Industrial Distribution Market Regional Analysis:
North America Market Insights
North America industry is estimated to dominate majority revenue share of 43% by 2035. The growth in the region is credited to the rising adoption of advanced technologies including the Internet of Things (IoT). Manufacturing, healthcare, energy, transportation, and retail sectors in North America utilize IoT analytics to optimize inventory levels and increase supply chain effectiveness. Almost 55% of businesses in North America employ IoT technology for business-related activities.
The U.S. has tremendous growth potential in the logistics industry due to its established logistics infrastructure and improved industrialization, which are expected to drive market expansion. Business logistics expenses in the United States reached a new high of USD 2 trillion in 2022, accounting for over 9% of the country's GDP.
The market in Canada will be led by surging investments by the government to fortify the nation's supply networks. In April 2022, the Ontario government announced an investment of over USD 5 million in the Ontario Automotive Modernization Program, to enhance competitiveness and support the province's auto-parts supply chain.
APAC Market Insights
Asia Pacific region is likely to observe significant growth till 2035, owing to rapid urbanization, and industrialization. Asia is set to undergo a period of unprecedented urbanization, which might increase demand for industrial distribution by driving up city-based consumption of goods and services. According to the World Bank, with an average yearly urbanization rate of 3%, East Asia and the Pacific are the regions that are urbanizing the fastest in the world.
Japan is expected to lead the world in automation, robotics utilization, and integrating artificial intelligence into everyday life in several industries including food, medicines, and logistics. This may drive the market demand for industrial distribution.
Similarly, China has quickly emerged as the world leader in automation and aspires to be the global leader in robotics once it achieves self-sufficiency in the sector. Moreover, large-scale infrastructure projects, such as transportation networks and urban development, are driving the need for industrial products and services.
South Korea has a highly developed manufacturing sector, including industries such as electronics, automotive, and shipbuilding, which drives demand for industrial products and services. The market in the country is robust and expanding, supported by its advanced manufacturing capabilities, technological advancements, and strategic infrastructure investments.
