The Global Logistics Service Market revenue accounted for US$ 1,122.58 Bn in 2018 and is expected to grow at a CAGR of 6.9% during the forecast period 2019 – 2027, to account to US$ 2,029.38 Bn by 2027.
The logistics services constitute the set of service or solutions related to the part of supply chain process, storage of goods, transportation, management and planning among other critical services provided to the various end-users. The services facilitate aid in efficient flow of goods, services from material sourcing, processing, manufacturing, and distribution for consumption process along with providing necessary consulting, management as well as optimization services. The report summarizes the results of the detailed, exhaustive research assessment carried out by The Insight Partners in the field of logistics service across different industry verticals. Also, the report covers logistics service market segmented by mode of transportation, organization size, logistics provider, and end-user across major geographical regions for enabling a superior understanding of the global logistics service market.
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The global logistics service market is heavily fragmented owing to present of numerous small & medium players operating with limited regional scope. Furthermore, the presence of numerous globally leading market players specializing in limited service across different mode of transportation has further attributed in the fragmented nature of the market. However, companies the market does constitute some prominent market players such as CEVA Logistics, PANALPINA WORLD TRANSPORT (HOLDING) LTD., United Parcel Service (UPS), C.H. Robinson Worldwide, Inc., A.P. MOLLER – MAERSK, Nippon Express, FedEx, DB Schenker, DHL International GmbH, and KUEHNE + NAGEL to name a few prominent market players operating in the market.
Efficient transportation is physically moving supplies in relatively safe manner on right time, in right condition, and in a cost effective manner. The role of transport is the movement of goods from the point of manufacturer or storage to the point of use or the distribution points to end use. On the basis of mode of transport, the global market is segmented into roadways, railways, waterways, and airways. The selection criteria of mode of transport is depends on the physical characteristics of goods and supplies. In certain situations, environmental factors such as destruction of roads and railways may have a considerable impact on the mode of selection. The factors considered in mode of selection would be speed which the mode exhibits, flexibility that the mode offers, and comparative unit cost.
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The third party logistics continues to gain major traction across various end-user industries owing to growing popularity of outsourcing as well as achieving superior operation efficiencies. Furthermore, the increase in demand for shipping cost reduction & more focus on timely delivery management, reduction on company’s assets & permitting focus on core business, and advantage in managing seasonal variations are projected to drive the market for third party logistics during the forecast period. However, lesser control of manufacturers on logistic service and delivery process may adversely impact the market for third party logistics in near future. Moreover, the factor such as increase in adoption and growth of e-commerce in retail sector is projected to generate remarkable growth opportunity to the industry players. As a result, the third party logistics continue to provide numerous profitable business opportunities for the market players globally.
The logistics services market worldwide has been experiencing an intense growth, owing to the constant investments, new product development, and integration of futuristic technology in present scenario. The market for Logistics services consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced product to the customers. The logistics service providers, particularly the third partly service providers are making significant growth in the market in terms of geographical expansion and technological advancements. For instance, 3PL firms these days are implementing several software based solutions in their operations in order to reduce the inefficiency and costs with saving time for operations. In addition, the implementation of speech recognition software in warehouse management system communications will support order turn-round and inventory records with reducing employee-training requirements. Along with this, acceptance of cloud-based technology in 3PL companies will respond demands by recognizing the need for customer access which is expected to better meet the seasonal trends efficiently.
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Reasons To Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global logistics service market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the logistics service market, thereby allowing players across the value chain to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.
- Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
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