Albany, NY -- (SBWIRE) -- 11/09/2018 -- The global logistics market is prognosticated in a report by Transparency Market Research (TMR) to stay exceptionally fragmented with top four companies accounting for a small aggregate share in the recent past. FedEx, UPS, Inc., CEVA Logistics, and Deutsche Post DHL have been showcasing their prominence in the market since several years. According to the report, companies have been putting in efforts for the extension of their physical presence across different regions, product enhancement, and business development. They are said to continually adjust to changing marketplaces to stay ahead of the game. Competitive rivalry could be extreme, taking into consideration the rise of mergers and acquisitions.
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TMR envisions the global logistics market to touch a valuation of US$15.5 trillion by the completion of 2023, rising at a 7.5% CAGR for the forecast tenure 2016-2024. By type of transport infrastructure, road could secure a staggering share of the market due to its broad usage across the world. In terms of geography, Asia Pacific could be a real revenue supporter for the market because of large acceptance of outsourced logistics administrations.
Impressive Development of Internet Business Massively Triggers Growth
The world logistics market is anticipated to come under positive influence of the internet business industry's productive development rate. Keeping product assortment and comfort in view, it could be said that web-based shopping has gained widespread popularity and become a go-to option for almost all types of purchasers. This has raised the need for logistics administrations that are more productive, efficient, and faster than others. One of the key factors empowering the pursuit of web-based shopping getaways could be the rising count of customers having access to high-speed internet.
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Shopper-driven approach of today's logistics services is expected to produce better consumer loyalty appraisals in the long run. This could be achieved by tapping into a range of interest points of customers and their buyers, including improved capacity of purchaser portfolio, sophisticated execution of conveyance using computerized stamping, and operational cost diminishments.