Logistics can be summarized as having the right type of the product or service at the right place, at the right time and in the exact condition. The activities of logistic market can majorly accelerate the economic growth and productivity growth. Moreover, the increase in the growth of the global logistic market is directly related to the current economic growth and the development of international trade such as transportation, material handling, security, packaging, integration of information and others. The transportation and security of the material plays an essential role in ease of doing trade processes. According to the report analysis, ‘LOGISTIC AND SHIPPING MARKET RESEARCH REPORT’ states that the global logistic market industry has grown significantly while logistic have become an essential part of the business economic system.
The logistic market involves transactions which can be done by many parties and occurring many times outside the office. Therefore, for doing effective transactions in the new era trading partner using the technology of cloud computing. The traditional way of doing transaction sometimes results high cost and time consuming process whereas the cloud computing eliminate the presence of middle man and reduce the cost and less time consuming technique. Cloud computing for logistic industry management involves effective handling of the supply chain system from the point of origin to the point of consumption is covered. Moreover, cloud computing applications have the potential to provide vast efficiency and flexibility options for the logistic industry. The key players, which are currently expanded operations to New York, Amsterdam, and Hong Kong uses smart processes to increase transparency, cut transaction costs and satisfy a growing consumer preference for crowd-sourced delivery options. Furthermore, the user of cloud computing technique can quickly switch between applications and the complexity in managing applications is reduced. The key player of cloud computing market is doing more establishments with the ability to quickly launch new applications which can make the market of logistic more secured from the theft and fraud. The main goal of enabling more advancement in the technology of cloud computing is virtualization. The performance of cloud computing is m onitored by the IT experts from the service providers. According to the report analysis, MARKET RESEARCH REPORT FOR LOGISTICS’ suggests that the introduction of new innovation in the cloud computing technique is providing better safeguard and cater more investors as the cloud computing provide more data in real-time which is accessible.
With the extensive usage of cloud computing due to the effective applications market is growing significantly around the globe therefore, the global logistic market has been divided into four main regions which include North America, Europe, Asia Pacific region and rest of the globe. The Asia Pacific region is expected to grow at the highest CAGR in the coming years followed by North America and Europe. China, Japan, Australia, Indonesia and India are the major markets in the Asia Pacific region whereas China has dominated the largest logistics market due to the presence of a large manufactures and huge population in the country. In Europe, Germany, the U.K. and France are the major countries for logistics markets. Moreover, in the recent few years, the rise of e-commerce has added to the transport boom and seen a significant growth across the industry’s value chains as a whole.
XPO Logistics Inc., DHL International GmbH, Ceva Holdings LLC, C.H. Robinson Worlwide, Inc., Schenker AF, DTDC Express Limited and others are the some major key players which are currently performing in this market whereas in India DTDC Express Limited dominating the huge market share and in U.S. XPO Logistics Inc., acquire huge share in the market of logistics. European companies such as Schenker AG and DHL International GmbH is also expected to grow in the coming years with the handsome amount of share in the market. Some of the companies are benefitted with the acquisition & mergers and joint ventures.
With the existence of numerous players in the market of logistics lead to competition and opportunities to the new entrants in the market. New entrants make the market more effective and profit making with the more development in the technology and globalization coupled with the population growth. Therefore, the market of logistics is expected to grow globally in the coming years over the decades with the more development in the economy.
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Ankur Gupta, Head Marketing & Communications