Global Logistics Market: Overview
Logistics offer businesses advantages such as enhanced delivery performance, reduced operational costs, and improved customer satisfaction, and are thus, becoming increasingly popular. The growth of ecommerce is one of the key factors boosting the global logistics market. The popularity of online shopping is increasing and with it, the demand for logistics services. Applications that are adopting logistic services on a wide scale include healthcare, retail, transportation, manufacturing, government and public utilities, media and entertainment, banking and financials, telecommunications, IT, and trade. It is expected that the use of logistic services will increase significantly in the coming years and this will strengthen the market across the globe.
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Global Logistics Market: Key Trends
The role of logistics as a cross functional link between industries will ensure that the logistics market will continue to grow as it has to adjust to the changes that occurs in every industry that it facilitates its services to. Although this acts as one of the challenges for the logistics market, if seen from a positive angle, it also enables the market to continuously progress and develop, thus creating opportunities of growth.
One of the trends that can be seen in today’s world, is the need for customized and specialized services and logistics services thus comes into picture. Logistics services can be used to realign strategies and ensure growth of any industry to which it is applied. The market environment today is volatile and the rage of online shopping or ecommerce is providing logistics providers considerable growth opportunities.
Global Logistics Market: Market Potential
It is anticipated that a majority of the manufacturing supply chains will make use of business to business commerce networks for their supply and demand, new product developments, and other services. This in turn is expected to boost the global logistics market.
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FedEx Express, a key market player intends to start a new flight in April 2017, which will connect, the Liège to the Memphis. This is expected to offer global TNT customers a direct access to FedEx services in Canada and the U.S. Such developments are expected to continue to drive the global logistics market.
Global Logistics Market: Regional Outlook
Asia Pacific, led by countries such as China, Singapore, India, Indonesia, Malaysia, and Japan was the most lucrative market for logistics in the recent past. The North American logistics market, too has grown considerably owing to growing trade activities between the U.S. and Europe. Among European countries, Germany is a key market for logistics. The Rest of the World is expected to be the most promising regional segment and is expected to expand at a high CAGR in the coming years. Latin America is anticipated to be the most lucrative market for logistics in the Rest of the World, whereas Brazil and Argentina are expected to emerge as potential markets in the future owing to their increasing trade relations with other developing nations.
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Global Logistics Market: Competitive Landscape
Key players in this market include FedEx Corp. (U.S.), C.H. Robinson Worldwide, Inc. (U.S.), Ceva Holdings LLC (U.K.), UTi Worldwide Inc. (U.S.), Expeditors International of Washington Inc. (U.S.), Deutsche Post DHL Group (Germany), J.B. Hunt Transport Services (U.S.), Kenco Group (U.S.), Americold Logistics, LLC (U.S.), XPO Logistics Inc. (U.S.), United Parcel Service, Inc. (U.S.),