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  • Writer's pictureTeam CargoTalk

UAE logistics market to grow at CAGR of 8.4 per cent

The GCC countries have an opportunity to capture a considerable portion of the global transport and logistics sector market. The UAE’s logistics market is forecast to grow at a CAGR of 8.4 per cent to reach US$31.4 billion by 2026, as per Abu Dhabi’s holding company ADQ. Taarek Hinedi, Vice-President, FedEx Express Middle East and Africa operations, said amid rapid changes brought about by technological advancements, the region’s logistics industry must be at the forefront of digital innovation and emerging trends to help businesses adapt to the changing demands of digitally transformed sectors. The sector is projected to be worth US$12.8 trillion by 2025, by adopting technologies such as AI, Internet of Things (IoT), and Blockchain in logistics-related operations. “The GCC governments have plans to transform their economic foundation, advance sustainability, and leverage their strategic location as a trade hub. To achieve these objectives, it is essential the logistics sector undergoes a concerted effort to modernize and digitize itself,” Hinedi said.

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