Logistics Market to Generate $12.97 Billion by 2027, States the Report by Allied Market Research

A lead analyst at AMR highlighted the logistics market in Asia-Pacific is anticipated to remain lucrative, in terms of revenue, during the forecast period, owing to the growing e-commerce industry, rising adoption of outsourced logistics services, and high government support for development of logistics set-up.

Allied Market Research published a research report on the logistics market. The findings of the report states that the global market for logistics generated $7.64 billion in 2017, and is projected to reach $12.97 billion by 2027, witnessing a CAGR of 6.5% from 2020 to 2027. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenario for market players, investors, shareholders, and new entrants.

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“By end use, the manufacturing segment dominated the global logistics market in 2017, in terms of revenue, and the healthcare segment is anticipated to witness highest CAGR of 9.30% during the forecast period. By mode of transport, the roadways segment incurs higher share. Presently, Asia-Pacific is the highest revenue contributor, and is expected to continue this trend in the market during the forecast period, followed by North America.” said MayankHalmare, the Automotive and Transportation at Allied Market Research.

The report provides insights on drivers, restrains, and opportunities to help market players in devising growth strategies and capitalizing on opportunities.Developing e-commerce industry coupled with increase in reverse logistics operations, risein trade related agreements, surge in the number of tech-driven logistics services, and huge adoption of IoT enabled connected devices are the major factors propelling 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 along with logistics automation is anticipated to pave the way for lucrative opportunities in the future.

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The report provides a detailed scenario of impact of the Covid-19 pandemic on the logistics market globally. It is helpful for market players, new entrants, and investors to determine strategies as per the current scenario and improvisator the business model for the next few years. Organizations dealing with logistics were rigorously hampered during the first phase of the lockdown, since they are directly involved in the movement, storage, and flow of goods. However, the standard manufacturing activities have started being restored, as the government bodies across the world have come up with relaxations on the existing dictums. With this drift on board, the market is projected to revive soon.

The report offers detailed segmentation of the global logistics market based on mode of transport, end use, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to accomplish growth in the coming years.

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By mode of transport, the roadways segment generated more than two-fifths of the total market revenue in 2017, and is anticipated to retain its dominance by 2027. At the same time, the waterways segment would exhibit the fastest CAGR of 7.4% throughout the forecast period.

By end-use, the manufacturing segment garnered nearly one-third of the total market share in 2017, and is expected to dominate by the end of 2027. Simultaneously, the healthcare segment would cite the fastest CAGR of 9.3% by 2027.

By region, Asia-Pacific held the major share in 2017, contributing to nearly half of the global logistics market. The market across the same region would also cite the fastest CAGR of 6.9% during the forecast period. The other regions studied in the report include North America, Europe, and LAMEA.
Leading market players of the global logistics market analyzed in the report include Geodis, DB Schenker, United Parcel Service, Inc., Nippon Express, C.H. Robinson Worldwide, Inc., Kuehne+Nagel, Deutsche Post AG (DHL Group), A.P. Moller–Maersk, DSV, and FedEx.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

This release was published on openPR.