PwC mega trends to mould transport sector
Technological advances has been identified as a key mega trend in the market by consultant PricewaterhouseCooper.
In its latest annual global CEO survey of over one thousand chief executives, including over one hundred in the transport and logstics sector, PwC found that improvement in information and communications technology is a fundamental external force that will have the most impact on their businesses over the next five years.
Speaking at TOC Asia taking place in Singapore this week, Julian Smith, PwC’s global transportation and logistics leader, said that the surveyed CEOs also expressed concern about shifting global economic power, demographic changes, climate change resouce scarcity and rapid urbanisation.
On this latter point he pointed out that for ports to overcome congestion in the last mile, the transport and logistics sector will need to innovate their products and service offerings.
“In the transport and logistics sector, the increasing trend is to buy in to a sector in which you need more expertise,” said Mr Smith.
Commenting on the levels of mergers & aquisitions taking place, he described the port sector as a “healthy business to be in if you are an investment banker”.
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