Originally Published on: technavio |Antiemetic Drug Market by Drug Class, Application, and Geography- Forecast and analysis - 2023-2027
"Freight Logistics Market on Growth Trajectory"
Introduction:
The freight logistics market is set to expand at a CAGR of 5.74% from 2022 to 2027, with a projected market size increase of USD 319.65 million. This growth is driven by factors such as the rise in logistics outsourcing, the manufacturing sector's expansion, and the increasing demand for efficient food, perishable, and medical supplies deliveries.
Key Drivers:
The market's growth is significantly propelled by the increasing trend of outsourcing logistics, with companies increasingly investing in digital and analytic technologies. Contract-based logistics, including third-party logistics (3PLs) and fourth-party logistics (4PLs), offer customized services, enhancing supply chain management.
Significant Trends:
An emerging trend in the freight logistics market is the growing popularity of multimodal transportation. This approach allows a single transport carrier to be responsible for moving shipments through various transportation modes, providing convenience and tracking benefits to shippers.
Major Challenges:
High infrastructure costs are a major challenge, particularly in intermodal transportation, requiring substantial investments in cranes and other equipment. The time-consuming nature of these investments can negatively impact market demand.
Key Regions:
Asia-Pacific (APAC) is expected to contribute 43% to the market's growth due to its increasing consumer base for food, healthcare products, and investment-friendly environment. The recovery of economies post-COVID-19 and the rise of e-commerce also drive the market in this region.
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