Warehousing Market in India Poised for 9.53% CAGR Till 2023
According to a new Netscribes report published on Research on Global Markets, the warehousing market in India is expected to have a significant compound annual growth rate (CAGR) of 9.53% and reach a market size of INR 1,362 Bn by 2023.
Technological advancements like the Internet of Things (IoT), cloud computing, robot automation and others are having a positive impact on the warehousing market in India. Also, government initiatives like the ‘Make in India’ program bode well for the growth of the market. Region-wise, north-east India accounts for 48% of the warehouses in the country, with the industrial and retail sector being the largest occupants of these warehouses.
However, the warehousing market in India is still in a nascent stage compared to that of the United States and European countries. Unavailability of quality and flexible warehousing spaces, lack of warehousing standards and accreditation related complexities are significant challenges the Indian warehousing industry will face.
Key highlights of this report:
- Historical, current and forecasted market size data for the warehousing market in India
- Qualitative analysis of the warehousing market in India and warehousing clusters across major Indian cities
- Qualitative analysis of the major drivers and challenges affecting the market
- Analysis of the competitive landscape and profiles of major players operating in the market
This report has been formulated and designed with the purpose of giving businesses a concise understanding of the demand for warehouses in India to determine the viability of the market, develop strategies based on the drivers, and help brands identify competition and respond accordingly.
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