Global Contract Logistics Market to Grow Substantially with supportive Infrastructure Development, Industrialization and Digitization
Published | October 2019
According to BlueWeave Consulting, the Global Contract Logistics Market is estimated to grow with a substantial rate during the forecast period 2019-2025, as a consequence of economic development and progressive business environment in the developing countries. Rapid urbanization, massive growth in the e-commerce sector and the growing supportive regulations such as foreign direct investment will foster the Global Contract Logistics Market in the projection period.
Moreover, the primary factor driving the market is the growing e-commerce market across the globe, coupled with varying buying patterns and trends in different countries. Additionally, the significant surge in the retail industry, economic growth, and rising disposable income in emerging developing countries will accelerate the growth of the Contract Logistics market.
Furthermore, the rise in applications of contracts logistics for service integration, data management, and inclination of manufacturers towards more flexible solutions will contribute to Contract Logistics market growth during the forecast period. Also, advancements in logistics technology for the better online order delivery by managing the company's inventory, packaging, tracking, transportation of goods and warehouse management are expected to fuel the global Contract Logistics market over the future timeframe.
"The Outsourcing segment of the Contract Logistics Market is projected to lead the market."
Based on Type, the Contract Logistics market has been bifurcated into Outsourcing and Insourcing. Outsourcing segment is expected to dominate the market owing to its application for increased delivery of consumer goods and cross-border purchasing along with enormous expansion in the E-commerce market. The insourcing market is driven by cost-saving along with centralized control of operational activities.
"Inventory and Order Management Function Segment is anticipated to emerge as the Dominating one."
Based on Business Function, the Contract Logistics market has been segmented into Accounting and Finance, Sales and Marketing, Inventory and Order Management, and Human Capital Management. Inventory and Order Management segment will dominate the market due to its application in managing Contract Logistics issues and improving the efficiency of the entire supply chain.
"BFSI is projected to lead the industry for utilizing the application of Contract Logistics."
Based on end-user industry, the Contract Logistics market has been categorized into BFSI, Government, Healthcare, Retail, Manufacturing, IT & Telecom, Transportation & Logistics, and Media & Entertainment. BFSI segment will lead the market due to its extensive application in enterprises across the BFSI vertical to cater to today's digital world while maintaining operational efficiency. IT & Telecom will trigger its application for addressing customer's problems coupled with internet penetration.
"North America accounts for the lion's share of the Global Contract Logistics market."
Geographically, the Contract Logistics market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the global Contract Logistics market and is expected to grow substantially over the forecast period due to the presence of established Contract Logistics vendors and service providers in the region. The Asia Pacific market will be the fastest-growing market on account of growing organizational need for improving employee productivity and efficiency, in addition to saving operational costs.
“The leading companies” such as Oracle, SAP, Microsoft, Infor, Unit4, Workday, Sage Software, Epicor, QAD Inc., Plex Systems, AcumaticaF, Deltek, Rootstock Software, IQMS, NetSuite Inc., Sage Group plc, IFS AB, and Ramco Systems are the key players in the global Contract Logistics market.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Contract Logistics Market size & forecast. The report promises to provide state-of-the-art technology of Contract Logistics production and industry insights which help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive dynamics for their impact on the market.
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