News: Top 2021 trends and Covid-19 Impact has brought huge changes in the Logistics Market
According to a new report published by Research Dive, the global logistics market is anticipated to garner a revenue of $13,933.7 billion by the end of the forecast period.
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The global logistics market is segmented on the basis of the transportation type, logistic type, application, end-user, and region. The report provides detailed information about drivers, opportunities, restraints, segmental analysis, and competitive players of the market. As per our analysts, various benefits offered by logistics such as running expenses and rate of consumer satisfaction are the major factors that are driving the market growth in the predicted period. In addition, logistical advancements such as handling materials through biometrics, GPS, and others have benefited towards the growth of the market.
The Waterways Transportation Type is Anticipated to be the Fastest Growing Segment in the Global Market
Based on the transportation type, the global logistics market is fragmented into airways, waterways, railways, and roadways. Among these, the waterways transportation type is anticipated to fastest growing type owing to the reduced transpiration cost as compared to other means of logistical services.
The Second Party Logistic Type is Foreseen to grow with Healthy CAGR by Contribution to Maximum Revenue in the Forecast Period
On the basis of logistic type, the global market is divided into first party, second party, and third party. Out of these, the second party type has dominated the market in terms of revenue generation and is anticipated to continue its dominance until 2027. Second party logistic type has enhanced the efficiency of logistic organizations, reduces hidden expenses, aids distribution of products efficiently, and enhances versatility. Thus these are the factors that are contributing towards the growth of the second party logistic type in the forecast period.
The Commercial Application Type is Predicted to Dominate the Market in Terms of Revenue Generation
On the basis of the application, the global logistics market is classified into residential, commercial, and industrial. The commercial application type is predicted to dominate the market in terms of revenue generation and is foreseen to continue its dominance till 2027. Commercial application type has improved the customer satisfaction and improved visibility is the factors that are contributing towards dominance.
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The Retail Sector will have Lucrative Growth Opportunities in the Predicted Period
On the basis of end-user, the global market is divided into industrial & manufacturing, retail, healthcare, oil & gas, and others. The retail sector has dominated the market and is foreseen to offer lucrative growth opportunity in the forecast period. Enhanced visibility and rapid growth in the online marketing as enhanced the demand of the retail sector. In addition, online retail market involves better viewing and ordering aids ordering of good over smart devices.
Regional Outlook and Major Market Players
Global logistics market is studied across North America, Europe, Asia-Pacific, and LAMEA. Among these, the Asia-Pacific region has dominated the global market share and holds significant position in terms of revenue generation. Rising foreign trade and favorable economic conditions have contributed toward this dominance.
The prominent players in the global logistics market are Americold Logistics LLC, C.H. Robinson Worldwide Inc., CMA CGM S.A, The Deutsche Post AG, Expeditors International of Washington Inc., FedEx Corp., J.B. Hunt Transport Services, Kuehne + Nagel International AG, Penske Logistics, SNCF Logistics, and others.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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