The latest report by IMARC Group, titled “India Logistics Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The India logistics market size reached US$ 259.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 432.4 Billion by 2028, exhibiting a growth rate (CAGR) of 8.8% during 2023-2028.
Logistics refers to the process of planning, implementing, coordinating and managing the flow of resources from origin to the final destination. It includes tasks, such as warehouse and fleet management, order processing, inventory control, supply and demand forecasting, and the management of transports, storage facilities, and distribution centers. It assists in transporting large volumes of products and prevents their breakage and spillage. It also aids in monitoring and tracking information on space utilization, order requests, and work schedules. Apart from this, logistics helps in choosing suppliers according to rate fluctuations, ordering pickups, recording receipts and signatures, and inventory control. It also allows enterprises to improve brand exposure with timely deliveries. At present, it is widely employed in manufacturing, consumer goods, retail, food and beverage, information technology (IT) hardware, chemicals, oil and gas, automotive, and telecom industries across India.
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India Logistics Market Trends and Drivers:
The Government of India launched the National Logistics Policy (NPC) to boost the economy of the nation and corporate competitiveness by establishing an integrated, seamless, effective, dependable, green, sustainable, and cost-efficient logistics network. The policy aims to reduce logistics costs and emphasize developing skills, competitiveness, and employment for micro, small, and medium enterprises (MSMEs). The system for rating and certifying warehouses for excellence is also creating a positive market outlook in the country. Apart from this, the introduction of advanced technologies, such as artificial intelligence (AI), augmented reality (AR), blockchain, and the internet of things (IoT) to assist in logistics monitoring, is strengthening the market growth. Moreover, the growing e-commerce sector is escalating the need to manage and oversee the supply chain to facilitate efficient marketing and other business operations. This, along with the rising emphasis on last-minute delivery options across the various industry verticals, such as pharmaceuticals and food and beverage (F&B), is propelling the market growth in India.
Furthermore, the advent of driverless vehicles, drones and robots for performing different intralogistics processes within the storage and warehouses facilities is strengthening the market growth. Other factors, such as increasing penetration of the high-speed internet and the rising adoption of mobile devices, including smartphones, laptops, and tablets, are supporting the growth of the market. In addition, the National Grid of Logistics Parks and Terminals is being planned for the coordinated development of intermodal facilities and for promoting multimodal logistics parks (MMLPs) as a separate class of infrastructure. This will ensure optimal utilization of warehousing and formulate guidelines and standards for warehousing, which will facilitate the growth of the market in India.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Model Type:
2 PL
3 PL
4 PL
Breakup by Transportation Mode:
Roadways
Seaways
Railways
Airways
Breakup by End-Use:
Manufacturing
Consumer Goods
Retail
Food and Beverages
IT Hardware
Healthcare
Chemicals
Construction
Automotive
Telecom
Oil and Gas
Others
Breakup by Region:
North India
West and Central India
South India
East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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