Albany, NY -- (SBWIRE) -- 08/12/2019 -- Logistics is a business to control, execute, and plan the movement of material, capital, and service. In a general sense, logistics is a part of supply chain management that controls, implements, and plans the effective and efficient flow of goods, information and services between the point of origin and point of consumption.
The logistics market has been considerably impacted by the introduction and use of new technologies. Some of the new technologies in the market are global positioning system (GPS), order entry systems, warehouse management systems, dispatching communication system, and transportation management system (TMS) among others. Technological advancements have made it possible to track the object throughout the delivery process. This is due to the advent of tracking systems such as RFID (Radio Frequency Identification), GPS, and bar code systems. Logistics companies are using new technologies such as CPFR (Collaborative Planning, Forecasting and Replenishment) and VMI (Vendor Managed Inventory) to meet the ever changing demands of customers. DHL Express launched a new technology named TC55 scanners that operates on Android platform, is easy to use, and also has global positioning system (GPS) navigation capabilities.
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Based on the various transport infrastructure, the market is segmented into road transport, waterways transport, rail transport, and air transport. The waterways transport segment constituted the biggest market share, followed by the air transport infrastructure segment, in 2016.
Based on the various logistics model types, the market is segmented into first party logistics, second party logistics, third party logistics, and fourth party logistics. Many retailers and manufacturers are recognizing logistics management as an important aspect globally. Moreover, logistics management is making an organization more competitive in terms of quality, cost, flexibility, and delivery. Due to these factors, organizations are now focusing on improving their logistics activities. Logistics offers many advantages such as reduction in operational cost, improvement in delivery performance, and increase in customer satisfaction levels. Globalization is also supporting the logistics market, as more and more multinational companies are outsourcing the logistics services to third, second, and fourth parties, making the supply chain longer and complex. The reason for this growth is the presence of a large manufacturing base in dominant logistics oriented countries such as China and India. Manufacturing sector followed by the retail sector is growing. The reason for this growth is the growth of e-commerce. The internet retail market includes the display and purchase of items via internet and the delivery of the purchased item to the consumer. The popularity of online shopping has increased globally in the last couple of years. There are a large number of global online retailers such as Amazon.com, eBay, Wal-Mart, bestbuy.com and Target brands, Inc. Among these players, Amazon.com reported revenues of US$ 19.16 billion in 2008 which increased to US$ 61.09 billion in 2012.Quality of the item, delivery time, and after sales service and support plays a crucial role in the internet retail market. Thus, an online retailer needs to have good logistics to create and maintain good relationships with the customers. Military is the third largest market for logistics. Increasing trade between countries has spurred the demand for logistics services.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and South America. Among these regions, in terms of revenue, Asia Pacific held the major market share, accounting for 31.6% in 2016, followed by North America. This trend is anticipated to continue over the forecast period. The growth of the global market is directly related to the growth of global international trade flow and economic environment. Asia Pacific and North America appeared to be the most attractive markets for logistics particularly in contract logistics such as fourth party logistics and second party logistics. Intra-regional trade in emerging markets is becoming important, particularly in Asia Pacific. The usage of logistics services in industrial and manufacturing, oil and gas, food & beverages, and retail is expected to rise massively during the forecast period, which in turn is estimated to strengthen the growth of the logistics market globally.
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Some of the key players profiled in this report include Americold Logistics, LLC, C.H. Robinson Worldwide, Inc., Ceva Holdings LLC, DHL Supply Chain, Expeditors International of Washington Inc., FedEx Corp., J.B. Hunt Transport Services, Kuehne + Nagel Inc., Penske Logistics, Ryder Supply Chain Solutions, SNCF Logistics, The Boeing Company, United Parcel Service, Inc., XPO Logistics Inc. and DSV A/S. among others.
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