Latin America logistics Market Set to Soar to $784.60 Billion by 2027

The report offers a comprehensive analysis of changing market dynamics, key winning strategies, top investment pockets, major segments, and competitive scenario

WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 17, 2024 /EINPresswire.com/ -- The 𝐋𝐚𝐭𝐢𝐧 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐥𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 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. The Latin America logistics Market report offers a comprehensive analysis of changing market dynamics, key winning strategies, top investment pockets, major segments, and competitive scenario. Rise in technologically driven logistics services, surge in IoT-enabled connected devices adoption, and development of the e-commerce market propel the growth of the Latin America logistics market. However, lack of required infrastructure, high cost of logistics, and lack of firm control of manufacturers on logistics services hinder the market growth. Contrarily, rise in usage of information technologies (IT) solutions & software and emergence of last mile delivery services would offer new opportunities for the market players in the coming years.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 308 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A07185

By type, the logistics segment accounted for the highest share in 2019, contributing to more than four-fifths of the total market share, and will maintain its leadership status throughout the forecast period. However, the cash logistics segment is expected to witness the largest CAGR of 10.1% from 2020 to 2027.

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 intratransport. 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.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/latin-america-logistics-market/purchase-options

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.

By country, Brazil held highest market share in 2019, accounting for nearly two-fifths of the total market share, and is estimated to continue its dominance in terms of revenue by 2027. However, Costa Rica is expected to witness the highest CAGR of 15.3% from 2020 to 2027.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A07185

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. 

Based on end use, the cash management segment is projected to register the highest CAGR of 11.4% during the forecast period. However, the manufacturing segment contributed to the highest share in terms of revenue in 2019, holding nearly one-fourth of the Latin America logistics market, and will maintain its lead throughout the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A07185

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐃𝐄𝐔𝐓𝐒𝐂𝐇𝐄 𝐏𝐎𝐒𝐓 𝐀𝐆 (𝐃𝐇𝐋 𝐆𝐑𝐎𝐔𝐏), 𝐀.𝐏. 𝐌𝐎𝐋𝐋𝐄𝐑 - 𝐌𝐀𝐄𝐑𝐒𝐊, 𝐊𝐔𝐄𝐇𝐍𝐄+𝐍𝐀𝐆𝐄𝐋, 𝐒𝐔𝐏𝐏𝐋𝐘 𝐂𝐇𝐀𝐈𝐍 𝐒𝐎𝐋𝐔𝐓𝐈𝐎𝐍𝐒, 𝐆𝐄𝐎𝐃𝐈𝐒, 𝐃𝐁 𝐒𝐂𝐇𝐄𝐍𝐊𝐄𝐑 (𝐃𝐁 𝐆𝐑𝐎𝐔𝐏), 𝐂.𝐇. 𝐑𝐎𝐁𝐈𝐍𝐒𝐎𝐍 𝐖𝐎𝐑𝐋𝐃𝐖𝐈𝐃𝐄, 𝐈𝐍𝐂., 𝐃𝐒𝐕, 𝐅𝐄𝐃𝐄𝐗, 𝐔𝐍𝐈𝐓𝐄𝐃 𝐏𝐀𝐑𝐂𝐄𝐋 𝐒𝐄𝐑𝐕𝐈𝐂𝐄, 𝐈𝐍𝐂. (𝐔𝐏𝐒)

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.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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