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Logistics is generally supplied chain management part with a detailed organization and implementation of a complex operation. It includes the movement of goods and information between the provider and the receiver. Moreover, logistics is the management of the flow of things between the point of origin and the point of consumption in order to meet requirements of customers or corporations. Increasing E-commerce industry across the globe is driving the demand for Logistics Industry. The strong consumer demand for a variety of product and the availability of different kinds of goods, together drive the growth of the online shopping market. Additionally, rising trade-related agreements is also fuelling the growth of the market. The free trade agreement has reduced the duties and taxes.
The global Logistics Industry is expected to grow at a CAGR of 7.2% during the forecast period.
Recently, Deutsche Post DHL signed an agreement with Escher Group, which assisted DHL to modernize its network by initiating easier parcel delivery and collection in Germany. However, high inventory cost & less space for warehousing are the factors restraining the market growth.
Based on the end user, the market is segmented into Industrial and manufacturing, retail, healthcare, oil and gas, and others. The manufacturing segment is accounted for the largest market share. Factors such as the policy reforms that have improved the ease of doing business along with the easy availability of cheap labor contribute to the growth of the market. Retail is another major end user of the market and is expected to grow at a rapid pace during the forecast period.
Asia Pacific Region Dominates the Global Logistics Industry
Geographically, the global Logistics Industry is divided into four major regions: North America, Europe, Asia Pacific, and Rest of the World. The Asia Pacific accounted for the largest market share in 2016, followed by North America and Europe. It is expected to grow at the highest CAGR during the forecast period. Increased adoption of outsourced logistics services in the region driving the growth of the market. Furthermore, increased imports and exports along with a huge demand for logistics services due to the economic growth and urbanization drive manufacturers to trade across the globe. China, Japan, India, Australia, and Indonesia are the major markets in Asia Pacific region. China is the largest Logistics Industry in the region mainly due to a huge population in the country and the presence of a large manufacturing base.
North America is the second largest region in the market. Increasing trade activities between the Americas and Europe is driving the growth of the market in the region. Furthermore, rising demand for foreign goods in Indonesia, Thailand, and India has strengthened the trade relations with the U.S. Europe is another major region in the market. Germany, the U.K., and France are the major Logistics Industry in the region.
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The prominent players in the global Logistics Industry include C.H. Robinson Worldwide, Inc. (U.S.), Ceva Holdings LLC (U.K.), FedEx Corp. (U.S.), XPO Logistics Inc. (U.S.), Expeditors International of Washington, Inc. (U.S.), DHL International GmbH (Germany), DSV Global Transports and Logistics (Denmark), A.P. Moller – Maersk (Denmark), Schenker AG (Germany), GEODIS (France), DTDC Express Limited (India) and other.
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