NEW YORK – The logistics market share from 2021 to 2026 is USD 71.96 billion at a progressing CAGR of 1.39% as per the latest market report by Technavio. The use of blockchain with logistics is one of the key logistics market trends fueling the market growth. Blockchain technology is a digital ledger that is connected by a list of blocks that store data on a cryptographically secured and decentralized distributed network. In the logistics industry, blockchain technology increases the visibility of operations and offers the ability to track products effectively across the logistics process. Blockchain improves security as each transaction is recorded and validated by an independent third party. Due to the numerous benefits of blockchain technology, vendors offering logistics services are partnering with blockchain technology providers to develop platforms that will further increase security and transparency in the logistics industry. Such developments will drive the growth of the global logistics industry during the forecast period.
- Revenue Generating Segment: The logistics market share growth in the consumer goods segment will be significant for revenue generation. The major share of the household appliances segment accounts for refrigerators and air conditioners, followed by washing machines and other appliances. The rising global temperatures, mostly during summers, are propelling the need for refrigerators and air conditioners among households. Such changing consumer preferences will require enterprises to use logistics services to deliver products to retail stores as well as other customers. Hence, the growth of the consumer electronics segment of the consumer goods industry will drive the global logistics market during the forecast period.
- Regional highlight: 60% of the market’s growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for the logistics industry in APAC. Market growth in this region will be faster than the growth of the market in other regions. The presence of a large consumer base for both food and beverage and healthcare product suppliers will facilitate the logistics market growth in APAC over the forecast period.
The following factors are expected to drive the growth of the market during the forecast period:
- Increasing cross-border trade
- Increasing use of multimodal transport
- Growing e-commerce industry
Logistics industry: Vendor Assessment
The logistics industry is fragmented and the vendors are deploying growth strategies such as launching new products with advanced technologies to compete in the market. The logistics industry report offers information on several market vendors, including AP Moller Maersk AS, C.H. Robinson Worldwide Inc., CMA CGM Group, Deutsche Bahn AG, Deutsche Post DHL Group, DSV Panalpina AS, Emirates Logistics LLC, Expeditors International of Washington Inc., FedEx Corp., Ingram Micro Inc., J.B. Hunt Transport Services Inc., Jenae Logistics LLC, Kenco Group Inc., Kenco Logistics Pvt. Ltd., Kuehne Nagel International AG, Lineage Logistics Holdings LLC, Mac World Logistic LLC, NFI Industries, Nippon Express Holdings Inc., Ryder System Inc., syncreon Global Holdings Ltd., United Parcel Service Inc., and XPO Logistics Inc. among others.
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist logistics industry growth during the next five years
- Estimation of the logistics industry size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the logistics industry across APAC, North America, Europe, Middle East, Africa, and South America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of logistics industry vendors.
Source: Technavio
