Asia Pacific Logistics Market

Rising use of blockchain with logistics is driving the market growth

The Asia Pacific Logistics market CAGR is expanding due to the growing utilization of blockchain with logistics. Blockchain technology includes encrypted information and a pointer for the previous block; this makes it difficult to change the data without modifying the whole chain. It stores the record of stakeholders in the process and the specific details of the products related to each movement as the blocks are linked together. It improves security as each transaction is recorded and validated by an independent third party.

Vendors providing logistics and transport services are partnering with technology providers in order to generate platforms that can raise security and transparency in the logistics industry because of the different benefits of blockchain technology. Additionally, this technology also enhances the efficiency of business operations in the trucking industry by minimizing the requirements to check business transactions and enhancing visibility by making sure that capacity planning operates smoothly, which can contribute to APAC logistics on a large scale. These factors initiate the adoption of blockchain technology in the region's transportation and logistics industry, thereby boosting market growth.

Furthermore, the rising trade between India and China countries will fuel the growth of the market due to the fast growth in trade between both developing countries. The air cargo segment has greater advantages; its smooth growth depends on several external factors like political support, a flexible supply chain, and broadened productivity through technological diffusion. Hence, it increases the trade between these two countries and boosts market growth.

Furthermore, the rising costs and carbon emission & pollution levels have increased the adoption of IoT-enabled connected logistics solutions integrated with cloud technology, sensors, & IoT for monitoring and remote management, improving the efficiency of the supply chain platform for the logistics & transportation industry. Thus driving the Logistics market revenue.

The ADB has reliably continued to assist Pacific DMCs (Developing Member Countries) in promoting connectivity with active engagement in planning, building and keeping such infrastructures. In the Pacific region, Transport projects alone constitute more than 59% of the total ADB portfolio. Such support by the ADB is enhancing reliable and sustainable growth in the Pacific. In the future, investments by ADB in the transport sector of the Pacific are forecasted to exceed USD 1.6 billion with 22 projects scheduled for financing within the period 2022-2024 with a notable amount of 115 million hitting in co-financing In the future,

Leading market players are investing heavily in research and development in order to broaden their product lines, which will help the Logistics market grow even more. Market players are also undertaking various strategic activities to broaden their footprint, with important market developments including contractual agreements, mergers and acquisitions, new product launches, higher investments, and collaboration with other organizations. To expand and sustain in a more competitive and rising market climate, the Logistics industry must offer cost-effective items.

Major players in the Logistics market are trying to raise market demand by investing in research and development operations, including Agility Public Warehousing Co. K.S.C.P, BCR Australia Pty Ltd., C H Robinson Worldwide Inc., CJ CheilJedang Corp., CMA CGM SA Group, FedEx Corp., Hellmann Worldwide Logistics SE and Co KG, Hitachi Ltd., Japan Post Holdings Co. Ltd.