Impact of Covid-19 on Logistics Industry Benchmarking the Sudden Strategy Change by Top 50 Companies in the World

Global logistics market holds a vital scope for growth globally. Increasing applications of logistics market in the various modes and end user industry is expected to fuel growth in the coming years. Roadways are one of the key components of modes of transportation and multimodal transport. It accounts for nearly 47.29% of the overall mode of transportation used in the world logistics market. The segment contributed highest share in total logistics market owing to its speed transportations and flexibility.

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Logistics is widely used across industry sectors such as high-tech machines, automobile sector, pharmaceutical sector and other. Presently, increasing in global trade activities of the developing economies and global logistics infrastructure and advancement in information technology and transportation sector are some of the factors that are majorly driving the market. Moreover, rise in adoption of green logistics solutions is expected to provide lucrative opportunities to market players. Roadways is the leading type in the global logistics market, and is expected to maintain this trend throughout the forecast period. However, waterways segment is expected to witness significant growth in the future, owing to the convenience, speed, and flexibility.

A new report published by Allied Market Research, titled, Logistics Market by Mode of Transport, and End-user Industry: Global Opportunity Analysis and Industry Forecast, 20142022, projects that the global logistics market is anticipated to reach $12,256 billion by 2022 with a CAGR of 3.48% from 2016 to 2022. Asia-Pacific dominates the global market in terms of revenue, accounting for more than 34% share of the global market, followed by LAMEA.

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Among end-user, manufacturing segment dominated the global market in 2014, accounting for about 26% share in the total revenue of logistics market. Procurement of raw material and handling them to manufacturers for the production is a growth factor for world logistics market by manufacturing industry. However, healthcare segment is expected to grow at the highest CAGR of 5.04% during the forecast period due to increase in demand for durable devices with enhanced efficiency.

Asia-Pacific region was the major revenue contributor in 2014, and is expected to maintain its dominance throughout the forecast period. This is attributed to the rise in adoption of green logistics solutions. Moreover, advancement in information technology and transportation sector would boost the growth of the logistics market, especially in the Asian countries, such as China, Japan, and India.

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LAMEA is projected to be the fastest growing region during the analysis period, owing to increase in adoption of logistics in healthcare and automotive industry. Moreover, technological advancements to overcome high inventory cost would offer lucrative opportunities for market players in the near future.

Key Findings of the Study
o In 2014, roadway segment dominated the global logistics market in terms of revenue, and is projected to grow at a CAGR of 3.33% during the forecast period.
o Manufacturing segment dominated the global logistics market, accounting for about 26% share in 2014.
o China is the major shareholder in the Asia-Pacific logistics market, accounting for about 59% share.

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