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.
Worldwide Logistics Services Market Analysis to 2027 is a specialized and in-depth study of the Logistics Services Industry with a focus on the global market trend. The report aims to provide an overview of global Logistics Services Market with detailed market segmentation by product/application and geography. The global Logistics Services Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the Logistics Services players and offers key trends and opportunities in the market.
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.
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Major Companies profiled in this report includes,
- 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
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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Reason to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Logistics Services Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Logistics Services Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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