Global Logistics Market to Reach US$15.5 Trillion by 2023; Research Report Published by Transparency Market Research

Press Release

According to a new market report published by Transparency Market Research Logistics Market (By Transport Infrastructures  Road Transport, Waterways Transport, Rail Transport and Air Transport By Logistics Model  First Party Logistics, Second Party Logistics, Third Party Logistics and Others Logistics) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016  2024, the market in terms of revenue was valued at USD 8183.46 billion in 2015, is expected to reach USD 15522.02 billion by 2023, growing at a CAGR of 7.5% from 2015 to 2024, the market in terms of volume was valued at 54.69 billion ton in 2015, is expected to reach 92.10 billion ton by 2024, growing at a CAGR of 6.0% from 2016 to 2024.

Logistics market includes all the activities of the supply chain such as transportation, customer service, inventory management, flow of information and order processing. Some other activities of the supply chain are warehousing, material handling, purchasing, packaging, information and maintenance among others.

One of the biggest drivers of the logistics market is due to investment in technological innovation. Automated material handling equipment, trailer seals, GPS, warehouse control software, warehouse management software, biometrics and RFID are different technologies that will help companies to run their business of logistics services more proficiently over the anticipated period. For example, in 2014, Deutsche Post DHL signed an agreement with Escher Group, which assisted DHL modernize its network by initiating easier parcel delivery and collection in Germany.

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Based on the various transport infrastructures, the logistics market is segmented into road transport, waterways transport, rail transport and air transport. Road freight transport is the most widely used transport infrastructure globally and it is vital to the social integration and economic development of various counties. Flexibility of operations, easy accessibility, reliability and door-to-door service has gained road transport an increasingly higher share of both freight traffic and passenger transport modes. With improved road infrastructure in majority of the economies such as North AmericaEurope and Asia Pacific, road transport is the most favorable mode of logistic transport. For example, in the 2016 budget, the National Highway Authority of India (NHAI) along with the Pradhan Mantri Gram Sadak Yojana (PMGSY) is expected to invest USD 14527.5 million during 2016-17 to improve road infrastructure and improve connectivity between rural and urban areas. Owing to ongoing development of roads in different regions primarily in Asia Pacific and RoW and the cost effectiveness of road transport, it expected to remain the most preferred transport medium for logistics in the coming years.

Based on the various logistics model types, the logistics market is segmented into first party logistics, second party logistics, third party logistics and others. Currently, many multinational companies are operating on a large scale from manufacturing to distributing of goods. This makes it difficult for the manufacturers to manage the supply chain and thus organizations prefer to outsource their complete logistics activities or some activities to a third party logistics service provider. At present, geographical expansion is a key strategy of many organizations. To achieve this, MNC’s open new distribution centers across different countries in the world, which require efficient logistics services, thereby, fueling the demand for logistics. Any trader, manufacturer, importer/exporter, distributor, retailer or wholesaler having goods moved from their own place of origin to another place. In addition, 1st party logistics are companies, which have their logistics chain. 1st party logistics is an individual that needs to have freight, cargo, goods, merchandise or produce transported from a point one to a point two. A 1st party logistics can be a trader, manufacturer, importer/exporter, distributor, retailer or wholesaler in the international commerce field.

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By geography, the logistics market is have been classified into four regions namely North AmericaEuropeAsia-Pacific, and Rest of the World (RoW). Currently, Asia Pacific held the major share of the market, followed by North AmericaEurope and Rest of the World (RoW). China is the largest logistics market in the Asia Pacific region. The primary factor driving the growth of the market in China is the huge population in the country. In addition, availability of logistics products in China is further driving the growth of the market in the country.

Key players profiled in this report include J.B. Hunt Transport Services (United States), C.H. Robinson Worldwide, Inc. (United States), Ceva Holdings LLC (United Kingdom), FedEx Corp. (United States), United Parcel Service, Inc. (United States), Expeditors International of Washington Inc. (United States), XPO Logistics Inc. (United States), Kenco Group (United States), Deutsche Post DHL Group (Germany), Americold Logistics, LLC (United States) and UTi Worldwide Inc. (United States) among others.

Research PR: http://www.transparencymarketresearch.com/pressrelease/logistics-market.htm


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