Digital drive to boost GCC logistics

Digital drive to boost GCC logistics

The GCC countries have an opportunity to capture a considerable portion of the global transport and logistics sector market, which is projected to be worth around $12.8 trillion by 2025, by adopting technologies such as artificial intelligence (AI), Internet of Things (IoT), and blockchain in logistics-related operations, according to industry experts. Taarek Hinedi, vice-president of FedEx Express Middle East and Africa operations, said amid rapid changes brought about by technological advancements, the region’s logistics industry must be at the forefront of digital innovation and emerging trends to help businesses adapt to the changing demands of digitally transformed sectors. “Connected logistics is anticipated to become the industry standard since it enables timely and cost-effective shipment management. For instance, GCC governments have ambitious plans to transform their economic foundation, advance sustainability, and leverage their strategic location as a trade hub. To achieve these objectives, it is essential that the logistics sector undergoes a concerted effort to modernize and digitize,” Hinedi said. The UAE’s logistics market is predicted to grow at a compound annual growth rate (CAGR) of more than 8.4 per cent to reach $31.4 billion by 2026, according to Abu Dhabi’s holding company ADQ. The industry’s rapid growth offers many opportunities