Uniting ASEAN's smart logistics and warehouse industry under one roof

The trends in global procurement, sales, and localised production are becoming more and more specialised. The professionalization of the logistics industry is not only the inevitable result of social division of labour, but also an urgent requirement of the market economy. The third party logistics organisation is an ideal choice for enterprises. It can save logistics costs and improve logistics efficiency for enterprises. The logistics industry is a compound or aggregate industry formed by the industrialization of logistics resources. Logistics technology, while getting more advanced due to automation, has impacted how the various companies in this industry operate and offer their services.

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ASEAN has a population of 629 million and a GDP of $2.4 trillion. In recent years, it has been growing at an annual rate of about 5%, just like the rise of new economic power. The free movement of goods and people between ASEAN member states is an important mission of the organization to improve the living standards of the people, which means that governments in the region pay great attention to transportation and logistics.

There is much optimism in the Southeast Asia logistics market. In a report by ResearchAndMarkets.com, the region’s third-party logistics market accounted for $36.4 billion in 2017 and is expected to grow at a CAGR of 5.5% from 2018-2025, to reach $55.7 billion in 2025. The report further states that the demand for third-party logistics services is largely influenced by the rise in the number of retail and e-commerce players in developing economies across the globe. Also, rapid industrialisation leads to prompt infrastructural developments which further impacts positively on thriving the overall economy. The third party logistics market is fragmented with the presence of several industries and the competitive dynamics in the market is expected to change in the next few years. Futhermore, various initiatives are undertaken by governmental bodies to further accelerate the third party logistics market.

Industry leaders addressed the hottest topics

The 2021 ASEAN Smart Logistic, Warehouse, and E-commerce Summit was virtually held on June 30, 2021, with over 150 people registered. Organised by Ringier Events, the virtual conference opened the event with new research on smart logistics, automation & robot, smart transportation and smart warehousing. The summit was supported by the Vietnam Logistics Business Association and The Cold Chain Association of the Philippines.