The coordinated procedures used in the processing, shipping, and storage of items along the supply chain are referred to as warehousing and logistics. While warehousing entails the orderly and secure storage of items prior to distribution, logistics concentrates on the planning and implementation of the effective flow of products from origin to destination. When combined, they guarantee that goods are delivered in the proper condition, at the appropriate time, and to the correct location. In order to support industrial, retail, and e-commerce activities in international markets, these functions are essential.
According to SPER market research, ‘Vietnam Logistics and Warehousing Market Size-By Type, By Ownership, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Vietnam logistics and Warehousing Market is predicted to reach XX billion by 2034 with a CAGR of 11.23%.
Drivers:
Several key factors contribute to the expansion of the Vietnam logistics and warehousing market. Demand for effective last-mile delivery and fulfilment services is rising as a result of the nation's e-commerce development, particularly among its youthful, tech-savvy populace. The need for warehouse space close to ports and industrial zones is increasing as a result of Vietnam's growing status as a manufacturing hub, which is being bolstered by an increase in foreign direct investment. Sector growth is further supported by government initiatives like the creation of economic zones and better infrastructure. Logistics networks are also getting stronger as a result of free trade agreements and greater international trade.
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Restraints:
The Vietnam logistics and warehousing market faces several challenges that may impede its growth. Underdeveloped roads, ports, and railroads are examples of infrastructure constraints that increase operating costs by causing traffic jams and supply delays. Efficiency is further hampered by the absence of connection between inland warehouse and transportation modalities. The sector is also hampered by high logistics expenses brought on by intricate cross-border processes and fluctuating fuel prices. Additionally, businesses' capacity to adjust to digital transformation is hampered by a lack of skilled workers, particularly in management. Administrative procedures and complicated restrictions slow down processes. Due to budgetary limitations, many businesses find it difficult to implement new technologies. Progress requires a stronger partnership between the public and commercial sectors.
Ho Chi Minh’s dominance in the Vietnam logistics and warehousing market is due primarily to its strategic infrastructure, economic significance. Some significant market players are Bac Ky Logistics Vietnam, Damco Vietnam, Kerry Logistics Vietnam, Nippon Express Vietnam, Noi Bai Cargo Terminal Services, Sea and Air Freight International, and others.
For More Information, refer to below link: –
Vietnam Logistics and Warehousing Market Growth
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