Global Logistics Market Size, Share & Growth Analysis during the forecast period 2020-2027

 

Logistics Market

The overall process of managing how resources are acquired, stored, and transported to their final destination is referred to as logistics. It is a framework for managing material, service, information, and capital flows in a business. Logistics coordinates the flow of resources from the point of production to the point of consumption in order to meet customer demands. Physical resources such as food, liquid, and materials, as well as abstract resources such as energy or information, may be included. Procurement, production, disposal, distribution, and after-sales logistics are some of the most important logistics operations.

Logistics provides numerous benefits, including improved delivery performance, lower operational costs, and higher levels of customer satisfaction. As a result, many manufacturers and retailers around the world regard it as a critical aspect of their business. Furthermore, it contributes to an organization's competitiveness in terms of delivery, flexibility, cost, and quality. Globalization is another factor driving market growth, with many multinational corporations outsourcing their logistics solutions. Furthermore, logistics enables organisations to separate different stages of a manufacturing process across multiple countries. This significantly lowers the overall cost of production. As a result, these factors are expected to drive the global logistics market's growth during the forecast period.

The global Logistics Market is estimated to account for US$ 8627.4 Mn in terms of value by the end of 2027, exhibiting a CAGR of 5.3% during the forecast period (2020-2027).

The internet retail market includes the display and purchase of items over the internet, as well as the delivery of the purchased item to the consumer. Online shopping has grown in popularity over the last few years. This is due to increased internet access and a growing preference among customers for online shopping over traditional shopping. Furthermore, ease of access, convenience related to home delivery of objects, and benefits such as customization and refinement of results from a variety of objects are currently supporting the market. As a result, these factors are expected to drive market growth over the forecast period.

Inadequate infrastructure and a lack of domestic warehousing are expected to restrain global logistics market growth over the forecast period. Poor infrastructure, a lack of diversification, and lower wages are major market growth challenges. Currently, many logistics companies have ineffective recruiting and hiring processes, resulting in a shortage of young and skilled workers. Wage levels in the industry are low in comparison to other industries. As a result, these factors are expected to limit the growth of the global logistics market during the forecast period.

Although globalisation is a driving force, emerging economies such as Brazil, India, Argentina, and Canada are increasing regulation and protectionism to protect local industries. As a result, domestic producers seek safeguards against the influx of imports. These producers and other commercial interests band together to promote regulations limiting imports. For example, regulatory protectionism can be found in a number of US policies that protect against foreign competition. Furthermore, protectionism stifles trade between two foreign parties and has a negative impact. As a result, these factors are expected to impede global logistics market growth during the forecast period.

Major Companies involved are-Changan Minsheng APLL Logistics Co., Ltd., China Ocean Shipping Company (COSCO), Deutsche Post DHL, FedEx Corporation, Jiangsu Aucksun Co. Ltd., Kuehne-Nagel, Inc., Orient Overseas (International) Ltd., Shenzhen Feima International Supply Chain Co., Ltd., Sinotrans Limited, United Parcel Service, Inc.

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