UAE readies for a new era in logistics solutions

UAE readies for a new era in logistics solutions

Officials from Hamriyah Free Zone Authority and Amazon UAE sign the lease for a new logistics centre

When the Hamriyah Free Zone Authority (HFZA) signed a lease agreement last year in October with the local arm of global logistics and e-commerce brand, Amazon, it marked a new era in innovation and economic growth for the Northern Emirates, while also highlighting the importance of the logistics sector for the UAE and the region.

Big on numbers

In a study released by global research and consulting firm, Precedence Research last year, predictions are the global logistics sector will be worth around $18.23 trillion by the year 2030, with a CAGR of 10.7 per cent between 2023 and 2030. Closer to home in the region, the UAE is expected to be a major contributor to growth of the logistics sector, around the same timeframe.

Figures released by global market research firm Mordor Intelligence predict the UAE logistics sector to be worth approximately $30.19 billion by 2030, with a CAGR of 7.01 per cent during the period 2024-2030. And while conventional logistics and the push and pull of market forces are expected to play their parts in supporting the industry, new-age technologies are being seen