Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global logistics market in its present state has come about as a result of an amalgamation of supply side and demand side trends. The rapid proliferation of trade agreements among various nations is the major demand driver of the global logistics market. Additionally, the initiatives aimed at increasing globe trade activities have expanded the demand for logistics in order to keep pace with the rising needs of importers and exporters. According to the latest report by IMARC Group, titled “Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global logistics market reached a value of US$ 4,730 Billion in 2018.
Logistics refers to the process of planning and coordinating resources and services from the point of origin to the point of consumption. This process provides efficient and effective transportation and storage of goods and services. The major components of logistics involved in the proper functioning of an organisation or a business include inventory management, inbound and outbound transportation, material handling, warehousing, etc. In recent years, the logistics industry has benefitted from the advancements made in technology, integration, globalization, legislation, and confederations.
The advancements in technology which involve automated material handling equipment, biometrics, GPS, etc. aid organisations and businesses to work proficiently, thereby spurring the growth of the logistics market across the globe. The upsurge in internet retailing and the increasing popularity of online shopping are some of the other factors supporting the market growth. Looking forward, the market is projected to reach a value of US$ 6,300 Billion by 2024, registering a CAGR of 4.9% during 2019-2024.
Based on the model type, the market has been segmented as 2 PL, 3 PL and 4 PL.
On the basis of transportation mode, the market has been segregated into roadways, seaways, railways and airways.
Based on the end-use, manufacturing represents the largest segment, accounting for the majority of the global share. Other major segments include consumer goods, retail, food and beverages, IT hardware, healthcare, chemicals, construction, automotive, telecom, oil & gas, and others.
Region-wise, Asia Pacific accounts for the largest market share followed by Europe, North America, Latin America, and Middle East and Africa.
The competitive landscape of the market has also been analysed with some of the key players being J.B. Hunt Transport Services, C.H. Robinson Worldwide, Inc., Ceva Holdings LLC, FedEx Corp., United Parcel Service, Inc., Expeditors International of Washington Inc., XPO Logistics Inc., Kenco Group, Deutsche Post DHL Group, Americold Logistics, LLC and DSV Air & Sea Inc.
This report provides a deep insight into the global logistics market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the logistics market in any manner.
Key Questions Answered in This Report:
How has the global logistics market performed so far and how will it perform in the coming years?
What are the key regions in the global logistics market?
Which are the popular logistic models in the global logistics market?
What are the key end-use segments in the global logistics market?
What are the major transportation modes in the global logistics market?
What are the various stages in the value chain of the global logistics market?
What are the key driving factors and challenges in the global logistics market?
What is the structure of the global logistics market and who are the key players?
What is the degree of competition in the global logistics market?
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