According to the recent study by IMARC Group, entitled “Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global logistics market size reached a value of US$ 4,963 Billion in 2019. Logistics, an indispensable component of supply chain management, involves planning, coordinating and managing the flow of resources from the point of origin to the point of consumption. It offers efficient storage and transportation of goods, services and information to meet the requirements of the customer cost-effectively. Some of the key components of the process include warehousing, inventory management, purchasing, traffic and transportation, production planning, customer service, shipping and receiving, and import and export operations.
Global Logistics Market Trends:
The global market is primarily driven by the considerable growth in the e-commerce industry. This can be attributed to a significant increase in the sales of goods through online retail channels, which is further facilitated by the convenience offered by these platforms at a better price point. Since logistics play a crucial role in the smooth functioning of online deliveries, this has provided a thrust to the market growth. In line with this, easy return and refund policies offered by various e-commerce platforms have influenced the demand for reverse logistics processes with flexible services such as tracking facilities. Apart from this, an enhanced focus on sustainable development has led to increasing demand for green logistics that provide sustainable transport solutions. Moreover, constant technological advancements, increasing international trade agreements and the integration of biometrics, GPS, Bluetooth, driverless vehicle and drone delivery with logistics systems are some of the other factors that are anticipated to create a positive outlook for the market. On account of these factors, the market is projected to reach a value of US$ 6,537 Billion by 2025, registering a CAGR of 4.7% during 2020-2025.
- Based on the model type, 3 PL represents the most preferred segment in the market. Other major segments include 2 PL and 4 PL.
- On the basis of the transportation mode, roadways exhibit a clear dominance in the market. Some of the other segments include railways, seaways and airways.
- Based on the end use, the market has been segregated into manufacturing, consumer goods, retail, healthcare, food and beverage, IT hardware, chemicals, telecom, automotive, oil and gas, construction, and others. Among these, the manufacturing sector accounts for the majority of the total market share.
- On the geographical front, Asia Pacific holds the leading position in the market. Other major regions include Europe, North America, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players operating in the report. Some of these companies include C.H. Robinson Group, J.B. Hunt Transport, Inc., FedEx Corporation, CEVA Logistics AG, Expeditors International of Washington, Inc., United Parcel Service, Inc., Kenco Group, XPO Logistics, Inc., Americold, Deutsche Post AG, and DSV Panalpina A/S.
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