Press release
Singapore Logistics Market is currently valued at 25 Bn SGD in 2022. Will Singapore continue this growth trajectory in future? : Ken Research
The demand in e-commerce sector in Singapore was exponential and the e commerce GMV grew from $2.5 Bn in 2019 to $6.2 Bn in 2022 this paved path for the growth of logistics market. E-commerce companies invested in new technologies and explored new ways to fulfilling the demand in the market.
Shopee was the most frequently visited e-commerce site in the fourth quarter of 2021, according to the Price group, with 16.15 Mn monthly online visitors. Shopee is followed by the Singapore-based online retailers Lazada and Amazon with 9.2 and 5.2 million visitors, respectively.
Singapore, which has a population of 5.87 million people, is a digitally literate nation with an internet penetration rate of 88.9% and a financial inclusion rate of 97.9%. Additionally, according to the Ministry of Trade and Industry, as of 2021, about 52.3% of all Singaporeans had made an online purchase, indicating an increase in the adoption of e-commerce businesses. The business services sector, which made up about 3.6% of all e-commerce trade in 2019, had the smallest share of the market.
2. Government Assistance to the Logistics Sector
Download a Free Sample Report: https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2NDY2
Singapore's announced the launch of an S$ 18 Mn Supply Chain 4.0 Initiative in 2021.
Aims to integrate more technology to assist SMEs.
Singapore launched the Singapore Trade Data Exchange (SGTraDex) in mid-2021 and facilitates the secure sharing of data between supply chain ecosystem partners through a common data highway.
The ITM is a government-led initiative aimed at driving the transformation and growth of the logistics and supply chain industry in Singapore.
The ITM aims to accelerate the adoption of digital technologies, such as automation and artificial intelligence, and to enhance the productivity and competitiveness of the sector.
The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.
PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries.
Major Players Mentioned in the Report:
Poh Tiong Choon Logistics Limited
CWT Pte Ltd.
CEVA Logistics Singapore Pte Ltd
Geodis Singapore Pte Ltd1
DHL Express (Singapore) Pte Ltd
DSV
Yusen Logistics (Singapore) Pte Ltd.
YCH Group Pte Ltd
Yamato Transport (S) Pte Ltd
Federal Express (Singapore) Pte Ltd
ACW Logistics Pte Ltd
Singapore Post Limited
Richland Logistics Services Pte Ltd
Storbest SSHK Cold Logistics
Global Cold Chain Solutions1
ST Logistics
Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report:
E-commerce Companies
Third-Party Logistic Providers
Potential Market Entrants
Freight Forwarding Companies
Warehousing Companies
Cold Storage Companies
Industry Associations
Consulting Agencies
Government Bodies & Regulating Authorities
Time Period Captured in the Report:
Historical Period: 2019-2022
Base Year: 2022
Forecast Period: 2022-2028
For more insights on market intelligence, refer to the link below: -
https://www.kenresearch.com/industry-reports/singapore-logistics-market
Related Reports by Ken Research: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/usa-logistics-industry-outlook-to-2026/596047-100.html
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/australia-logistics-market-outlook-to-2025/427141-100.html
India
Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.
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