Freight and Logistics Market Scope
Freight and logistics service focus on moving or forwarding of freight from one place to another. Blockchain technology is transforming the shipping industry from its ability by providing a more secure and transparent way to handle exchanges of information between parties. There is uneven economic growth of East Asia transformed the patterns of world trade. In today’s scenario, China is attracting a lot of attraction in APAC. It is considered as the world’s most rapidly growing economies. The Chinese economic growth is reflected in the liner service schedules of major shipping lines. Shipping lines are having high growth potential by increasing Chinese container imports and exports, majorly in China-Europe trade.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | China |
Largest Market | China |
Unit | Value (USD Million) |
Key Companies Profiled | J. B. Hunt Transport Services (United States), C. H. Robinson (United States), CEVA Logistics (Switzerland), FedEx (United States), United Parcel Service (United States), Expeditors International (United States), XPO Logistics (United States), Kenco Group, Inc. (United States), Deutsche Post DHL Group (Germany) and DSV Air & Sea Inc. (Denmark) |
CAGR | 6.6% |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Freight and Logistics market throughout the predicted period.
J. B. Hunt Transport Services (United States), C. H. Robinson (United States), CEVA Logistics (Switzerland), FedEx (United States), United Parcel Service (United States), Expeditors International (United States), XPO Logistics (United States), Kenco Group, Inc. (United States), Deutsche Post DHL Group (Germany) and DSV Air & Sea Inc. (Denmark) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Penske Logistics (United States), Lineage Logistics (United States) and CEVA Logistics (Switzerland).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Freight and Logistics market by Type and Region with country level break-up.
On the basis of geography, the market of Freight and Logistics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). China region held largest market share in the year 2023. Japan on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In Jul 2019, The International Freight and Logistics Network announced to launch a new IFLN Healthcare & Pharma network. In this IFLN healthcare & Pharma network represents by offering global door-to-door services while complying with the strictest of pharma shipping requirements.
In Jun 2019, Accutrac Capital Solutions Inc. announced the acquisition of eCapital LLC to provide cash flow solutions to transportation. Through this service, Accutrac strengthens its service and expand its footprints.
Influencing Trend:
Digitalization of Transport and Logistics, Increasing Visibility across the Supply Chain, The Emergence of Blockchain Technology for Logistics Automation and Rise In Adoption of Data Analytics and Big Data Logistics
Market Growth Drivers:
Robust Growth in E-Commerce Industry, Rise in Demand for Specialized Trucking and Last-Mile Delivery Driven By E-Commerce and Rise in Application of IoT Technology for Logistics Automation
Challenges:
Security and Safety Issues with Logistics Automation and Lack of Acceptance in Emerging Economies
Restraints:
Lack of Skilled Professionals to Adopt New Technology
Opportunities:
Technological Advancement in Automotive Logistics, Increasing Demand for Driverless Vehicles and Drones for Logistics Management and Rising Adoption of Logistics Automation in Small and Medium Enterprises
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Freight and Logistics Service Providers, Government Regulatory and Research Organizations and End-Use Industries