BANGALORE, India, May 26, 2020 /PRNewswire/ -- In a general business sense, logistics is managing the flow of things between the point of origin and the point of consumption to satisfy customer or corporate requirements. Global logistics industry growth is directly linked to the advancement of the flow of foreign trade and the current economic climate. It involves integrating information, transport, inventory, warehousing, handling materials, packaging, and protection. Favorable government trade policies have resulted in increased demand for logistics services, creating opportunities for expansion to existing vendors.
From 2016 to 2022, the global logistics market size is projected to grow at a CAGR of 3.48 percent to reach USD 12,256 Billion by 2022. The report will cover the forecast till 2026.
Due to the recent COVID 19 impact, logistics companies are concentrating on the continued supply of essential commodities, the creation of supply chain stabilization task force, and distribution of personal protective equipment. Most countries are under pressure due to a lack of supply because of panic buying. As a result, logistics companies are actively monitoring the current situation, and new approaches are being implemented to ensure continued supply.
Rising Internet-based retailing is boosting the growth of the logistics market size. The exponential growth of online shopping worldwide is acting as a significant driver of the logistics market. Furthermore, cross-border sales are proved to be a significant driver of overall e-commerce growth, which in turn will result in the growth of the logistics market.
Exponentially proliferating the Internet of things (IoT) in the logistics sector enables freight companies and consumers to direct access to the company network via the Internet. The logistics infrastructure is constantly upgraded to meet the need. Increasing the use of RFID, Bluetooth, and other newly introduced technologies such as Drone Delivery and Driverless vehicles are being witnessed in logistics services. These growing technological advancements act as the catalyst to the growth of the logistics market size.
The main factors driving globalization are competitive business dynamics and change in the global economy. As globalization is on the rise, different trade-related activities are experiencing an increase. Thus, it is becoming difficult for manufacturers and distributors to keep an effective track of these activities. For logistics companies, this aspect is expected to drive the logistics market size.
High inventory prices and insufficient warehousing space are expected to hamper global logistics market growth to some degree. Additionally, the introduction of environmentally friendly logistics technologies creates opportunities for target market players.
The Asia Pacific accounts for the largest logistics market share in 2016, followed by North America and Europe. In the forecast period, Asia Pacific is expected to grow at the highest CAGR. This growth can be attributed to the increased adoption of outsourcing logistics services.
GLOBAL LOGISTICS MARKET KEY SEGMENTATION
The Global Logistics Market Is Segmented Based On Mode Of Transport, End User Industry And Geography.
In 2017, the global cash logistics market size was valued at USD 16.5 Billion and was projected to reach USD 30.707 Billion by 2025, recording a 7.8 percent CAGR from 2018 to 2025. LAMEA represented the highest share on the global cash logistics market in 2017.
Cash logistics service refers to the physical movement and cash handling from one location to the next. It includes services such as cash-in-transit, cash management, and ATM replenishment. Cash-in-transit systems provide physical transfer of the cash from one location to another.
This report studies the market size of the Cash Logistics Market by participants, countries, product types, and end industries. This study also analyses the global competitive environment, market drivers and patterns, opportunities and threats, risks, and barriers to entry, distribution channels, distributors, and the Five Forces Analysis by Porter.
The global cold chain logistics market size was valued at USD 159.988 Billion in 2018 and is projected to reach USD 585.1056 Billion by 2026, registering a CAGR of 17.9% from 2019 to 2026.
A cold chain is a combination of temperature-controlled surface and supply chain transport. This refers to the freezing methods intended to preserve product quality and shelf life. It includes products such as fresh agricultural products, fish, frozen food, photographic film, chemicals, and prescription drugs.
This report studies the market size of the Cold Chain Logistics by participants, countries, product types, and end industries. This study also analyses the global competitive environment, market drivers and patterns, opportunities and threats, risks, and barriers to entry, distribution channels, distributors, and the Five Forces Analysis by Porter.
Logistics Automation Market size is expected to grow from USD 413.562 Billions in 2018 to USD 832.156 Billions by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 10.50%.
Logistics automation is the application of computer software or automated machinery to make logistics operations more efficient. Focusing on a single node within a larger logistics network allows structures to be highly customized to that node 's requirements.
E-Commerce Logistics Market size is expected to reach USD 535.895 Billion by 2022, supported by a CAGR of 21.2%. The report will cover the forecast till 2026.
Ecommerce logistics refers to the processes involved in stocking and shipping inventories for an online store or marketplace, including inventory management and online order picking, packaging, and shipping.
There are several factors that increase global e-commerce logistics market size, including increasing E-trade, smaller and simpler supply chains, new and creative distribution methods.
The global Connected Logistics market size was valued at USD 16.774 Billion in 2016, and is projected to reach at USD 27.722 Billion by 2023, growing at a CAGR of 7.60% from 2017 to 2023.
The increased need for automation, the need to minimize administrative process costs, IoT & Logistics 4.0 penetration and the increased demand for connected devices complement the growth of the Connected Logistics Market size.
Connected Logistics provides logistics companies with real-time alerts, interoperability, and easy access to the information they need. It provides an interface to integrate multiple devices, which enables informed decision making. The expanding demand for smart transport solutions is expected to drive growth in the Connected Logistics industry.
In 2019, the global Third-party Logistics (3PL) Market Size was valued at USD 1.02771 Billion and was projected to reach USD 1.789.94 Billion by 2027, at a CAGR of 7.1 percent from 2020 to 2027.
3PL is the mechanism by which the producer outsources logistics and distribution-related activities. A 3PL company provides specialized services such as inventory management, cross-docking, door-to-door delivery, and product packaging. The demand for 3PL service, due to the advancement of the e-commerce industry, is expected to see substantial growth.
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources