufacturing and non-manufacturing environments. Logistics robots also reduce the cost of equipment, components, and offer lower costs and time required for integration. These are just some of the advantages provided to e-commerce market players by switching over to automation and robotization. These factors will continue to be the primary growth drivers for logistics robotics market over the next few years.
Our logistics industry analysis also offers a detailed outlook for various end-user sectors.
With our comprehensive understanding of the logistics industry, we have been monitoring the latest industry trends and developments to create an in-depth portfolio of logistics market reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our logistics market reports offer the following insights: