The growth of the global logistics market is directly related to the development of international trade flow and the current economic environment. Asia Pacific and North America appear to be the most attractive markets for logistics, particularly when it comes to contract service such as third-party logistics. Intra-regional trade in emerging markets is becoming important, especially in Asia Pacific, and this, combined with high GDP rates, is projected to continue boosting the logistics market.
The usage of logistics services in different application such as manufacturing, retail, trade and transportation, government and public utilities, healthcare, media and entertainment, telecommunication, banking and financial services, and information technology is expected to rise considerably during the forecast period, which in turn, is estimated to strengthen the growth of the logistics market globally.
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Roadways to continue being Most Favored Mode of Logistic Transport
Based on the type of transport infrastructure, the logistics market is segmented into roadways, waterways, railways, and airways. Road freight transport is the most widely used transport infrastructure globally and has proven to be vital to the social integration and economic development of various counties. By revenue, roadways held the dominant share and by volume, waterways accounted for the leading share in 2015.
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Promising Markets in APAC Attracting Investments from Government and Logistics Companies
In 2015, Asia Pacific led the global logistics market thanks to significant contribution from countries such as China, India, Singapore, Indonesia, Japan, and Malaysia. China is the major contributor to the growth in this region due to the presence of a large manufacturing base. India, on the other hand, is one of the most promising markets, which has attracted the government as well as logistics players to make massive investments in the country.
Latin America is perhaps the most noteworthy market for logistics in the Rest of the World (RoW) segment. Emerging nations such as Brazil and Argentina have shown massive potential for development thanks to growing trade activities among various other developing countries.
Key players in this market include J.B. Hunt Transport Services (U.S.), C.H. Robinson Worldwide, Inc. (U.S.), Ceva Holdings LLC (U.K.), FedEx Corp. (U.S.), United Parcel Service, Inc. (U.S.), Expeditors International of Washington Inc. (U.S.)
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