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Logistic industry can be considered as the wheel of globalization and competitive product availability for the increase in the number of global consumers. Asia-Pacific is the fastest emerging region owing to the economic development and dynamic business environment. Currently, Asia-Pacific is leading the global contract logistics market overtaking Europe. The growth in this region is attributed to the rising retail enactment, strong economic growth, and increase in disposable income.
Top Companies Covered in this Report:
1. Deutsche Post AG
3. DB Schenker
4. Hitachi Transport System, Ltd.
5. Kuehne + Nagel International AG
6. XPO Logistics, Inc.
7. Ryder System, Inc.
8. CEVA Logistics AG
9. Neovia Logistics Services, LLC
10. UPS Supply Chain Solutions
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What is the Dynamics of Contract Logistics Market?
Moreover, the increase in urbanization and growth in middle-class population have supported the domestic consumption of fast-moving consumer goods, household items, and luxury items. As a result, an increase in retail sales in Asia-Pacific is augmenting the growth of contract logistics market in the region. Rapid growth in the e-commerce sector and rise in foreign direct investment is also attracting numerous non-asset entrants and existing players in this region and further drive the contract logistics market.
What is the SCOPE of Contract Logistics Market?
Swift growth of manufacturing industry and their focus laid on core competencies, burgeoning needs for achieving cost efficiency, task optimizations & technological integrations pertaining to supply chain activities, and benefits in managing seasonal variations of products are projected to drive the market for contract logistics market during the forecast period. However, regional diversities and the complex nature of the supply chain may negatively impact the market for contract logistics in the near future.
What is the Market Segmentation?
The global contract logistics market has been segmented on the basis of type, services, and end user. On the basis of type, the contract logistics market is categorized into insourcing and outsourcing. Amongst them, insourcing is the dominant segment as many of the companies are shifting their insourcing the logistics services. On the basis of service, the market is classified into transportation, warehousing, packaging processes and solutions, distribution, production logistics, aftermarket logistics, and others.
What is the Regional Framework of Contract Logistics Market?
Transportation is the leading segment which is expected to grow at a CAGR of 5.3% during the forecast period. On the basis of the end user, the market is segmented into aerospace, automotive, consumer, high-tech, industrial, pharma & healthcare, retail, and others. Amongst them, a retail segment dominated the market in 2017 with the market share of 26.8%, and it is expected to maintain its lead during the forecast period.
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