The Russia-Ukraine conflict has worsened global logistic bottlenecks so far this year, exacerbating inflation concerns. Furthermore, the resurgence of COVID-19 cases in China and attendant lockdowns have disrupted domestic and international logistics, increasing global transportation costs. However, demand for consumer goods remains strong, boosting the demand for logistics services globally.
The need to increase international trade and rapid technological advancements are projected to drive the logistics sector's long-term growth. According to Research and Markets, the global logistics market is estimated to grow at a 4.7% CAGR from 2022 to 2027.
