2020 was a crazy year for those in logistics. With many people staying at home, the surge in online sales meant delivery drivers were busy keeping up with the extra demand. People who had to search for new jobs last year found many logistics companies were hiring. In one of the few industries that has not struggled that much during a pandemic, there has continued to be big changes in how businesses match the existing demand and plan to keep up with the industry’s projected growth.
Investment in Infrastructure
Warehouses and depots have normally been situated next to motorways to cover the demand for last-mile deliveries and reverse logistics. With such an increase in demand over the past year, businesses are investing large amounts in building warehouses situated next to major urban centers. Some investors are building warehouses without any buyer lined up because they have confidence that they will sell eventually!
The Rise of 5G
It should be of little surprise to anyone that 5G will become the norm for many of us around the world soon. With online tracking giving the consumer increasingly accurate data, the use of 5G should soon give the business and customer real-time updates that can help monitor every stage of the process. A report published by STL showed that as much as $280 billion could be added to the industry by 2030 with the implementation of 5G.
Adaptation to a more connected world
Logistical methods and advances in technology have certainly made the world a more connected and more accessible place for all. Moving goods or even an entire business has never been easier in this day and age. With industry experts such as Hlogcam, it is possible to move your business into a better position both geographically and financially and ensure you secure the future of your business. Many logistics companies are moving or expanding their assets to ensure that they have that global reach that is needed to keep up with the level of competition.
A Greener Vision
Just as everyone relies on logistics in some form, so too does everyone rely on the natural world. With many countries aiming for net-zero carbon emissions over the next few decades, it will increasingly become a benchmark from which people will make their decisions. With consumers and industry leaders alike considering their impact on the environment, the search for innovation is certain to increase. Whether it is the use of hybrid vehicles or utilizing technology to save energy in warehouses, there are many solutions that will be used in every stage of the supply chain.
These are just a few examples of what is to come in the near future for the logistics industry. As the level of demand picks up, so to will the amount of innovation needed to keep up with it. Even before the pandemic, there were no signs of the industry slowing down, and the next few years will likely accelerate the pace of change as levels of investment will increase along with the size of the market.