Logistics Service Market to 2027 by Mode of Transportation (Roadways, Waterways, Rail and, Airways); Logistics Providers (First & Second Party Logistics, Third Party Logistics, Fourth Party Logistics, and Fifth Party Logistics); End-users (Government & Public Utilities, Healthcare, Industrial Manufacturing, Retail & Consumer Goods, and Aerospace & Defense, and Others); – Global Analysis and Forecast to 2027
The logistics services constitute the set of service or solutions related to the part of supply chain process, storage of goods, transportation, management and planning among other critical services provided to the various end-users. The services facilitate aid in efficient flow of goods, services from material sourcing, processing, manufacturing, and distribution for consumption process along with providing necessary consulting, management as well as optimization services. The report summarizes the results of the detailed, exhaustive research assessment carried out by The Insight Partners in the field of logistics service across different industry verticals. Also, the report covers logistics service market segmented by mode of transportation, organization size, logistics provider, and end-user across major geographical regions for enabling a superior understanding of the global logistics service market.
The logistics services market worldwide has been experiencing an intense growth, owing to the constant investments, new product development, and integration of futuristic technology in present scenario. The market for Logistics services consists of some well-established players across the globe, which invest huge amounts in order to deliver the most advanced product to the customers. The logistics service providers, particularly the third partly service providers are making significant growth in the market in terms of geographical expansion and technological advancements. For instance, 3PL firms these days are implementing several software based solutions in their operations in order to reduce the inefficiency and costs with saving time for operations. In addition, the implementation of speech recognition software in warehouse management system communications will support order turn-round and inventory records with reducing employee-training requirements. Along with this, acceptance of cloud-based technology in 3PL companies will respond demands by recognizing the need for customer access which is expected to better meet the seasonal trends efficiently.
The third party logistics continues to gain major traction across various end-user industries owing to growing popularity of outsourcing as well as achieving superior operation efficiencies. Furthermore, the increase in demand for shipping cost reduction & more focus on timely delivery management, reduction on company’s assets & permitting focus on core business, and advantage in managing seasonal variations are projected to drive the market for third party logistics during the forecast period. However, lesser control of manufacturers on logistic service and delivery process may adversely impact the market for third party logistics in near future. Moreover, the factor such as increase in adoption and growth of e-commerce in retail sector is projected to generate remarkable growth opportunity to the industry players. As a result, the third party logistics continue to provide numerous profitable business opportunities for the market players globally.
The global logistics service market is heavily fragmented owing to present of numerous small & medium players operating with limited regional scope. Furthermore, the presence of numerous globally leading market players specializing in limited service across different mode of transportation has further attributed in the fragmented nature of the market. However, companies the market does constitute some prominent market players such as CEVA Logistics, PANALPINA WORLD TRANSPORT (HOLDING) LTD., United Parcel Service (UPS), C.H. Robinson Worldwide, Inc., A.P. MOLLER - MAERSK, Nippon Express, FedEx, DB Schenker, DHL International GmbH, and KUEHNE + NAGEL to name a few prominent market players operating in the market.
The report segments the global logistics service market as follows:
Global Logistics Service Market - By Mode of Transportation
Global Logistics Service Market – By Logistics Provider
Global Logistics Service Market – By Organization Size
Global Logistics Service Market – By End-user
Global Logistics Service Market – By Geography
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