The logistics industry is likely to bloom owing to the transportation of goods from point of origin to point of consumption. The acquisition, storage, and management of products constitute a large part of the industry. The use of information technology for monitoring the progress of goods as well as transparency of the process is likely to revolutionize the industry. The global logistics market report by Market Research Future (MRFR) considers various growth variables and challenges for the period of 2018 to 2023 (forecast period). The COVID-19 outbreak and its impact on the industry are explored in the report as well.
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Market Scope
The global logistics market is expected to grow at a CAGR of 7.2% during the forecast period. This can be attributed to international trade and changing scenario of the worldwide market. The surge of the ecommerce industry is expected to bode well for the market. The lockdown restrictions imposed on consumers has led to a surge in online shopping and facilitated growth for the logistics market. Favorable government policies and end-to-end supply solutions for essentials can drive the market demand exponentially. Transfers of government personnel have induced the demand for logistics vendors for safe transport of goods as well as their tracking via a smartphone application.
The COVID-19 virus has badly hit the global logistics market owing to restriction on transportation of goods domestically and internationally. Efforts to contain the virus by governments and measures to reverse the flow of raw material supply may alleviate the stress on the market.
The global logistics market has been segmented by transportation type, logistic type, and end-user industry.
On the basis of the transportation type, the market is segmented into railways, airways, waterways, and roadways. The airways segment has negatively affected by the COVID-19 pandemic owing to restrictions on airplanes and a dip in demand. However, the supply of essentials to nations facing other calamities and grievous damage to properties can propel the segment growth.
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 oil & gas, industrial and manufacturing, retail, healthcare, and others. The manufacturing segment accounted for the largest market share. Factors such as policy reforms promoting the ease of doing business along with the easy availability of cheap labor have contributed to the growth of the segment. Moreover, globalization coupled with population growth and rising consumption of goods can widen the ambit of the global logistics industry. 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.
Regional Analysis
Geographically, the global logistics market has been divided into four major regions - North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The Asia Pacific is accounted for the largest share of the global market in 2016, followed by North America and Europe. It 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. The imports and exports of goods and the use of smartphone applications for monitoring the movement of goods can drive the regional market. China, Japan, India, Australia, and Indonesia are the major markets in Asia Pacific region. Recently, Indian logistics platform FarEye has decided to aid SMEs in their purpose of tracking goods through contactless service and intelligent routing shown through maps.
North America has huge potential for the global logistics market owing to an increase in trade activities between the Americas and Europe. Presence of huge warehouses and large number of fleets able to deliver goods through unpredictable weather conditions can drive the regional market.
Competitive Landscape
Supported by growing demand for foreign products in Indonesia, Thailand, and India, the logistics industry has improved trading ties with the U.S. Europe—Europe. The population growth around the world and increasing demand of logistics market based services and products also support the market growth. However, the logistics market growth can be affected due to poor distribution network as well as high competition in regions. The report covers all such details which will help companies in the logistics market to strengthen their business plan and improve their product portfolio. The logistics market research report also provides company profiles of major companies. The company profiles of many organizations operating in the logistics market report highlights crucial details like company size, revenue growth, and details of mergers and acquisitions taking place in the logistics market. New companies and established businesses can plan their strategies based on this data provided in the logistics market research report.
Key Players
The forefront players of the global logistics market are GEODIS (France), Ceva Holdings LLC (U.K.), C.H. Robinson Worldwide, Inc. (U.S.), FedEx Corp. (U.S.), Expeditors International of Washington, Inc. (U.S.), XPO Logistics Inc. (U.S.), DHL International GmbH (Germany), A.P. Moller – Maersk (Denmark), DSV Global Transports and Logistics (Denmark), Schenker AG (Germany), DTDC Express Limited (India) and other.
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Industry News
From Realterm and J.P. Morgan Asset Management is delighted to announce the purchase of a fully functional high flow-through (HFT) logistics portfolio of 1.75 million square-foot (msf) concentrated in 28 US key manufacturing markets, including, among others, Chicago, Atlanta, Dallas, New Jersey, New York, and Philadelphia. Any of the portfolio's 54 properties profits from favorable transportation locations with excellent connections to main interstate highways, airports, and seaports. In a 50/50 JV with institutional investors recommended by J.P., the portfolio was purchased by the Realterm Logistics Benefit Fund (RLIF) Morgan Management of Assets, which will be handled by Realterm.
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