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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