Global Contract Logistics Market will boom by infrastructure development, industrialization, and digitization across the globe
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,
in consequence of economic development and dynamic business environment in the
developing countries. Rapid urbanization, huge growth in the e-commerce sector
and the upsurge in government’s supportive regulations such as foreign direct
investment will foster the global Contract Logistics Market in the forecast
period.
Moreover, the major 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 extensive upsurge in the retail industry, better economic growth, and
growth in 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
fulfillment by managing the company's inventory, packaging, tracking,
transportation of goods, reporting & forecasting, and warehouse management
is expected to fuel the global Contract Logistics market over the future
timeframe.
The
Outsourcing segment of the Contract Logistics Market is projected to be the
leading segment of the overall market during the forecast period
On the basis of Type, the
Contract Logistics market has been bifurcated into Outsourcing and Insourcing.
Outsourcing segment will lead the market owing to its application for increased
consumer spending and cross-border purchasing along with huge 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 of Contract Logistics Market is anticipated to be
the leading segment of the overall market during the forecast period
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 to tackle Contract Logistics issues and improve the
efficiency of the entire supply chain. BFSI will influence by its application
to handle sales data, financials, human resource and others of the banking
industry.
BFSI
is projected to lead the industry for utilizing the application of Contract
Logistics during the forecast period
On the basis of 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 application in enterprises across the BFSI vertical to cater
to today's digital world while maintaining operational efficiency. IT &
Telecom will trigger its application to carrying out the customer's problems
coupled with increment in internet users.
North
America accounts for the lion’s share of the global Contract Logistics market
during the anticipated period.
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 over the forecast period due to the
presence of established Contract Logistics vendors and service providers in these
regions. The Asia Pacific market will be the fastest growing market in the
account of growing organizational need for improving employee productivity and
efficiency, in addition to saving operational costs.
Global
Contract Logistics Market Competitive Landscape
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 take sound strategic decisions.
Furthermore, the report also analyzes the market drivers and challenges and
competitive analysis of the market.
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