Fairfield Market Research states that the constant and steady role of the global logistics market is globalisation has been driving the market through the years. As the methods of trade and movement of goods change with technological progressions, the market experienced a continuous winning streak. Rise of the e-commerce industry supported by last-mile delivery solutions has given the global logistics market a fresh impetus in recent years. A swelling number of online shoppers with relentless penetration of the internet, improved connectivity, and higher bandwidths is expected to boost the e-commerce industry, thereby generating mammoth opportunities for the global logistics market between 2021 and 2025.
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Globalisation with E-commerce Strengthens Opportunities for Global Logistics Market in Uncharted Market
Retailing via online channels is the premise of the e-commerce industry, which has become the new norm as the COVID-19 pandemic continues to force prolonged lockdowns. In the face of the pandemic, the global logistics market rose to the challenge by offering solutions for delivering essential as well as non-essential items to end users. From FMGC to entertainment, in the past year, the players in the logistics market have outdone themselves by offering excellent last-mile delivery solutions to e-commerce platforms. For instance, Nike rerouted its good in stock to e-commerce centres to achieve sales as the pandemic’s surfaced as a big threat in early 2020. Exceptional agility shown by companies in marketing strategies and investments in e-tailing has fared well for the logistics market in the past year.
Risk Assessment and Resilient Solutions Help Global Logistics Market Cope
The COVID-19 exposed the vulnerability of the global logistics market as it was first hit in Wuhan, China, the epicentre of the outbreak. With China as the key manufacturing hub, logistics backlog piled up ports and borders. According to International Finance Corporation, air freight volumes dropped by 19% in March 2020 in China as passenger flights, which carry cargo dropped. However, the turnaround time in risk assessment and coming out with resilience has helped the global market cope exceptionally well. Quick implementation of new safety protocols, alternative modes of transport, and adapting to newer demands have helped the global logistics market stay relevant. For instance, the use of charter flights for air freight and robots for no-contact delivery have emerged as game-changing solutions for the market.
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Digitization Transforms Business for Global Logistics Market
The introduction of Internet of Things (IoT), improved tracking mechanisms, and unmanned vehicles for deliveries have been some of the milestone developments for the global logistics market. Availability and accessibility to information about goods from manufacturing to throughout transit have brought in tremendous transparency in the supply chain. Real-time tracking has offered increased visibility to logistics providers and essential clarity to customers. Analysts anticipate these tested developments are likely to play a critical part in vaccine rollout in the next few months.
Asia Pacific Emerges as Leading Market with Growing Online Shoppers
Geographically speaking, Asia Pacific is poised to hold a lion’s share in the global logistics market by the end of 2025. The market’s leap is directly proportional to its exploding e-commerce industry. Steady in the introduction of online shopping, increasing disposable incomes amongst millennials and Generation Z, and supporting transportation mechanism within the boundaries of developing countries have all resulted in the noteworthy logistics market in Asia Pacific.
Players Focus on Delivery Robots to Strengthen Position
Fairfield Market Research states that the players are likely to focus on no-contact deliveries as COVID-19 sets the trend. Amazon Robotics already has experiments underway with Kiva Systems that helps in packaging and transporting.
Some of the important players studied in the global logistics market research report are DB Schenker Logistics, C.H. Robinson Worldwide, Americold Logistics, DSV A/S, DHL Supply Chain, Expeditors International of Washington, FedEx, J.B. Hunt Transport Services, Ceva Holdings, Kuehne + Nagel, Penske Logistics, SNCF Logistics, Ryder Supply Chain Solutions, United Parcel Service, The Boeing Company, and XPO Logistics among others.
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