31+ Logistics Industry Statistics You Need To Know in 2024

Hello there! Welcome to the WarehouseWiz deep dive into the dynamic world of logistics, the lifeblood of our global economy. In this article, we're going to explore some of the most crucial statistics that are shaping the logistics industry in 2024. These handpicked numbers, sourced from reliable reports and gated white papers, offer a comprehensive view of everything from warehouse counts and employment trends to market size and technological advancements.

Whether you're a seasoned logistics professional, a business leader, an investor, or just someone with a curious mind, these insights are for you. So, are you ready to delve into these fascinating logistics industry statistics? Let's get started!

We've broken down the logistics statistics into the following categories:

Warehouse Count and Distribution

• In 2020, there were approximately 151,000 warehouses all across the globe. 25,500 of these were located in North America. But because of the e-commerce boom, the global number is expected to reach 180,000 by 2025. (Statista)
• The general warehouse segment holds the largest market share, comprising approximately 70% of all major warehouse types. (Technavio)
• The number of warehouses worldwide is expected to reach 150.6k by 2025. (Statista)
• There are 14,302 logistics companies in the US as of 2022. This is an increase of 1.4% from 2021. (Warehousing and Fulfillment)
• The states with the highest numbers of logistics businesses in the US are California (2,939), Texas (2,239), and Florida (1,661). (Warehousing and Fulfillment)
  
• As of 2023, the United States has 19,439 businesses operating in the public storage and warehousing sector. This is an increase of 1.2% from 2022. (IBISWorld)

Related: Warehouse Industry Statistics / 3PL Industry Statistics / Warehouse Automation Statistics

Employment and Labor Trends

• Over the last 10 years, the number of employees in the warehousing & storage industry has almost tripled in the US. In 2013, the US Bureau of Labor Statistics reported 707,000 employees. In 2023, that number went up to 1,933,000. (Bureau of Labor Statistics)
• For the first time in a decade, the growth of the number of employees in the warehousing industry in the US is coming to a halt. Except for early 2020 and a few minor blips, the number of employees in this industry has never been stagnant for more than 1 month.
  However, since July of 2022, we’re seeing a consistent decline every month until March 2023. The biggest drop was in November 2022, where there was a loss of 13,600 (0.7%) employees in just one month. (Bureau of Labor Statistics)
  
• In the Transportation & Warehousing Industry, 74% of workers are male. (Data USA)
• 56% of 3PLs and 78% of shippers said labor shortages impacted their supply chain operations in 2022. (3PL Study)
• The trucking industry is facing a significant shortage of drivers, which has reached an all-time high of 80,000. This shortage is especially acute in the longer-haul, for-hire truckload market. This shortage can lead to supply chain disruptions and increased costs for shippers and 3PLs who rely on trucking as a mode of transportation. (3PL Study)
• The US trucking industry needs to attract more maintenance technicians, with over 28,000 openings expected in the next ten years according to the US Bureau of Labor Statistics. (3PL Study)
• 88% of industry leaders are actively recruiting supply chain professionals with analytics expertise and cross-functional experience, and 83% recruit those with global experience. (G2)
• 54% of organizations are increasing supply chain and technical training to retain laborers and develop a career path for valued employees. (G2)

Industry Growth and Market Size

• The Logistics Industry market size in 2022 is estimated to be at $212 billion USD in terms of revenue. Over the past five years, the market size of the logistics industry in the US increased faster than the economy overall. (IBISWorld)
• In the past 5 years (2018 to 2023), the market size of the Third-Party Logistics (3PL) industry in the US has grown 2.3% per year on average. (IBISWorld)
• In 2021, the global logistics industry was valued at 8.4 trillion U.S. dollars, and it is anticipated to surpass 13.7 trillion U.S. dollars by 2027. (Statista)
• As of 2021, the global third-party logistics (3PL) market had a valuation of $1.3 trillion, and it is forecast to grow at a compound annual growth rate (CAGR) of 8.8% from 2022 to 2031, ultimately reaching a value of $2.8 trillion. (Allied Market Research)
  

Operational Efficiency and Technology

• The number of SKUs in a warehouse can impact its efficiency, with higher SKU counts leading to increased difficulty in managing inventory. (WERC)
• 59% of warehouses report that they utilize more than 90% of their space, and 28% report that they utilize between 80% and 89%. (Extensiv)
• By 2025, an estimated 4 million commercial warehouse robots will be installed in over 50,000 warehouses. (G2)
• 38% of US companies are planning to add more SKUs and barcode scanners for inventory accuracy. (G2)
• The impact of robotics on logistics until 2025 will increase productivity by between 25% and 70% and a reduction of logistics costs by between 20% and 40%. (G2)
• 89% of distribution centers are currently using racks and shelving, while 85% rely on forklifts. (G2)
• Technological advancements such as artificial intelligence and the internet of things are making automation technology more sophisticated and accessible, driving its adoption in warehouses. (MMH)

Cost, Investment, and Real Estate

• 87% of decision-makers in the warehousing industry report that they are in the process of planning the extension of their warehouses by 2024. (G2)
• The average size of a warehouse is 181,370 sq ft. There’s a continuing trend where the average warehouse size is increasing every year. (G2)
• Labor costs take around 50% to 70% of a company's warehousing budget, making it the highest operating cost in a warehouse. (G2)
• According to a recent report from CBRE, warehouse rents in certain areas of the United States surged by 20% from the fourth quarter of 2021 to the first quarter of 2022, reaching a little over $12 per square foot. (Business Insider)

References

• https://www.statista.com/statistics/1223289/warehouses-worldwide-region/
• https://data.bls.gov/timeseries/CES4349300001
• https://datausa.io/profile/naics/transportation-warehousing
• https://werc.org/store/viewproduct.aspx?id=20177565
• https://analysis.technavio.org/warehouse-market-analysis-research
• https://www.ibisworld.com/industry-statistics/market-size/third-party-logistics-united-states/
• https://www.statista.com/statistics/943517/logistics-industry-global-cagr/
• https://www.alliedmarketresearch.com/3PL-market
• https://www.extensiv.com/resource-library/report/2022-third-party-logistics-warehouse-benchmark-report
• https://www.3plstudy.com/ntt3pl/nttds_3pl.nttds_prior
• https://www.g2.com/articles/warehouse-automation-statistics
• https://www.warehousingandfulfillment.com/warehousing-and-fulfillment-resources/112-warehouse-3pl-fulfillment-ecommerce-shipping-and-package-delivery-statistics/
• https://www.ibisworld.com/industry-statistics/number-of-businesses/public-storage-warehousing-united-states/
• https://www.mmh.com/article/mhi_and_deloitte_launch_2023_annual_industry_report_survey
• https://www.statista.com/topics/8741/warehouse-automation-market-worldwide/
• https://www.businessinsider.com/warehouse-rents-are-rising-amazon-industrial-real-estate-2022-4