LONDON–(BUSINESS WIRE)–Jul 28, 2020–
The global logistics market is expected to grow by USD 95.42 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 2%.
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Technavio has announced its latest market research report titled Global Logistics Market 2020-2024 (Graphic: Business Wire)
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Read the 120-page report with TOC on “Logistics Market Analysis Report by End-user (Consumer goods, Automotive, Food and beverage, Healthcare, and Others), Geography (APAC, North America, Europe, MEA, and South America), and the Segment Forecasts, 2020-2024”.
The market is driven by increasing cross-border trade. In addition, the use of blockchain with logistics is anticipated to boost the growth of the logistics market.
Many countries across the world are focusing on increasing their cross-border trade to boost the economy. This has increased the number of trade corridors across the world. For instance, in February 2019, India signed MoU with Russia to fast-track the development of the International North-South Transport Corridor to facilitate smoother connectivity to the region via Iran. The increase in the number of such economic corridors is allowing enterprises to transport products such as apparel, electronics, vegetables, and fruits across borders and expand their business both in terms of geography and demographics. These factors have increased the demand for logistics services, which is driving the growth of the market.
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Major Five Logistics Companies:
C.H. Robinson Worldwide Inc.
C.H. Robinson Worldwide Inc. operates its business through segments such as North American Surface Transportation, Global Forwarding, and All Other and Corporate. The company offers logistics services such as ocean shipping, air freight, and truckload.
Deutsche Bahn AG
Deutsche Bahn AG operates its business through segments such as DB Long-Distance, DB Regional, DB Arriva, DB Cargo, DB Schenker, DB Netze Track, DB Netze Stations, DB Netze Energy, and Other. The company offers logistics services such as land transport, air freight, and ocean freight through Schenker AG.
Deutsche Post DHL Group
Deutsche Post DHL Group operates its business through segments such as Post & Parcel Germany, Express, Global Forwarding, Freight, Supply chain, and eCommerce Parcel. The company offers freight shipping via air, ocean, road, and rail.
DSV Panalpina A/S
DSV Panalpina A/S operates its business through segments such as Air & Sea, Road, and Solutions. The company offers logistics services such as air freight, sea freight, and road transport.
FedEx Corp. operates its business through segments such as FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. The company offers logistics services such as truckload.
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Logistics Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Consumer goods
- Food and beverage
Logistics Market Geography Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Related Reports onIndustrialsInclude:
Global E-Commerce Logistics Market – Global e-commerce logistics market by service (transportation, warehousing, and others) and geography (APAC, Europe, MEA, North America, and South America).
Global Defense Logistics Market – Global defense logistics market by solution (military infrastructure, military logistics services, and military FMS) and geography (APAC, Europe, MEA, North America, and South America).
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INDUSTRY KEYWORD: TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Technavio Research
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PUB: 07/28/2020 03:45 PM/DISC: 07/28/2020 03:45 PM