The inbound logistics market has seen strong growth in recent years. It is expected to grow from $1,462.52 billion in 2023 to $1,591.91 billion in 2024 at a CAGR of 8.8%. Growth is attributed to increased e-commerce demand, improvements in inventory management, a greater focus on cost efficiency, the growth of manufacturing industries, and changes in trade regulations.
The inbound logistics market is projected to grow strongly, reaching $2,242.25 billion by 2028, with a CAGR of 8.9%. Growth is driven by the adoption of sustainable logistics practices, the use of blockchain technology, increasing demand for real-time tracking, global trade expansion, and the development of smart infrastructure and IoT solutions. Trends include the use of automation, real-time tracking, predictive analytics, and flexible logistics networks.
Major Driver In The Inbound Logistics Market
The expansion of global trade is expected to drive the growth of the inbound logistics market. Global trade, involving the exchange of goods and services among countries, is expanding due to enhanced international cooperation, technological advancements, and increased demand for diverse products across borders. Inbound logistics plays a crucial role in this by ensuring efficient management of goods from suppliers to production facilities, optimizing supply chains internationally. According to a report from the United Nations Conference on Trade and Development (UNCTAD), global trade is expected to approach $32 trillion in 2024, driven by exports from China, India, and the U.S. Thus, the growth of global trade will propel the inbound logistics market, projected to reach $1.75 billion in 2023, $2.15 billion in 2024, and $3.80 billion by 2028.
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Inbound Logistics Market Competitive Landscape
Deutsche Post DHL Group, A.P. Moller - Maersk A/S, Kuehne + Nagel International AG, DSV A/S, DB Schenker Logistics, C.H. Robinson Worldwide Inc., FedEx Global Logistics Inc., Nippon Express Co. Ltd., CEVA Logistics AG, Sinotrans Limited, Ryder System Inc., Kerry Logistics Network Limited, Expeditors International of Washington Inc., XPO Logistics Inc., Toll Holdings Limited, Hellmann Worldwide Logistics SE & Co. KG, Yusen Logistics Co. Ltd., Dematic Corporation, Honeywell Intelligrated, Penske Logistics LLC, Siemens Logistics GmbH, Blue Yonder, Manhattan Associates Inc., Rhenus Logistics GmbH & Co. KG
Key Inbound Logistics Market Trend
Major companies in the inbound logistics market are advancing supply chain visibility techniques like real-time data analysis to facilitate timely decision-making. Real-time data analysis enhances visibility and accuracy by providing instant updates on shipment status and location. In November 2023, FourKites Inc. launched its Inbound Visibility Solution to improve end-to-end shipment and order-level insights across suppliers. The solution includes predictive management, disruption identification, and real-time insights, helping users manage the order lifecycle effectively.
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Global Inbound Logistics Market Segmentation
The inbound logistics market covered in this report is segmented –
1) By Function: Transportation, Warehousing, Inventory Management, Procurement, Supplier Relationship Management
2) By Mode of Transportation: Roadways, Railways, Airways, Waterways
3) By Application: Primary Inbound Logistics, Secondary Inbound Logistics, Cross-Docking
4) By End User: Retail And E-Commerce, Manufacturing, Automotive, Healthcare, Food And Beverage, Consumer Goods, Aerospace And Defense, Other End Users
By Geography:The regions covered in the inbound logistics market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the inbound logistics market in 2023.
The Inbound Logistics Global Market Report 2024 furnishes information about the global inbound logistics market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
