Contract Logistics Market worth USD 437.52 Bn by 2029 market dynamics, trends and competitive landscape and forecast 2029
MAXIMIZE MARKET RESEARCH PRIVATE LIMITED
6 min read
MAXIMIZE MARKET RESEARCH PRIVATE LIMITED
Contract logistics is a long-term collaboration that includes a wide variety of services ranging from product or spare part delivery to ultimate end-customer customer delivery.
Pune, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The market is expected to grow from USD 243.5 Billion in 2021 to USD 437.52 Billion in 2029, at a CAGR of 7.6 percent over the forecast period from 2022 to 2029, according to the "Contract Logistics Market" research released by Maximize Market Research.
Contract Logistics Market Scope and Research Methodology
The Contract Logistics Market research report new product launches and the expansion of already existing businesses are expected to benefit the key players in maintaining their dominance in the global market of Contract Logistics Market. Market segmentation analysis includes qualitative and quantitative research incorporating the impact of economic and policy aspects. The report covers regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market, competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players, and comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
The research report involves the extensive usage of both primary and secondary data sources. The research process involves the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industries, and market risks, opportunities, market barriers, and challenges.
Contract Logistics Market Overview
The contract logistics market provides value-added services, transportation and warehousing also, it provides after-market service, planning, and production activities. Increasing adoption of IoT and innovation in technologies also, logistics companies are expected to utilize artificial technology expected to drive the contract logistics market demand during the forecast period.
The market is expected to increase as a result of the expanding e-commerce sector, rising food and beverage consumption, rising urbanization levels, rising consumer confidence index, and growing emphasis on environmentally friendly supply chains. However, the lack of trained workers in developing nations and the fierce rivalry will hinder the industry's expansion. Increasing consolidation activities, technical improvements, widespread acceptance of the internet of things (iot), and the emergence of blockchain services are a few prominent themes.
Software for logistics management that is cloud-integrated makes it possible to track, change, and monitor pricing and inventory in real-time. Cloud-based logistics software offers real-time accuracy and complete system and process management. It makes it possible to trace a single shipment at every point in its trip, reroute a missing consignment, and save a lot of money on lost items and late deliveries. Thanks to cloud-based logistics software, all players in a trade network may join and exchange data in real-time, make rapid decisions, and grow to meet the needs of the contract logistics market.
Systems for supply chains that are cloud-based SaaS offer a number of benefits. It provides a holistic perspective of all logistical activities by increasing transparency and teamwork. Putting in place a cloud infrastructure reduces both the upfront and recurring expenditures. Additionally, it increases the effectiveness of the supply chain in the contract logistics market and offers the potential to scale up to meet the needs of the company.
Contract Logistics Market Regional Insights
North America held a 56% share of the market in 2021. The North American region is expected to grow significantly throughout the forecast period. Increasing demand for e-commerce and same-day delivery is expected to drive the market in the North American region. North American companies are started participating in the market delivering services at various levels. Also, the growing adoption of more integrated services and data management for flexible solutions penetrates the market growth during the forecast period. While the US market is the largest and is progressively growing, Canada's e-commerce sector is the one that is expanding the quickest in the region. The Mexican e-commerce market is expected to grow at a healthy clip over the next five years despite the country's comparatively low user penetration of e-commerce. The majority of e-commerce businesses award contracts to logistics service providers for storage and distribution. Business models for high-velocity e-commerce demand the deployment of technology tools that speed up fulfillment processes.
Market Segmentation – A detailed analysis by Mode, Type of Vehicle, Component, and Region
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
Maximize Market Research is leading research firm, has also published the following reports:
Courier Services Market– Courier Services Market size was valued at USD 383.02 Bn. in 2021 and the total Grapheme Battery revenue is expected to grow by 5.8 % from 2022 to 2029, reaching nearly USD 601.32 Bn. increasing competitiveness and growing demand for e-commerce and customer expectation driving courier service market demand globally.
Invoice Factoring Market - Invoice Factoring Market was valued at USD 1.92 Billion in 2021 and is expected to reach USD 4.15 Billion by 2029, exhibiting a CAGR of 10.11 % during the forecast period (2022-2029.
Automotive Glow Plug Market: Automotive Glow Plug Market was valued at US$ 2.9 Bn. in 2021 and the total revenue is expected to grow at 4.2% of CAGR through 2022 to 2029, reaching nearly US$ 4.03 Bn. Increasing use of light commercial vehicles, demand for commercial cars, and therefore glow plugs from OEM and aftermarket channels, has been steadily increasing in the region
Procurement-as-a-Service Market: Procurement-as-a-Service Market was valued at USD 3.20 Billion in 2021, and is expected to reach USD 5.30 Billion by 2029, exhibiting a CAGR of 6.5 % during the forecast period (2022-2029). Adoption of Cognitive Procurement Technologies drive the demand of market.
Blockchain-as-a-Service Market: Blockchain-as-a-Service Market was valued at US$ 829.2 Mn. in 2021 and the total revenue is expected to grow at 60.1% of CAGR through 2022 to 2029, reaching nearly US$ 35792.3 Mn.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
