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The global logistics market size was accounted for $7.98 trillion in 2022 and is expected to reach $18.23 trillion by 2030 with a noteworthy CAGR of 10.7%. The market is being driven by a shift in customer preference toward online purchases, the booming e-commerce industry, and the need for effective logistics services. Logistic companies are increasingly adopting technologies such as IoT, AI, machine learning and robotics to streamline operations, improve efficiency and reduce cost. Waterways transportation is also becoming increasingly popular due to its cost-effectiveness and high carrying capacity.
