The global logistics market is expected to generate over $16.79 trillion by 2032.

According to a recent report from Allied Market Research, the global logistics industry generated over $9.83 trillion in 2022, meaning the sector will experience a compound annual growth rate (CAGR) of 5.6% from 2023 to 2032.

Growth within the global logistics sector will be fueled by the expansion of the e-commerce industry, increased reverse logistics operations and more trade-related agreements. Other elements that will aid the sector’s expansion include an increase in tech-driven logistics services, greater adoption of IoT-enabled connected devices, the emergence of last mile deliveries, logistics automation and the implementation of multi-modal systems to cut costs and reduce lead times.

A lack of control over manufacturers using logistics services, poor infrastructure and higher costs are all factors that could hinder the market’s growth.

The report analyzed the logistics market across 17 countries, including a segmented review of each country’s logistics sector for the projected period of 2023 to 2032. More than 200 logistics professionals were interviewed from April 2023 to June 2023 for the study.