Latin America Transportation and Logistics Market Share, Growth, Size, Emerging Trends, Revenue, Scope, Business Challenges and Opportunities and Future Competition till 2033: SPER Market Research
Freight and logistics refer to the processes of transferring products and commodities via rail, trucks, road vehicles, and huge boats carrying containers and aeroplanes. It provides contract logistics, warehousing, value-added services, and organises and executes advanced integrated logistics solutions for complex worldwide supply chains. The rise in trade-related agreements and global logistics infrastructure, as well as technology developments in the logistics industry for speedy delivery and supply chain, are propelling the Freight and Logistics Market forward.
According to SPER market research, ‘Latin America Freight and Logistics Market Size- By Type, By Mode of Transportation, By Service, By End-Use Industry – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Latin America Logistics Market is predicted to reach USD 1137.54 Billion by 2033 with a CAGR of 6.4%.
Startups in the Latin American logistics market are embracing technologies like artificial intelligence (AI), big data, machine learning, and the Internet of Things (IoT) to help the industry grow. Furthermore, the majority of organisations in the Latin American logistics market are implementing new technical improvements to improve operational efficiency. Furthermore, the fast-developing business-to-consumer (B2C) e-commerce sector, along with a robust business-to-business market, has fuelled the demand for modernised logistics and shipping solutions in the Latin American logistics market.
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The development of the e-commerce business, combined with an increase in reverse logistics activities, drives market growth. In addition, the increased use of information technology (IT) and technological innovation systems such as IoT, artificial intelligence (AI), and machine learning are likely to boost market expansion. Furthermore, the emergence of last mile delivery, combined with logistics automation, is one of the reasons that are expected to drive market expansion.
However, high shipping costs combined with insufficient infrastructure impede industry expansion. Also, cargo theft is a global issue with serious consequences for supply chains and the global economy, affecting industries such as shipping, logistics, retail, and insurance. Direct thefts, burglaries, computer fraud, hijackings, and piracy are some of the most common types of theft, with food and beverages being the most stolen.
Also, reliance on third-party logistics (3PL) providers might jeopardise market growth because firms may suffer service reliability and cost issues, prompting some corporations to reevaluate their reliance on 3PL operators.
Impact of COVID-19 on Latin America Freight and Logistics Market
COVID Impact: The COVID-19 outbreak has impacted a variety of sectors around the world. It has caused the closure or suspension of production activity in the majority of industrial units around the world. The COVID-19 epidemic is having a massive impact on businesses like as aviation, automotive, manufacturing, and food and beverage, all of which have a substantial impact on the logistics industry.
Brazil generated the most revenue in the Latin America logistics market over the projection period, followed by Mexico, Argentina, and others. Furthermore, Costa Rica is predicted to experience the fastest growth rate as a result of increased trading activity brought about by globalisation. This points to attractive opportunities for logistics services in Latin America.
Latin America Freight and Logistics Market Key Players:
Additionally, some of the market key players are A.P. Moller–Maersk, C.H. Robinson Worldwide Inc., DB Schenker, Deutsche Post AG (DHL Group), DSV, FedEx, Geodis, Kuehne+Nagel, Others.
For More Information, refer to below link: –
Latin America Third Party Logistics Market Future Outlook
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