Global Contract Logistics Market is valued approximately at USD 213 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2020-2026.
Contract logistics is defined as the set of comprehensive processes that starts from production to distribution at the final point of sale. This means, contract logistics does not involve the process of transferring goods, as it is a broader course of action that integrates traditional logistics with supply chain management processes. It is the outsourcing of resource management tasks to a third-party vendor. These tasks include a variety of activities ranging from designing facilities, distributing and transporting goods to planning supply chains and managing inventory, and even offering specific aspects of customer service. The most vital benefit of contract logistics is cost savings, either in the form of time or equity, thus, reducing the need to assemble a costly infrastructure. Increasing e-commerce sector around the world, rise in demand for service integration & data management, and the inclination of manufacturers towards more flexible solutions are the few factors responsible for high CAGR of the market over the forecast period.
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For instance, as per the Shopify, a multinational e-commerce company based in Canada, the ecommerce sales were estimated almost $2.3 trillion in 2017 and is anticipated to grow to almost $4.5 trillion by 2021. This, in turn, is expected to accelerate the demand of contract logistics, thus contributing to the market growth around the world. However, the production and distribution of goods & services has contracted due to COVID-19 crisis with China’s manufacturing shutdown and unexpected recession conditions in North America and Europe. The excess of delayed orders, blank sailings and port calls have intensified volume pressures on the contract-based supply chain. The pandemic has generated a supply shock across the world that cause an acute disruption in supply chain, therefore hampering the demand of contract logistics. In addition, lack of direct oversight and dearth of skilled vendors are the few other factor hindering the market growth over the forecast period of 2020-2026.
The regional analysis of global Contract Logistics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to rising e-commerce sector, along with the increase in demand for service integration in the countries, especially China and India. Whereas, Middle East & Africa is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026, due to the technological developments in the logistics sector, particularly in the countries such as Saudi Arabia and UAE.
Major market player included in this report are:
Deutsche Post AG
XPO Logistics, Inc.
Kuehne + Nagel International Ag
Ceva Logistics Ag
DB Schenker (Deutsche Bahn Ag)
Hitachi Transport System, Ltd.
Neovia Logistics Services, LLC
UPS Supply Chain Solutions
Ryder System, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Packaging Processes and Solutions
Pharma & Healthcare
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
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Target Audience of the Global Contract Logistics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers