Latin America Logistics Market : Opportunity Analysis and Industry Forecast, 2020-2027

According to a recent report published by Allied Market Research, titled, “Latin America Logistics Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, End Use and Mode Of Transport : Opportunity Analysis and Industry Forecast, 2020-2027".

The market size of Latin America logistics industry was valued at $ $542.40 billion in 2019, and is projected to reach $784.60 billion by 2027, registering a CAGR of 6.2% from 2020 to 2027. In 2019, based on country, Brazil garnered the highest share in the Latin America logistics market.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/7550

At present, Brazil dominates in the Latin America logistics market, followed by Mexico, Argentina, Colombia, and others. Whereas Costa Rica and Panama are expected to grow at a significant growth rate in Latin America during the forecast period.

According to the report by the American Society of International Law, it takes around 32 days to import the goods into Latin America, out of which, around 28 days are required for sorting of materials through in-country customs and customs brokers. As a result, customs costs and inventory buildups can become excessively high, leaving the consumer frustrated as the package takes too long to deliver. Companies operating in the logistics industry are adopting various technologies to efficiently carry out the logistics operations. For instance, Logiety, a technology company in Mexico is using machine learning technology with a focus to streamline the taxing and international customs by sorting and classifying the products for import and export by size, material, and weight.

The players operating in the Latin America logistics market are already outsourcing delivery and logistics services to the third parties. However, these companies are not particularly reliable or efficient. In addition, lack of reliability and transparency has hindered the B2C e-commerce growth, which in turn is impacting the logistics industry in Latin America. Companies in the logistics industry are adopting various technologies for customers to track their package in real time. For instance, Chazki, a Peru-based startup has developed a platform that allows the customers to track their goods in real time with the help of mobile application, and becoming the pioneer in Latin America for same day delivery. In addition, GuruCargo, a Uruguay-based startup has created an online platform that aggregates the cost of cargo shipping transparently, which in turns enables freight companies to cross-reference price quotes. Further, GuruCargo has become one of the top references in Latin America for shipping costs. The importers from all over the world are using this online platform to make sure if they are getting right price for the shipments.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/latin-america-logistics-market/purchase-options

The logistics market is mainly driven by increasing exports and warehousing activities in the agricultural sector. In addition, rising demand for cold chain logistics and intra-logistics services is expected to drive the Latin America logistics market. For instance, United Parcel Service (UPS), a logistics company, opened up a new, 76,000 square-foot, Bogtota, Colombia-based healthcare facility. This facility is geared toward helping pharmaceutical, biopharma, and medical device companies with their supply chains and in tratransport.

The facility comprises state-of-the-art technology for storing temperature-sensitive healthcare products and offers best-in-class distribution services and warehouse management. Also, FedEx Logistics acquired Colombia-based freight forwarding company Cargex that specializes in export management of perishable goods, which in turn is anticipated to propel the market growth in Colombia.

Factors such as growing adoption of IoT enabled connected devices and increasing adoption of tech-driven logistics services fuel the growth of the Latin America logistics market. In addition, development of the e-commerce industry and increase in reverse logistics operations boost the market growth. However, lack of control of manufacturers on logistics services hinders the growth of the market. In addition, poor infrastructure and higher logistics costs restricts the growth of the market. On the contrary, Emergence of last mile deliveries coupled with logistics automation and rising use of information technologies solutions are anticipated to provide remarkable growth opportunities for the players operating in Latin America logistics market share.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :

A.P. Moller–Maersk,

C.H. Robinson Worldwide, Inc.,

DB Schenker,

Deutsche Post AG (DHL Group),

DSV,

FedEx,

Geodis,

Kuehne+Nagel,

Supply Chain Solutions

United Parcel Service, Inc.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/7550

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

On the basis of type, the cash logistics segment is anticipated to exhibit remarkable growth rate during the forecast period.

By end use, the manufacturing segment has the highest Latin America logistics market share and is anticipated to maintain its lead during the forecast period.

By mode of transport, the airways segment is anticipated to grow at the highest CAGR in the near future.

Based on country, Costa Rica is anticipated to exhibit remarkable growth rate during the forecast period.

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :

𝐖𝐚𝐫𝐞𝐡𝐨𝐮𝐬𝐢𝐧𝐠 𝐚𝐧𝐝 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 :

https://www.prnewswire.com/news-releases/warehousing-and-distribution-logistics-market-to-reach-25-788-7-billion-globally-by-2031-at-7-7-cagr-allied-market-research-301643062.html

𝐅𝐨𝐮𝐫𝐭𝐡 𝐏𝐚𝐫𝐭𝐲 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 :

https://www.prnewswire.com/news-releases/fourth-party-logistics-4pl-market-to-reach-111-7-billion-globally-by-2031-at-6-7-cagr-allied-market-research-301605186.html

𝐆𝐫𝐞𝐞𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 :

https://www.prnewswire.com/news-releases/green-logistics-market-to-reach-2-9-trillion-globally-by-2032-at-8-3-cagr-allied-market-research-301868790.html