Major companies in the specialized warehousing and storage market include Mitsubishi Logistics; Kuehne + Nagel International AG; Iron Mountain Inc; Kinder Morgan Inc and Apex Oil Company Inc.
New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Specialized Warehousing And Storage Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025336/?utm_source=GNW
The global specialized warehousing and storage market is expected to grow from $58.95 billion in 2020 to $60.95 billion in 2021 at a compound annual growth rate (CAGR) of 3.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $84.48 billion in 2025 at a CAGR of 9%.
The specialized warehousing and storage market consists of sales of specialized warehousing and storage services and related goods by entities (organizations, sole traders and partnerships) that operate warehousing and storage facilities for particular categories of goods that need specialized treatment. The main examples are farm product bonded warehousing and storage, farm product private warehousing and storage and grain elevators. Other examples are automobile dead storage, bulk petroleum storage, document storage and warehousing, lumber storage and whiskey warehousing. The specialized warehousing and storage market is segmented into automobile dead storage; bulk petroleum and chemical storage; document storage and warehousing; whiskey warehousing and other specialized warehousing and storage.
North America was the largest region in the global specialized warehousing and storage market, accounting for 29% of the market in 2020. Asia Pacific was the second largest region accounting for 29% of the global specialized warehousing and storage market. Africa was the smallest region in the global specialized warehousing and storage market.
Many warehousing and storage companies are using big data analytics as a tool to plan and optimize warehouse operations. Big data analytics refers to the process of examining large sets of data to obtain useful information such as hidden patterns, market trends, unknown correlations and customer preferences. Big data analyses the location, capacity and flexibility of warehouses to predict customer requirements. It helps in improving warehouse planning and replenishment and creating lean supply chains with sophisticated inventory systems. This maximizes workflow, improves floor utilization and increases operational efficiencies and ROI.
Read the full report: https://www.reportlinker.com/p06025336/?utm_source=GNW
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