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The global logistics market at a CAGR of almost 5% during the forecast period

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Global Logistics Market: About this market This logistics market analysis considers sales from consumer goods, automotive, food and beverage, healthcare, and other end-users. Our study also finds the sales of logistics in APAC, Europe, MEA, North America, and South America.

New York, Jan. 15, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Logistics Market by End-user and Geography - Forecast and Analysis 2020-2024" -
In 2019, the consumer goods segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growth of the personal care and consumer electronics sector will play a significant role in the consumer goods segment to maintain its market position. Also, our global logistics market report looks at factors such as increasing cross-border trade, rise in use of multimodal transport, and growing e-commerce industry. However, impact due to trade war, growing number of cargo thefts, and high operational costs may hamper the growth of the logistics industry over the forecast period.

Global Logistics Market: Overview
Increasing use of multimodal transport
Multimodal transport decreases cargo handling time and costs per vehicle. It also helps keep inventory and merchandise costs under control. Moreover, multimodal transport ensures the safety of goods during transport. For instance, FedEx uses multiple modes of transport such as air or sea and rail or road to ensure the safety of goods until they are delivered to their destinations. Due to many such benefits, enterprises are increasing their preference for multimodal transport to efficiently transport their products during outbound logistics. Thus, the increasing use of multimodal transport will lead to the expansion of the global logistics market at a CAGR of almost 5% during the forecast period.
Digital transformation in logistics
The logistics market is undergoing a continuous digital transformation globally as OEMs and technology suppliers recalibrate business strategies. The increasing competitive pressure is forcing logistics vendors to implement means that increase efficiency and reduce costs. This has resulted in the implementation of technology-enabled services such as telematics and electronic proof of delivery (ePOD). Telematic services in trucks provide real-time information about the condition of the vehicle, traffic, loading capacity, and the condition of cargo in the trucks. The implementation of telematics offers benefits such as shorter standby times, less wear on the vehicle, monitoring of the vital status of the driver, fewer accidents, optimized routing, and an increase in capacity utilization. This development is expected to have a positive impact on the overall market growth.

Competitive Landscape
With the presence of several major players, the global logistics market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading logistics manufacturers, that include C.H. Robinson Worldwide Inc., Deutsche Bahn AG, Deutsche Post AG, DSV AS, FedEx Corp., J.B. Hunt Transport Services Inc., Kenco, Kuehne + Nagel International AG, United Parcel Service Inc., and XPO Logistics Inc
Also, the logistics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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