Manufacturing Logistics Market Size

Manufacturing Logistics Market Size

Manufacturing Logistics Market size was valued at USD 149.6 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 and 2032. The market for manufacturing logistics is mostly driven by the growth of global trade networks. As more companies execute business internationally, there is an increased demand for efficient logistics services to manage customs procedures and cross-border transportation. In addition, the industry is expanding due to the broad diversification of services, which includes advanced supply chain management systems, warehousing, and conventional transportation.

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For instance, the UK government collaborated with Amazon Marketplace, where buyers from other countries may find a variety of products from small UK companies and well-known British brands. In addition, the market is expanding due to the growing need for advanced logistics solutions and proficiency in global logistics management. Furthermore, there is an increased demand for adaptable and resilient supply chain solutions due to the volatility of global markets, which includes changes in fuel prices, trade disputes, and currency exchange rates.
 

The logistics sector has experienced a change due to the incorporation of technologies like blockchain, IoT, and artificial intelligence. In supply chain management, these technologies increase transparency, reduce expenses, and increase efficiency. However, the manufacturing logistic market is anticipated to grow because of the increasing use of sensors and radio frequency identification (RFID) tags to provide real-time data on the location and condition of items, enabling more efficient tracking and inventory management.
 

Manufacturing logistics experts often struggle with how to balance inventory levels to meet demand without either overstocking or understocking. Ineffective inventory management can result in higher storage expenses, obsolescence, stockouts, and eventually, client dissatisfaction. Furthermore, in logistics, transportation is a major source of costs. Transportation network capacity limitations, traffic jams, and rising fuel prices can all increase expenses and cause delays. For timely delivery and economic effectiveness, routes and modes of transportation (such as air, sea, rail, and road) must be optimized.