Logistics Market Estimated to Grow at over 4.9 % CAGR until 2024: IMARC Group

According to the latest report by IMARC Group titled, “Logistics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 4,730 Billion in 2018. Logistics is the process of planning and organizing resources and services from the point of origin to the point of consumption. It manages how resources are obtained, stored and moved to different places. The primary components of the logistics industry include inventory management, inbound and outbound transportation, customer service, storage handling and production planning. Logistic is an efficient way for the transportation and storage of goods and services. It is crucial for any organization as it helps in maintaining and enhancing customer satisfaction and improves the company’s supply chain. Looking forward, the market is expected to reach a value of US$ 6, 300 Billion by 2024, exhibiting a CAGR of around 4.9 % during 2019-2024.

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In recent years, the global logistics market has experienced a rapid transformation due to the expansion of the retail e-commerce industry, growing urbanization and the increasing global trade activities, particularly in the developing economies. Moreover, the technological advancements in the industry have impacted the market positively, which have made the delivery process more convenient to track. Apart from this, rising popularity for green logistic solutions, the growing importance of intra-regional markets, increasing disposable income of the consumer and increasing penetration of internet are some of the other factors that are currently driving the global logistics market growth.

Market Segmentation:

Breakup by Model Type:

• 2PL
• 3PL
• 4PL

Breakup by Transportation Mode:

• Roadways
• Seaways
• Railways
• Airways

Breakup by End-Use:

• Manufacturing
• Consumer Goods
• Retail
• Food & Beverages
• IT Hardware
• Healthcare
• Chemicals
• Automotive
• Telecom
• Oil and Gas
• Others

Regional Insights:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Competitive Landscape:

The report has also examined the competitive landscape of global logistics market. Some of the top logistics companies in the global market are C.H. Robinson Worldwide, Inc., J. B. Hunt Transport Services, FedEx Corp., Ceva Holdings LLC, Expeditors International of Washington Inc., United Parcel Service, Inc., Kenco Group, XPO Logistics Inc., Americold Logistics, LLC, Deutsche Post DHL Group, and DSV Air & Sea Inc.

Key highlights of the report:

• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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IMARC is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.