Industry Market Outlook
Ranked by the World Bank as Asia’s top logistics hub for 10 years in a row, Singapore offers world-class connectivity to the region and beyond.
The unprecedented boom in regional cross-border trade and consumption strengthens Singapore’s relevance as a secure, highly efficient logistics and supply chain management hub.
APAC will contribute to the maximum growth opportunities for companies throughout the predicted period (2018-2022).
According to this logistics market analysis, the growth of the e-commerce industry and initiatives by the governments of emerging economies including China, India, and Australia towards the development of transportation infrastructure, are major factors that will drive the logistics market share of APAC.
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.