Logistics Service Market by Growing Technology Trends 2027 – CEVA Logistics, PANALPINA WORLD TRANSPORT (HOLDING), United Parcel Service (UPS), C.H. Robinson Worldwide, A.P. MOLLER – MAERSK, Nippon Express, FedEx, DB Schenker

An off-the-shelf report on Logistics Service Market which has been compiled after an in-depth analysis of the market trends prevailing across five geographies (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). Various segments of the market such as type/components/ application/industry verticals/ end-users are analyzed with robust research methodology which includes three step process starting with extensive secondary research to gather data from company profiles, global/regional associations, trade journals, technical white papers, paid databases etc. followed by primary research (interviews) with industry experts/KOLs to gain their insights and views on current scenarios and future scope of the market as well as validating the secondary information, further internal statistical model is used to estimate the market size and forecasts till 2027.

The Global Logistics Service Market revenue accounted for US$ 1,122.58 Bn in 2018 and is expected to grow at a CAGR of 6.9% during the forecast period 2019 – 2027, to account to US$ 2,029.38 Bn by 2027. Globally, the market continue to witness a surge in demand for logistics services owing to rise in trade activities especially from emerging economies.

As per the LPI (Logistics Performance Index) published by the World Bank, Europe’s score was 3.68, which was the relatively highest score in 2018. Europe’s leadership as the LPI score is majorly attributed to its robust infrastructure, custom services, logistics competence, timeliness and tracking and tracing abilities.

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Key Benefits-

• To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Logistics Service Market

• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)

The timeliness factor has been derived as a vital contributor to Europe’s position in the global LPI, which was 4.04. Furthermore, snowballing interest of the manufacturing, automotive, retail, and other industries in outsourcing of the logistics services has also fueled the growth of the logistics service market in Europe.

Besides, persistent propulsion in industrialization 4.0 is also expected to contribute to the growth of the logistics service market, as the production index of the region enhances and the demand for timely and complicated delivery would also increase. Warehousing, inventory management, and transportation are some of the popular logistics services that are highly outsourced in the European region. However, the key challenge faced by the logistics service providers in the region is to gain profits despite the surging price pressure from the end-consumers.

Leading Key Players:

• CEVA Logistics
• PANALPINA WORLD TRANSPORT (HOLDING) LTD.
• United Parcel Service (UPS)
• C.H. Robinson Worldwide, Inc.
• A.P. MOLLER – MAERSK
• Nippon Express
• FedEx
• DB Schenker
• DHL International GmbH
• KUEHNE + NAGEL

The global manufacturing industry has witnessed rapid growth in recent times owing to huge investments coming up from Governments of various countries and especially the developing economies. As per the China Federation of Logistics and Purchasing (CFLP), the global manufacturing purchasing managers index (PMI) accounted 55.1 in October 2017, which was down from 55.9 in September 2017 however, still at a comparatively high level. The PMI index remained above 53.5 since the beginning of 2017, signifying a steady recovery of the manufacturing sector in developed countries. The services offered by Logistics Services providers add substantial value to the manufacturing companies.

These firms enabled different companies to reduce weak points that outcomes in loss of revenue or profits and further help to assure maximal profitability. Logistics service providers specialize in network analysis, mode network optimization, management of vendor compliance, and other management operations. In contrast with this, it is challenging for the core companies to gain such expertise such as inventory management & storage, assembly needs, or shipping, etc. in every business division.

Globalization has led to increasing domestic and international trade relations between nations. Further, as many international companies lean towards globalization and market expansions, logistical challenges have become more complex than ever. The logistical complexities have multiplied mainly due to the diverse nature of consumer demands observed in different regions of the world pertaining to any product.

For successful market expansions, organizations focus on increasing the product assortments catering to the needs of the local market, giving rise to a highly diverse portfolio of products. The larger the diversity, the higher is the complexity of the supply chain for the organization to manage efficiently in delivering products as well as services.This factor is foreseen to increase the procurement volume of smart kitchen appliances during the forecast period, thereby, helping the logistics service market to foster during the coming period.

The Logistics Service Market by logistics provider is further segmented into first & econd party logistics, third party logistics, fourth party logistics, and fifth party logistics. The third party logistics dominated the global logistics service market in 2018 and is expected to continue its dominance throughout the forecast period from 2019 – 2027. The growing popularity of outsourcing the non-essential supply chain and other logistics process among different end users, is catalyzing the growth of third party logistics segment in a logistics service market.

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Logistics Service Market – Strategic Insights

Market Initiatives was observed as the most adopted strategy in the global logistics service market. Few of the recent market initiatives are listed below:

2019: The company, Maersk became the first container shipping company to offer digital Ocean Customs Clearance. The solution provides downstream benefits of full governance and compliance, eliminates the need to provide a quote as pricing is displayed online, saving three to five minutes per quote. It is currently present in Germany, France, Denmark, The Netherlands, Poland, United Kingdom and Spain. However, by the end of 2019, it is expected to become globally operable.

2019: CEVA Logistics consolidated partnership with Fiat Chrysler Automotive (FCA) in Brazil by renewing its existing business partnership with an additional four and a half year contract.

2018: CEVA Logistics is selected by Saraiva for expanding its distribution network across South-East Brazil. Through this venture the CEVA able to experience quick work and delivery practices to its customers across the region.

GLOBAL LOGISTICS SERVICE MARKET SEGMENTATION

Global Logistics Service Market – By Mode of Transportation

• Roadways
• Railways
• Waterways
• Airways

Global Logistics Service Market – By Logistics Provider
• First & Second Party Logistics
• Third Party Logistics
• Fourth Party Logistics
• Fifth Party Logistics

Global Logistics Service Market – By Organization Size
• Small & Medium Enterprise
• Large Enterprise

Global Logistics Service Market – By End-user
• Government & Public Utilities
• Healthcare
• Industrial Manufacturing
• Retail & Consumer Goods
• Aerospace & Defence
•Others