Portland, OR, March 16, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global logistics market was pegged at $7.64 billion in 2017, and is anticipated to reach $12.97 billion by 2027, registering a CAGR of 6.5% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Growing e-commerce industry coupled with increase in reverse logistics operations, rise in trade related agreements, surge in the number of tech-driven logistics services, and mounting adoption of IoT enabled connected devices drive the growth of the global logistics market. On the other hand, poor infrastructure, higher logistics costs, and lack of control of manufacturers on logistics service impede the growth to some extent. Nevertheless, emergence of last mile deliveries is expected to pave the way for numerous opportunities in the coming years.
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Covid-19 scenario-
- Logistics enterprises which are directly involved in the packing and loading of goods were adversely affected during the initial phase of the pandemic. Flight terminations and travel bans also led to distorted supply chain and logistics across the globe.
- However, as the lockdown measures have slackened off, the manufacturing activities are gradually being reinstated, and the global logistics market is anticipated to revive soon.
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The global logistics market is analyzed across mode of transport, end use, and region. Based on mode of transport, the roadways segment contributed to more than two-fifths of the total market share in 2017, and is expected to lead the trail by the end of 2027. The waterways segment, on the other hand, would grow at the fastest CAGR of 7.4% during the forecast period.
Based on end-use, the manufacturing segment accounted for nearly one-third of the total market revenue in 2017, and is projected to retain its dominance by 2027. At the same time, the healthcare segment would manifest the fastest CAGR of 9.3% by 2027.
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Based on region, Asia-Pacific garnered the highest share in 2017, generating nearly half of the global logistics market. The market across the same region would also portray the fastest CAGR of 6.9% throughout the forecast period. The other provinces covered in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global logistics market report include C.H. Robinson Worldwide, Inc., Geodis, DB Schenker, United Parcel Service, Inc., Deutsche Post AG (DHL Group), A.P. Moller–Maersk, DSV, FedEx, Kuehne+Nagel, and Nippon Express. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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