DUBLIN--(BUSINESS WIRE)--The "Singapore Freight & Logistics Market Study - Market Trends, Analysis & Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The Singapore freight & logistics market is expected to reach a market value of USD 114.81 billion by 2023.
Singapore is a major international trading hub due to its centralized position in Southeast Asia. The country is positioned as a global transshipment hub. As such, the logistics industry is expected to grow over the forecast period with continued higher contribution of logistics sector to the overall GDP of the country. Singapore Changi Airport had recorded a strong performance in 2016, with air freight throughput increasing by 6.3% to reach a new high of 1.97 million metric ton.
With the speedy growth of e-commerce in Southeast Asia, many online stores are expected to prioritize last-mile delivery services, considering it as the part of the business strategy. Because last-mile delivery service is often a company's first point attraction for its customer. Additionally, having a smooth and efficient last-mile fulfillment will enable e-commerce companies to build stronger levels of trust and brand loyalty with its rapidly expanding consumer markets.
There is trend growing among multi-nationals to elect Singapore as their regional headquarter. The country is leveraging its geocentric positioning within Southeast Asia by presenting itself as a distribution hub for the regional market. There is also an increasing focus around innovation and technology-enabled logistics solutions, due to the higher level of labor costs in Singapore and the need to keep its competitive edge against neighboring countries.
- DB Schenker
- Yusen Logistics
- C & P Holdings PTE Ltd
- YCH Group PTE Ltd
Key Topics Covered:
2. Market Overview
3. Market Dynamics
4. Singapore Freight & logistics Market Insights, by Mode of Freight Transport Forecast
5. Singapore Freight & Logistics Market Insights, by Function Forecast
6. Singapore Freight & Logistics Market Insights, by End User Forecast
7. Key Company Players
8. Investment Outlook
For more information about this report visit https://www.researchandmarkets.com/research/7gkfq8/singapore_freight?w=4
Laura Wood, Senior Manager
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Related Topics: Logistics