NORTH AMERICA AUTOMOTIVE LOGISTICS MARKET ANALYSIS

Market Challenges And Opportunities

Market Restraint:

Restraint 1:

Security of sensitive and confidential data is one of the main reasons for the sluggish acceptance of the technology in automotive industry. This is expected to hinder the growth of North America automotive logistics market.

Restraint 2:

The fluctuations in fuel costs, supplier/buyer relationships, consumer behavior and partner ecosystem is a major concern impeding the growth of the North America automotive logistics market.

Market Opportunities:

Opportunity 1:

Cloud technology is one of the key technologies which is anticipated to propel the logistic companies’ growth in the upcoming years. Cloud technology offers several benefits to the transportation company, such as better customer experience in terms of speed, lower prices, and the ability to track goods. This is expected to offer lucrative opportunities in the growth of North America automotive logistics market.

Opportunity 2:

In the autonomous vehicles sector especially, the passenger cars are gaining substantial popularity in recent times, and several automobile manufacturers are testing autonomous trucks. The autonomous trucks would benefit the logistics companies as well as the suppliers with enhanced safety and shorter lead times. This is further predicted to offer growth opportunities in the North America automotive logistics market.

Market Drivers:

Driver 1:

The rising number of automobile manufacturing plants across North America is driving the growth of the North America automotive logistics market. For instance, as per IBISWorld.com, There are around 718,796 Manufacturing plants in the US as of 2022, an increase of 3.8% from 2021.

Driver 2:

The incorporation of smart technologies and autonomous vehicles is anticipated to propel the growth of North America automotive logistics market in the forecast period. For instance, as per Global Data’ report there are more than 1400 self-driving cars on the roads in US.