The flourishing e-commerce industry is driving the demand for optimal logistics services. The rising online retail sales, significantly driven by the convenience and competitive pricing offered by digital marketplaces, are favouring the logistics market growth.
In addition, the hassle-free return and refund policies offered by e-commerce channels have sparked demand for reverse logistics processes and tracking capabilities. The introduction of instant grocery delivery through e-commerce mobile applications is further fuelling the market expansion.
Growing industrialisation and globalisation are boosting the demand for improved technologies for tracking and supporting services like international goods insurance. Several factors such as technological advancements, the expansion of international trade agreements, and the utilisation of technologies such as Bluetooth, driverless vehicles, GPS, and drone deliveries also aid the market growth.
The growing partnerships and innovations by governments are also significantly contributing to the market. For instance, in June 2023, Australia and Singapore announced a collaboration to create a green and digital shipping corridor by 2025, building on their previous Green Shipping Cooperation agreement. This initiative aims to lead the way in decarbonising the maritime sector while optimising trade routes.
Besides, rising mergers and acquisitions by key players are also expected to fuel the market demand in the coming years. In Market 2023, Logistics Limited, a leading provider of multimodal logistics solutions, received board approval to acquire a 38.87% stake from its partners for an enterprise value of Rs 373 crore. This acquisition is expected to result in Allcargo Logistics owning 100% of the contract logistics business, aligning with its strategic focus on core operations.
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The major players in the global logistics market are J.B. Hunt Transport Services, Inc., CEVA Logistics AG, XPO, Inc., Global Leader, Inc., Kenco Group Inc., Deutsche Post AG, Kuehne + Nagel International AG, FedEx Corporation, United Parcel Service, Inc., A.P. Møller – Mærsk A/S, Expeditors International of Washington Inc., GXO Logistics, Inc., and DSV A/S, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
|Scope of the Report
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Model Type
|Breakup by Transportation Mode
|Breakup by End User
|Breakup by Region
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