Global Contract Logistics Market will boom by infrastructure development, industrialization, and digitization across the globe
Published Date | 2019 October 31
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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