Logistics industry conveyor systems

It involves the integration of transport, warehousing, materials handling, packaging, inventory management, supply chain management, procurement, shipping security, and freight forwarding.

Key players include third party logistics (3PLs) providers, shipping & freight companies, warehouse & distribution center operators, courier & postal services, procurement & transportation management tech companies.

It provides critical infrastructure and services to facilitate domestic and international trade between businesses, suppliers, distributors, retailers and end consumers. Almost every product relies on logistics in some form.

Trends shaping the industry are automation, big data & predictive analytics, sustainability initiatives and digital transformation around blockchain, IoT, cloud platforms etc.

The global logistics market size was valued at $9,833.8 billion in 2022 and is projected to reach $16,794.7 billion by 2032, growing at a CAGR of 5.6%.

This growth is driven by factors such as the growing e-commerce industry, the rise in reverse logistics operations, and the growing adoption of IoT-enabled connected devices.

In the U.S., over 9 million people are directly dependent on the logistics industry as their main source of income.

Each year, 300,000 new logistics-related jobs are created in the U.S.

Technological advancements continue to disrupt logistics. The most significant technology trends include automation and robotics, artificial intelligence (AI) and machine learning (ML), and the Internet of Things (IoT).

There are over 53,000 merchant ships transporting goods around the world.

In the U.S., there are more than 15.5 million trucks, but only 3.5 million qualified truck drivers.

Rail freight accounts for 16% of U.S. freight shipments by weight, and there are 140,000 miles of railroad tracks in the U.S.