Singapore Logistics Market is currently valued at 25 Bn SGD in 2022. Will Singapore continue this growth trajectory in future? : Ken Research

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1. Growing Demand in Singapore’s E-Commerce Sector

Click to know: Major Players in Singapore Logistics Market

The demand in e-commerce sector in Singapore was exponential and the e commerce GMV grew from $2.5 Bn in 2019 to $6.2 Bn in 2022 this paved path for the growth of logistics market. E-commerce companies invested in new technologies and explored new ways to fulfilling the demand in the market.

Shopee was the most frequently visited e-commerce site in the fourth quarter of 2021, according to the Price group, with 16.15 Mn monthly online visitors. Shopee is followed by the Singapore-based online retailers Lazada and Amazon with 9.2 and 5.2 million visitors, respectively.

Singapore, which has a population of 5.87 million people, is a digitally literate nation with an internet penetration rate of 88.9% and a financial inclusion rate of 97.9%. Additionally, according to the Ministry of Trade and Industry, as of 2021, about 52.3% of all Singaporeans had made an online purchase, indicating an increase in the adoption of e-commerce businesses. The business services sector, which made up about 3.6% of all e-commerce trade in 2019, had the smallest share of the market.

2. Government Assistance to the Logistics Sector

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  • Singapore’s announced the launch of an S$ 18 Mn Supply Chain 4.0 Initiative in 2021.
  • Aims to integrate more technology to assist SMEs.
  • Singapore launched the Singapore Trade Data Exchange (SGTraDex) in mid-2021 and facilitates the secure sharing of data between supply chain ecosystem partners through a common data highway.
  • The ITM is a government-led initiative aimed at driving the transformation and growth of the logistics and supply chain industry in Singapore.
  • The ITM aims to accelerate the adoption of digital technologies, such as automation and artificial intelligence, and to enhance the productivity and competitiveness of the sector.
  • The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.
  • PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries.

Major Players Mentioned in the Report:

  • Poh Tiong Choon Logistics Limited
  • CWT Pte Ltd.
  • CEVA Logistics Singapore Pte Ltd
  • Geodis Singapore Pte Ltd1
  • DHL Express (Singapore) Pte Ltd
  • DSV
  • Yusen Logistics (Singapore) Pte Ltd.
  • YCH Group Pte Ltd
  • Yamato Transport (S) Pte Ltd
  • Federal Express (Singapore) Pte Ltd
  • ACW Logistics Pte Ltd
  • Singapore Post Limited
  • Richland Logistics Services Pte Ltd
  • Storbest SSHK Cold Logistics
  • Global Cold Chain Solutions1
  • ST Logistics

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

  • E-commerce Companies
  • Third-Party Logistic Providers
  • Potential Market Entrants
  • Freight Forwarding Companies
  • Warehousing Companies
  • Cold Storage Companies
  • Industry Associations
  • Consulting Agencies
  • Government Bodies & Regulating Authorities

Time Period Captured in the Report:

  • Historical Period: 2019-2022
  • Base Year: 2022
  • Forecast Period: 2022-2028

For more insights on market intelligence, refer to the link below: –

Singapore Logistics Industry

Related Reports by Ken Research: –

USA Logistics Industry Outlook to 2026

Australia Logistics Market Outlook to 2025

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