The everyday of logistics, freight forwarding, and customs regulations faces changes and new challenges regularly. So, looking forward into the coming year, we can prepare and expect uncertainty in the landscape of the world of logistics. Join us in this blog article for a glimpse into the future of logistics, where the Global Freight Group highlights three potential trends shaping the industry in 2024.
1. Trust as the currency of collaboration
In a world of rising demand for shipments, trust amongst logistics businesses has become ever more important. This year, the global containership fleet is projected to grow by 6.8%. In a similar trend, the overall air cargo market is expected to grow in 2024, with demand predicted to rise by 4.5% according to IATA. As demand grows and competition also increases, more than ever it’s all about who you know. The dial is shifting from being mainly price focused and more on returning to human connections. With a representative Global Freight Group member in almost every country, it’s a win-win situation and connects the world for better supply chains.
2. A digital shift in freight forwarding
As we step into the future of logistics, it’s impossible to ignore the impact of technological advancements on the industry. In the recent years and especially in 2023, AI has started to change the way day-to-day activities are done across various industries, and logistics is no exception. While digital freight forwarders faced challenges in 2023, the logistics industry can expect digitisation to standard procedures. Behind the scenes, new digital tools will be a key part of preparing freight forwarders’ to being able to respond to crises – a hugely important aspect in the rise of natural disasters, global tensions, and supply chain breakdowns.
3. Sustainability as more of a priority in transport
As we head closer and closer to the 2050 timeframe, businesses will be making changes to their sustainability choices and taking efforts to minimise their impact on our environment. Plus, with droughts, hurricanes and wildfires being more of a common occurrence, freight forwarder’s supply chains need to be more adaptive. For instance, 2023 saw many low water levels which impacted the Panama Canal, as well as the Yangtze River in Chine, and the Rhine in inland Europe. This coming year will be a milestone for minimising carbon emissions in the transport and logistics sector all round.
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