Impact of ICT on Road Freight: Vietnam has made significant progress towards improving Information and Communication Technologies (ICT), particularly the growth of internet and Intelligent Transportation System (ITS). The internet has increased B2B and B2C transactions leading to greater transportation demand in Vietnam. ITS have promoted the optimization of fleet management through real time information leading to transportation efficiency.
COVID-19 Impact on Road Freight Market: Commercial road transport, both passenger and goods, has been severely impacted by COVID-19 due to transport restrictions put in place to mitigate the pandemic and the overall economic downturn. Vietnam’s road freight was severely impacted by the Covid-19 outbreak as Freight costs have increased due to a shortage of truck drivers, who have shunned the severe quarantine measures. After the spread of COVID-19, the import of raw materials from China was significantly delayed and Vietnam's strict quarantine measures made it difficult to cross the border to Cambodia.
Last Mile Logistics in the Industrial Revolution (4.0) in Vietnam: The most significant impact of IR 4.0 in Vietnam is the steady development of e-commerce. Vietnam currently has one of the fastest-growing B2C ecommerce markets in Southeast Asia. In 2019, Vietnam's e-commerce continued to grow comprehensively, with a growth rate of over 30%. The current booming of Vietnam e-commerce, therefore, has created very high demand for logistics services as well as triggered a promising e-logistics sector, particularly Last Mile Logistics, which is essential for e-commerce business because it interacts directly with end customers.
Improving quality of Infrastructure: The Ministry of Transport, Vietnam has launched Vietnam Road Administration (VRA), a subordinate administrative agency to administer and supervise the road transportation system. In Areas such as Mekong Delta, road and bridges are non-existing or are of very poor standard led to development of very strong and efficient Inland waterways connecting rural areas. By 2030, VRA is planning to invest $14Bn to provide a continuous road network in Central Vietnam, through a north-south highway.
The report titled “Vietnam Road Freight Market Outlook to 2025” by Ken Research suggested that the logistics market is expected to grow at a double digit positive CAGR. Increased Trade and Technological advancements in the fleet are driving the ambient container truck market in Vietnam. The Road Freight revenue in Vietnam is expected to grow over the next few years owing to the increasing industries and trade parks in the country.
Key Segments Covered:-
By Freight Volume
By Transport Sector
By Enterprise Ownership
Road Freight Market
By Freight Volume
Key Target Audience:-
Food Processing Industry
Food Packaging industry
Consumer Electronics Industry
Time Period Captured in the Report:-
Historical Period: 2015-2019P
Forecast Period: 2020F–2025F
Road Freight Industry
SNP – Saigon New Port
Indo Trans Limited
Minh Chau JSC
Procter & Gambler
Key Topics Covered in the Report:-
Vietnam Logistics Market Introduction
Vietnam Logistics Market Size, 2015-2019P
Vietnam Logistics Market Segmentation, 2015-2019P (Revenue, Freight Volume, Transport Sector, Transportation, Enterprise Ownership)
Detailed Analysis on Road Freight Market ( Revenue, Freight Volumes, Fleet Characteristics, End User Analysis, Supply EcoSystem, Cost Component, Demand Analysis)
Major Challenges in Vietnam Road Freight Market
Regulatory Landscape in Vietnam Logistics Market
Target End Users(Analysis on Top 15 FMCG companies)
Comparative Landscape in Vietnam Road Freight Market
Vietnam Road Freight Market Future Outlook and Projections, 2020F-2025F (Revenue, Freight Volumes, Future Innovations)
Impact of Covid-19 on Road Freight Industry
For More Information on the research report, refer to below link:
Turkey Logistics and Warehousing Market Outlook to 2025 – By Domestic and International Freight Forwarding Throughput, Revenue & Flow Corridor (Road Freight and Pipelines, Sea, Air and Rail Freight), By Warehousing (Industrial / Retail, Container Freight / Inland Container Depot & Cold Storage), By 3PL, Courier Express & Parcel, Domestic and Cross Border E-commerce Logistics
Ankur Gupta, Head Marketing & Communications