Freight Logistics Market size is set to grow by USD 319.65 mn from 2023-2027

The global freight logistics mark size is estimated to grow by USD 319.65 mn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of 5.74% during the forecast period.

The freight logistics market encompasses various industries, including Oil and Gas, Mining and Quarrying, Agriculture, Fishing, Forestry, FMCG, and Raw Materials. Freight Forwarding, Warehousing, and Storage, Logistic Function, Exactitude Consultancy, and alternative fuels are integral components. Advancements in Artificial intelligence, Data analytics, Warehouse management systems, Robotics, Autonomous vehicles, Tracking technologies, and Sensors are driving market growth. Convenience, customer preference, online retail networks, and green logistics solutions are key trends. Digitization and automation through AI, machine learning, and transportation of goods are transforming the industry.

The freight logistics market encompasses various sectors, including intermodal transportation, warehousing, manufacturing, automotive, oil and gas, mining, agriculture, and forestry. Significant investments are necessary for infrastructure development, such as gantry cranes, rail and road access, and tracking technologies. Robotics, autonomous vehicles, and sensors are also integral to streamlining operations and enhancing efficiency. The market further incorporates freight forwarding, logistics services, and customer preference-driven solutions, such as online retail networks and green logistics. Digitization and automation through AI, machine learning, and robotics are transforming waterways transportation, including inland waterways, rivers, canals, lakes, and coastal waters. The market's growth is driven by the increasing demand for logistics monitoring systems and the evolving transportation landscape.