NEW YORK, Jan. 24, 2022 /PRNewswire/ -- Logistic Market Facts at a Glance-
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According to the recent market study by Technavio, the logistics market is expected to increase by USD 1546.95 billion from 2020 to 2025, at an accelerated CAGR of 5.08%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
APAC will register the highest growth rate of 43% among the other regions. China and Japan are the key markets for logistics in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
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Vendor Insights-
The logistics market is fragmented, and the vendors are deploying growth strategies such as focusing on product delivery through multiple distribution channels to compete in the market.
C.H. Robinson Worldwide Inc. - The company acquired Prime Distribution Services. Key hiring, CEO, and BU heads In September 2020, the company appointed Kermit Crawford as a new Director.
DSV Panalpina A/S - In December 2020, the company acquired Globeflight. In January 2020, the company partnered with Vestas on project transport and general freight.
FedEx Corp - The company joined forces to help transform commerce by combining the global digital and logistics network of FedEx with Microsoft's intelligent cloud.
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Regional Market Outlook
The logistics market share growth in APAC will be significant during the forecast period. China and India are the key markets for the logistics market in APAC. China and Japan are the key markets for logistics in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
The logistics market in APAC is expected to grow due to the presence of a large consumer base for both food and beverage and healthcare product suppliers. Healthcare spending in this region is increasing at a rapid pace, thanks to rising disposable incomes and an aging population in nations such as Japan and China. As a result, demand for temperature-controlled healthcare supplies such as biopharmaceuticals, vaccines, and clinical trial materials is increasing.
Furthermore, increased demand for organic food products is driving demand for cold chain logistics in the healthcare and food industries, as it helps maintain the shelf life and quality of these products.
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Latest Drivers & Trends Driving the Market-
The sale and acquisition of goods and services across international land borders are known as cross-border trade. Cross-border trade allows businesses to increase their reach geographically and demographically. Export and import of goods result in a rise in tax income, which contributes to a country's gross domestic product (GDP).
Cross-border commerce helps countries develop their economies. As a result, a number of countries have increased their cross-border trade. The number of trade corridors is increasing as cross-border trade grows. The demand for logistics will rise in tandem with the growth of cross-border trade, contributing to market share growth throughout the projection period.
The e-commerce business is fast expanding as the Internet becomes more widely used and smartphones become more widely available. The logistics industry is directly impacted by the rise of the e-commerce sector
Because people are spending less time in stores, the package that is delivered to their door is their first direct engagement with the brand. Because the flow of commodities is so reliant on the transportation and distribution network, logistics plays a crucial role. E-commerce businesses can get logistical services from vendors. Providers are also providing more reverse logistics choices than other vendors. During the projection period, demand for logistics will be driven by the rapid rise of the e-commerce industry.
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Logistics Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.08% |
Market growth 2021-2025 |
$ 1546.95 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.55 |
Regional analysis |
APAC, North America, Europe, MEA, and South America |
Performing market contribution |
APAC at 43% |
Key consumer countries |
US, China, Japan, Germany, France, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
C.H. Robinson Worldwide Inc., Deutsche Bahn AG, Deutsche Post DHL Group, DSV Panalpina AS, FedEx Corp., J.B. Hunt Transport Services Inc., Kenco, Kuehne + Nagel International AG, United Parcel Service Inc., and XPO Logistics Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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