IMARC Group released a new report – “UK Logistics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027.” As per the report, during 2022-2027, a 6.28% CAGR is predicted for the UK logistics market.
The broad process of planning, executing, organizing resources, and managing the goods’ flow from origin to consumption points is referred to as logistics. They can be categorized into different models including second-party (2PL), third-party (3PL), fourth-party (4PL), green, reverse, and digital logistics. Also, the overall process comprises multiple functions such as packaging, warehousing, inventory management, security, material handling, inbound and outbound transportation, information integration, supply and demand planning for third-party providers, etc.
Logistics services make transporting and storing intangible goods, equipment, liquids, and food products extremely cost-efficient. These also assist in operational cost optimization, supply chain process streamlining, profit-boosting, customer experience enhancement, and better efficiency.
As a result, they find a wide range of applications across various fields. In the UK, logistics is used in manufacturing, IT, hardware, retail, food and beverages, consumer goods, construction, automotive, healthcare, chemicals, and telecom among others.
UK Logistics Market Trends and Drivers:
The UK logistics market is primarily driven by the expanding e-commerce sector and changing customer preferences toward online buying. Another key factor for growth is the growing need for reverse logistics activities. These include return and refund policies that numerous e-commerce platforms provide with flexible tracking options.
In addition, the integration of IoT-enabled connected devices and logistics services driven by technology is also having a positive impact on the market across the nation. This integration helps with object monitoring and remote control of transport process components.
Additionally, over the period, the UK logistics market is anticipated to be driven by the emerging trend of green logistics. This trend ensures sustainability with the increasing use of drone delivery, Bluetooth, radio frequency identification (RFID), and driverless vehicles. The rising demand for secure and refrigerated transportation will also likely propel the market.
Competitive Analysis and Segmentation of the UK Logistics Market 2022-2027:
Competitive Landscape:
The report has also examined the industry’s competitive landscape along with the key players’ profiles.
In the report, the transportation mode, model type, and end-use are used to segment the market.
By model type, the market is divided into 2 PL, 3 PL, and 4 PL. By transportation mode, the segments include roadways, seaways, railways, and airways. By end use, the segments are manufacturing, retail, food and beverages, healthcare, consumer goods, IT Hardware, automotive, telecom, chemicals, oil and gas, construction, and others. By region, the market is segmented into Yorkshire and the Humber, North West England, East of England, West Midlands, South West England, East Midlands, South East England, Greater London, North East England, and others.
Note: COVID-19’s direct impact on the market is regularly tracked along with the indirect influence of associated industries. The report might integrate these observations later.