2018 was a great year for the logistics industry as we saw significant growth. With businesses expanding their overseas operations, ports breaking records, and a shift in trade deals and tariffs, this was a busy year. We are hoping to see such growth carried over into the new year. Here are the four areas that we believe will be the most impactful in the new year:
Consumerism – A wave of spending and new age consumerism has broken numerous shipping records specifically in the United States. Imports have never been higher than they are now, and our exports are growing daily. As the consumption rates continue to grow and will presumably grow in the new year, expect to see a need for more product transportation methods; especially a need for more efficient transportation methods with the sheer number of products being transported. Changes will need to be made to accommodate the continued increase in consumerism across the world as more and more products are moved from varying locations.
Political – This past year we saw everything, from trade deals like NAFTA to tariffs being levied between the US and China. Politics played a key role in the logistics world especially for companies in specific industries. With the changes made in 2018, we can expect to see more of these political moves being made in 2019 as well. As it has already, the political sectors will continue to have an impact on our industry as a whole in the new year.
Technological – 2018 brought big advances in the realm of technology, from self-driving trucks to huge leaps in advanced software development and artificial intelligence. Such advancements made in this last year are expected to grow and multiply into the new year. Technology may be one of the most important areas of growth and change in 2019, as we see costs being cut as efficiency grows exponentially. Embracing this continued new wave of technology will be the challenge and key factor in growth for years to come.
Environmental – 2018 brought mindfulness to our environment, as our direct impact on the world’s environmental status continues to become more apparent. 2019 will be another year of such changes in our environment unless something dramatically changes in the way we operate and live. Quite possibly one of the biggest issues facing the logistics industry in 2019 is the environmental impact we are creating and how we can continue to minimize it. With new technological advances and more efficient transportation methods, it’s very likely we could begin to see such improvement sooner than later.
These four specified areas are projected to have the most growth or overall impact in 2019 and will be the driving factors for change. As a whole, the projections for our industry across the next several years, are continued growth and prosperity. From new technological advancements, trade deals, consumerism, and the environment, it’s no surprise that continuous and sustained growth is the projection. As transportation expands, there will be an increasing demand for the services that James J. Boyle provides. 2019 will be an exciting year and we are looking forward to seeing where it takes our industry!
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