According to a new market report published by Acute Market Reports, “Logistics Market (By Mode of Transportation (Roadway Logistics, Waterway Logistics, Railway Logistics, and Airway Logistics), By Logistics Model (1st Party Logistics, 2nd Party Logistics, 3rd Party Logistics, and Others)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2021 - 2029” the global logistics market is expected to grow at a CAGR of 6.5% during the forecast period 2021 – 2029.
Browse the full Logistics Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2021 - 2029 report at https://www.acutemarketreports.com/report/logistics-market
Market Insights
Logistics is an integral component of supply chain management that is responsible for planning, implementation, control and flow of goods/products from the point of origin to the point of consumption. The swift growth in the e-commerce sector has had positive impact on the growth of the logistics market worldwide. The growth in the e-commerce sector has coincided with the advent of efficient supply chain management solutions that enable logistics professionals to create transportation efficiencies, offer real-time dashboards, control freight costs, and handle several other tasks effectively, enabling them to take better and quick decisions. Awareness regarding these benefits has only aided market growth over the last few years. With the expansion in breadth of offerings of manufacturers, robust and reliable logistic service holds significant importance for firms of all sizes and across varied industries.
Competitive Insights:
The global logistic market is moderately competitive and highly fragmented across varied modes of logistics. The logistics service providers are required to understand distinct differences and requirements of different modes of transportation and industry verticals. Some of the leading players identified in the global logistics market include C.H. Robinson Worldwide, Inc., J.B. Hunt Transport Services, Ceva Holdings LLC., United Parcel Service, Inc.., FedEx Corp., Expeditors International of Washington Inc., Kenco Group, Americold Logistics, LLC, and UTi Worldwide Inc. The global logistics market also includes number of niche players, which account for trivial market share individually. We expect the future logistics market to be driven by supply chain analytics. Thus the competitive rivalry among current market players, which is currently moderately high, is expected to elevate in the coming years.
Logistic Model:
The 2PL & 3PL segments are the most preferred logistics models worldwide. Factors including the increase in intra-regional trades and off-shoring (relocation of manufacturing facilities to other countries with lower labor costs) are collectively contributing towards the growth of the both domestic and international transportation logistics. The proliferation of internet retailing has provided the necessary impetus to manufacturers outsourcing their logistic services to 2PL and 3PL providers.
