Logistics is a supply chain management part with a detailed organization and implementation of a complex operation. It includes the movement of goods and information between the provider and the receiver. Moreover, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. Increasing global trade activities in the developing economies and trade-related agreements are the major factors driving the growth of the market. However, high inventory cost & less space for warehousing are the factors restraining the market growth.
The Global Logistics Market is expected to grow at a CAGR of 7.2% during the forecast period.
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Recently, Deutsche Post DHL signed an agreement with Escher Group, which assisted DHL to modernize its network by initiating easier parcel delivery and collection in Germany. However, high inventory cost & less space for warehousing are the factors restraining the market growth.
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Transportation and logistics infrastructure is a constantly recurring priority in every new government policies. Economic reforms and government initiatives in terms of strengthening the manufacturing sector are expected to attract private investment. The development of transportation and logistics-related infrastructures, such as dedicated freight corridors, logistics parks, free trade warehousing zones, and container freight stations will help to improve efficiency. The government’s plan is likely to make the economy competitive by reducing logistics costs, bring down pollution levels by reducing congestion on roads, give a boost to the industry and create employment.
The prominent players in the global Logistics market include C.H. Robinson Worldwide, Inc. (U.S.), Ceva Holdings LLC (U.K.), FedEx Corp. (U.S.), XPO Logistics Inc. (U.S.), Expeditors International of Washington, Inc. (U.S.), DHL International GmbH (Germany), DSV Global Transports and Logistics (Denmark), A.P. Moller – Maersk (Denmark), Schenker AG (Germany), GEODIS (France), DTDC Express Limited (India) and other.
Based on the region, Asia Pacific accounted for the largest market share followed by North America and Europe in 2016. The region is expected to grow at the highest CAGR during the forecast period owing to the increased adoption of outsourced logistics services in the region.
Geographically, the global logistics market has been divided into four major regions: North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific is accounted for the largest share of the global market in 2016, followed by North America and Europe. Asia Pacific is expected to grow at the highest CAGR during the forecast period. Increased adoption of outsourced logistics services in the region is driving the growth of the market. Increasing imports and exports along with a huge demand for logistics services due to the economic growth and urbanization are driving the manufacturers to trade across the globe. China, Japan, India, Australia, and Indonesia are the major markets in Asia Pacific region. China is the largest logistics market in the region due to a huge population in the country and the presence of a large manufacturing base.
North America is the second largest region in the market. Increasing trade activities between the Americas and Europe are driving the growth of the market in this region. Rising demand for foreign goods in Indonesia, Thailand, and India has strengthened the trade relations with the U.S. Europe is another major region in the market. Germany, the U.K., and France are the major logistics markets.
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The transportation and logistics industry is confronting immense changes such as digital transformation, new market entrants, changing customer expectations, and new evolving business models. For the purpose of this study, the global logistics market has been divided into three segments: transportation type, logistic type, and end-user industry. On the basis of the transportation type, the market is segmented into airways, waterways, railways, and roadways. On the basis of logistic type, the market has been segmented into first party, the second party, and third party. The second-party logistics segment accounted for the largest market share. By End-user, the market has been segmented into industrial and manufacturing, retail, healthcare, oil & gas, and others. The Manufacturing segment accounted for the largest market share. Factors such as the policy reforms that have improved the ease of doing business along with the easy availability of cheap labor contribute to the growth of the market. Moreover, globalization coupled with population growth and consumption behavior has seen ever-increasing demand for products from all corners of the world. The rise of e-commerce has added to the transport boom, and over the past decade, a considerable growth has been seen across the industry’s value chain as a whole. In terms of growth of the wider industry, logistics infrastructure will see almost across the board real growth in the years between 2017 and 2023. Global Logistics market is expected to grow at a CAGR of 7.2% during the forecast period.
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