The global automotive logistics market is accounted to US$ 203.0 Bn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account to US$ 370.8 Bn by 2027

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Nov 11, 2019, 09:35 ET

NEW YORK, Nov. 11, 2019 /PRNewswire/ --

The global automotive logistics market is accounted to US$ 203.0 Bn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account to US$ 370.8 Bn by 2027. The global automotive logistics market is experiencing steady growth in the forecast period. The continuously growing number of partnerships among automobile manufacturers and logistics partners has led to an increase in demand and the number of automotive Logistics. With the increasing partnerships, automobile manufacturers and component manufacturers are facilitated with better control in managing inbound as well as outbound transportation service, shorter lead times, and timely deliveries. The increasing number of partnerships among automotive manufacturers and logistics companies are positively impacting on the growth of automotive logistics market. For instance, in 2019, Fiat Chrysler Automobiles (FCA) extended its contract with CEVA Logistics in Brazil to transport FCA's aftermarket components. According to the partnership, CEVA Logistics agreed to carry FCA's aftermarket components to 500 Fiat dealers across Brazil. Thus, impacting the growth of automotive logistics market in the current scenario.

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A key trend which is expected to predominantly affect the automotive logistics market in the coming years is the integration of smart technologies and autonomous vehicles to boost the automotive logistics market.The integration of advanced technologies would foster the businesses of the logistics companies transporting automobiles and automotive components.

Cloud technology is one of the key technologies which is anticipated to furnish the logistic companies growth in the years to come.Cloud technology offers several benefits to the transportation company, such as better customer experience in terms of speed, lower prices, and the ability to track goods.

Cloud technology facilitates logistics service providers to manage their businesses efficiently, allowing continuous communication with suppliers and customers. These factors are projected to gain traction in the coming times having a significant impact on the automotive logistics market.

Automotive logistics market by services is segmented into transportation, warehousing, packaging processes, integrated service, and reverse logistics.Transportation holds the highest market share.

Many companies, such as DHL Group, uses SmartTrucking to meet the customer's changing demands.Dionisio takes another development in the field for automotive logistics.

Dionisio a ship for automobile transport is docked in Mazatlan, Sinaloa.The ship is responsible for transporting 4800 Mitsubishi vehicles from Japan to Mexico.

Automotive players are using advanced transportation services to ensure on-time delivery of automobiles. These factors are expected to drive the transportation services for automotive logistics market in the coming years.

The overall automotive logistics market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the automotive logistics market.

Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the automotive logistics industry.

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