14 May 2019 - The Global Logistics
Market is subject to witness a
substantial growth due to the recent technological advancement in the various
logistics services, rising transportation activities in both developed and
developing economies across the globe and increasing shipping demand. The
number of service providers are improving their supply chain capabilities due
to numerous growth opportunities available, thereby driving market growth, in
the recent years. Additionally, shifting trends towards early adoption of
advanced services such as automated freight payment and audit procedure to
achieve cost-effectiveness are anticipated to drive the growth of logistics
market over the forecast period.
Other
factors such as reduction of capital expenditure (CAPEX), risk management,
better inventory management, and directing on the core competencies of
different business operations. Globally, the market is predicted to grow at
high CAGR during the forecast period, providing numerous opportunities for
market players to invest in research and development in the logistics market.
Robust
growth of the logistics industry is majorly attributed to the high-end
international trade flow and the strong economic growth in the developing
economies such as India, China and Brazil. Increasing transportation &
infrastructural activates in the Asia Pacific and North America region is
anticipated to boost market growth in the upcoming years. Additionally,
intra-regional trade and international among developing economies across the
globe coupled with higher growth rate in the Asia Pacific region are expected
to drive the growth of logistics market over the forecast period.
Increasing
adoption of various logistics services in various sectors such as
manufacturing, retail, trade and transportation. Other application of the
logistics services include private and local utility sector, healthcare
industry, media and entertainment sectors. These factors are expected to foster
market expansion of logistics industry over the forecast period. Recent
adoption of thirds party logistics services in the telecommunication, banking
and financial services, and information technology industry is estimated to
expand overall market reach in the near future as well. In addition,
development of latest technologies and introduction of novel products such as
the freight brokers and different value-added services are driving market
growth in the recent years. Introduction of freight brokerage and
transportation activities that complies with the stringent governmental laws
and regulations has provided numerous growth opportunities for industry
players. Increasing investment in the logistics services by leading industry
players to improve their supply chain activities, thus enhancing their existing
services and achieve cost efficiency, are anticipated to boost market demand
further.
Furthermore,
growing implementation of third party logistics services (3PL) by various
end-user industries and adoption of advanced business model to completely
utilize the unused warehouse space and resources, are projected to stimulate
the growth rate of logistics market. Recent technological advancement in the
logistics industry such as early adoption of automation and the rising
popularity of IoT-based services are expected to offer multiple growth avenues
over the next seven years. The Domestic Transportation Management (DTM) is considered
as one of the fastest growing segment in the logistics market with substantial
revenue generation in the last couple of years.
The
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in the implementation of latest technologies in the logistics
industry, increase in demand for logistics software, massive investments for
visibility and route optimization, and existence of well-established
transportation infrastructure in the region. Asia-Pacific region is predicted
to hold major market share in the logistics market with massive growth in
forecast period. Countries such as India, China and Japan are leading the
Asia-Pacific market with strong economic growth, growing infrastructural
activities, and significant investment by leading industry players considering
potential growth opportunities in the region.
The
key players in the logistics market are J.B. Hunt Transport Services LLC, C.H.
Robinson Worldwide Inc., Ceva Holdings LLC, FedEx Co., United Parcel Service
Inc., Expeditors International of Washington Incorporations, XPO Logistics Co.,
Kenco Group Inc., Deutsche Post DHL Group AG, Americold Logistics, LLC, and UTi
Worldwide Incorporations.
Market Segment:
This report focuses on the global top
players, covered
•
XPO Logistics
•
J.B. Hunt Transport Services
•
UPS Supply Chain Solutions
•
DHL Supply Chain
•
C.H. Robinson Worldwide
•
Expeditors International of Washington
•
FedEx
Market segment by Regions/Countries,
this report covers
•
United States
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
Market segment by Type, the product can
be split into
•
Logistics Of Industry
•
Construction Logistics
•
Agricultural Logistics
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