Dublin, July 05, 2023 (GLOBE NEWSWIRE) -- The "Global Contract Logistics Market, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report, the global contract logistics market was valued at $243.6 billion in 2021, and is estimated to reach $505.3 billion by 2031, growing at a CAGR of 7.5% from 2022 to 2031.
The growing adoption of multimodal transportation along with the rise in international retailing is the primary factor for the growth of the logistics market in the retail sector. In addition, the innovative last-mile delivery mechanism in the retail e-commerce market is expected to accelerate the retail logistics industry. Moreover, the growing disposable income coupled with the increasing purchasing power of consumers is expected to drive the demand for retail logistics services, thereby boosting the logistics market in the retail segment.
Furthermore, the growing e-commerce industry, increasing usage of smartphones, and rapid internet penetration are anticipated to fuel the growth of the logistics market. For instance, in August 2020, Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, acquired the retail, wholesale business, logistics, and warehousing business of Future Group, an Indian conglomerate company, to strengthen the retail, wholesale, and supply chain business of Reliance's retail business.
The e-commerce industry contract logistics is driven by several factors, including increase in demand for online shopping, the need for faster & more flexible fulfillment options, and the trend toward outsourcing logistics functions to specialized providers. Moreover, the e-commerce industry is projected to have a prominent impact on the growth of the market due to improved relationships between suppliers & customers, which has fueled the growth of the market. In addition, the introduction of business analytics has assisted logistics professionals to increase the speed and efficiency of the work process that has proved to be a factor supplementing the growth of the segment in the global market.
As the demand for specific processes along the value chain and comprehensive services is growing, contract logistics is becoming the ideal solution for companies. The Western European region dominates the Europe market by taking more than three-fourths of the market, with Germany accounting for the major share. However, countries in the Central and Eastern Europe regions are expected to achieve high growth in the future. As of 2020, the program called 'Move to 4.0' was launched to support the transformation of existing manufacturing companies in Europe by diversifying or transforming their businesses through innovative technologies and new business models.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the contract logistics market analysis from 2021 to 2031 to identify the prevailing contract logistics market opportunities.
- This study presents analytical depiction of the global contract logistics market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall contract logistics market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global contract logistics market with a detailed impact analysis.
- The current contract logistics market is quantitatively analyzed from 2022 to 2031 to benchmark the financial competency.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry. The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the contract logistics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global contract logistics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service
- Transportation
- Warehousing
- Distribution
- Aftermarket Logistics
By Type
- Insourcing
- Outsourcing
By Industry Vertical
- Aerospace
- Automotive
- Industrial
- High-tech
- Pharma and Healthcare
- Others
- Retail
- e-Commerce
By Mode of Transportation
- Railways
- Airways
- Roadways
- Waterways
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
Key Market Players
- A.P. Moller - Maersk
- Hellmann Worldwide Logistics
- CEVA LOGISTICS
- YUSEN LOGISTICS Co. Ltd.
- CJ Logistics Corporation
- Deutsche Post AG
- Agility
- DB Schenker
- DSV
- Penske
- LOGISTEED, Ltd.
- Kuehne Nagel
- Neovia Logistics Services, LLC.
- Ryder System, Inc.
- GEODIS
- XPO Logistics Inc.
- United Parcel Service of America, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/nt5bdp
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