| Label | USD Billion |
|---|---|
| 2018 | 118.52657529206178 USD Billion |
| 2019 | 125.70319194331188 USD Billion |
| 2020 | 114.62190235726338 USD Billion |
| 2021 | 125.04106941414524 USD Billion |
| 2022 | 133.07646557240545 USD Billion |
| 2023 | 143.27353165406032 USD Billion |
| 2024 | 150.8713572897624 USD Billion |
| 2025 | 159.3120900889752 USD Billion |
| 2026 | 167.71422044782437 USD Billion |
| 2027 | 176.23360374667487 USD Billion |
| 2028 | 187.28009937263244 USD Billion |
| 2029 | 192.80825231265035 USD Billion |
| 2030 | 203.5396862826965 USD Billion |
| 2031 | 217.23095470399969 USD Billion |
| 2032 | 235.0891807323407 USD Billion |
Data Source: Wantstats Repository
Market Dynamics
GCC logistics market outlook for 2018-2032 is largely characterised by the adoption of advanced technologies, investment in infrastructure, an increase in global trade flows, and progressive regulatory policies. The introduction of disruptive technologies such as artificial intelligence, blockchain, and robotics, are the biggest boost to the market's long-term growth. Companies such as Kontrolit, a UAE-based automated intelligent warehouse startup, and Logistics Powered Solutions, a Saudi Arabia based AI logistics company, are on the forefront of these technological advancements. They are deploying solutions to improve operational efficiencies, reduce errors, optimize cost savings, and increase customer satisfaction. The strategic investments by the governments of countries like UAE, Qatar, and Saudi Arabia, to improve their infrastructure, have been catalyzing the growth in the logistics market. For instance, Qatari government, for Expo 2020 being held in Doha, is making significant investments in public transport, road network, and transport infrastructure. Similarly, maritime infrastructure is being developed in many countries like UAE and Oman.The increasing global trade flows are expected to be majorly contributing to the market growth. According to the World Trade Organization, global trade increased by 4.7% in 2017.
Integration among the GCC countries has led to rising international trade as products from one of the countries in GCC are being exported to other countries in the bloc.The regulators in the region have also eased their policies which are expected to drive up logistics services demand them. For example, the UAE's National Transport Authority, has enabled the e-freight services across the region in an effort to foster regional trade and create a more efficient transport system. In conclusion, the outlook for the GCC logistics market is quite positive, given the number of advancements in technology, investment in infrastructure, growth in global trade flows, and progressive regulatory policies.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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