The Logistics Market is experiencing significant growth over the forecast period. This is attributed to the growing adoption of mobile health applications, the rising amalgamation of advanced technologies including artificial intelligence (AI) and Internet of Things (IoT), increasing initiatives by the government and private sector, and technological advancements for developing advanced digital solutions.
Some of the major factors responsible for the growth of the global logistics market include the surging technological developments in the industry, which include the execution of machine learning and artificial intelligence techniques in data analytics to deliver accurate dynamic routing and the acquisition of cloud technology to allow the platform solutions which offers scalability and flexibility in the organization’s operation. Also, the expansion in the worldwide trade activities, accelerating internet penetration, and growing e-commerce industry are other drivers strengthening the logistic market size.
Moreover, the augmenting demand for logistics across different industry verticals to improve the transparency and efficiency of the supply chain, reduce cost and boost the revenue with the rising volume of international business activities will fuel the market demand. Also, the growing penetration of the internet of things (IoT) in the logistics industry will decrease security issues such as counterfeiting, optimized usage of asset and accurate monitoring of workflow and resources and will further promote market growth. The rising expectation of consumers to get the shipments flexibly and faster, along with enhanced transparency at less price, and the entrance of new players in the sector to use new technology and enter the logistics industry, will contribute to the market growth by improving the operational process performed by these companies. However, as per the logistic market analysis, the inadequate warehouse space and huge inventory costs are likely to obstruct the market.
Know more about the Logistics Market:
Based on the end-use industry, manufacturing is predicted to witness a higher CAGR during the forecast period due to the growing acceptance of logistics in this industry, led by several benefits that include quality control, competitive advantage, reduced time of delivery, and aid in maintaining good customer relations.
On the basis of the logistics model, the third-party logistics segment is anticipated to expand at a faster CAGR over the forecast period. This is due to their increased use by the companies for evasion of distribution infrastructure investments because they have already invested in the systems & buildings, reduced freight operations accountability, and avoided maintenance & fleet investments.
Based on the regional coverage, Asia-Pacific is expected to lead the market during the forecast period. This is primarily attributed to the increasing export and import to activities and the economic environment. Moreover, the expansion in GDP rates, rapid urbanization, and more manufacturer bases are propelling the market growth.
Various notable players operating in the market include C.H. Robinson Worldwide, Inc., Deutsche Post AG, DB Schenker, A.P. Moller – Maersk, Kuehne + Nagel, DSV, United Parcel Service of America, Inc., GEODIS, Supply Chain Solutions, among others.
The global logistics market has been segmented on the basis of mode of transport, end-user industry, logistics model, and region. Based on the mode of transport, the market is segmented into airways, railways, waterways, and roadways. Based on the end-user industry, the market is segmented into the trade & transportation, telecommunication, healthcare, government & public utilities, retail, manufacturing, BFSI, media & entertainment, information technology, and others. Based on the logistics model, the market is segmented into first party logistics, second party logistics, third party logistics, and fourth party logistics.
Logistics Market Segmentation:
Logistics Market by Transport:
- Airways
- Railways
- Waterways
- Roadways
Logistics Market by End-User Industry:
- Trade & Transportation
- Telecommunication
- Healthcare
- Government & Public Utilities
- Retail
- Manufacturing
- BFSI
- Media & Entertainment
- Information Technology
- Others
Logistics Market by Logistics Model
- First Party Logistics
- Second Party Logistics
- Third Party Logistics
- Fourth Party Logistics
Logistics Market by Region:
- North America Logistics Market (Option 1: As a part of the free 25% customization)
- North America Market by Mode of Transport
- North America Market by End-User Industry
- North America Market by Logistics Model
- United States Telehealth Market
- Canada Telehealth Market
- Europe Logistics Market (Option 2: As a part of the free 25% customization)
- Europe Market by Mode of Transport
- Europe Market by End-User Industry
- Europe Market by Logistics Model
- UK Telehealth Market
- Germany Telehealth Market
- France Telehealth Market
- Spain Telehealth Market
- Rest of Europe Telehealth Market
- Asia-Pacific Logistics Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Market by Mode of Transport
- Asia-Pacific Market by End-User Industry
- Asia-Pacific Market by Logistics Model
- China Telehealth Market
- India Telehealth Market
- Japan Telehealth Market
- Rest of APAC Telehealth Market
- RoW Logistics Market (Option 4: As a part of the free 25% customization)
- RoW Market by Mode of Transport
- RoW Market by End-User Industry
- RoW Market by Logistics Model
- Brazil Telehealth Market
- South Africa Telehealth Market
- Saudi Arabia Telehealth Market
- UAE Telehealth Market
- Rest of world (remaining countries of the LAMEA region) Telehealth Market
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