PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1544564
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1544564
Global Manufacturing Logistics Market will witness a 9% CAGR from 2024 to 2032, driven by the positive outlook of the manufacturing sector. According to IBEF, India's merchandise exports for FY24 totaled US$ 437.06 billion, a decline from US$ 451.07 billion in the previous fiscal year. However, the country's manufacturing sector is on track to hit US$ 1 trillion by 2025-26, driven by investments in the automotive, electronics, and textile industries.
As production scales up, the demand for efficient logistics solutions intensifies, requiring robust systems for transportation, warehousing, and supply chain management. Increased production volumes lead to more complex logistics needs, driving investments in advanced logistics technologies and services. The expansion of manufacturing facilities and global supply chains further amplifies the need for specialized logistics solutions, contributing to the overall growth of the manufacturing logistics market.
The overall manufacturing logistics industry is segregated based on Services, Transportation, Technology, Industry, and Region.
The IoT segment is poised for substantial growth over the forecast period. IoT-enabled solutions enhance visibility, real-time tracking, and predictive maintenance, streamlining logistics operations and improving efficiency. IoT technologies offer advanced analytics and automation capabilities, optimizing inventory management, reducing operational costs, and mitigating risks. As manufacturers increasingly adopt IoT for its data-driven insights and enhanced operational control, the market for IoT in manufacturing logistics is set to expand significantly.
In the aerospace industry, the manufacturing logistics market is experiencing notable advancements. Aerospace manufacturers are focusing on improving supply chain management to support the production of complex components and assemblies. This sector's growth is fueled by rising demand for advanced aircraft and the need for streamlined logistics processes. Aerospace manufacturers are leveraging logistics solutions to handle intricate supply chains, ensuring timely delivery and maintaining high quality and safety standards. The growing complexity of aerospace manufacturing is driving the adoption of sophisticated logistics solutions tailored to meet industry-specific requirements.
North America is expected to be a leading region in the manufacturing logistics market throughout 2024-2032. The region boasts a well-established infrastructure, technological innovation, and a robust manufacturing base. Significant investments in advanced logistics technologies and the presence of leading logistics providers contribute to market growth. North America's strong focus on enhancing supply chain efficiency, coupled with increasing demand for integrated logistics solutions, supports the expansion of the manufacturing logistics sector. The region's strategic initiatives and technological advancements further bolster its position as a key player in the global manufacturing logistics market.