Posted on March 28, 2022.

“The global logistics industry is at a crucial point in its development”, according to a new report.

The international freight forwarding sector is facing a series of new challenges, which only the most adaptable companies will be able to meet, says the report from Transport Intelligence (Ti).

“The global economic environment has remained volatile and difficult to anticipate,” it points out, adding that doubts have also been cast over the sustainability of globalisation, the bedrock of logistics.

Nevertheless, it is a sector worth sticking with, it believes.

In 2017, the size of the market was some $5trn, with road freight taking the lion’s share of about one-third of the total spend. Contract logistics accounted for nearly another third, global parcels accounted for 6% and rail freight took 4%.

But the report adds: “Perhaps surprisingly, the air freight and containerised sea freight sectors, allied with associated forwarding operations, also [combined] only account for approximately 4% of global spend.”

Original Post: https://theloadstar.com/end-business-usual-logistics-digitisation-disrupters-arrive/