According to new report By IMARC Group, the leading key players operating in the logistics industry are currently experiencing fierce competition, owing to the presence of numerous regional and international players. As a result, various service providers are resorting to organic and inorganic growth strategies to expand their consumer base and maintain a competitive edge. They are also relying on the latest technologies, such as Order Entering Systems, Global Positioning System (GPS), Transportation Management System and Warehouse Management Systems, for the efficient transportation of goods and services. For instance, DHL Express has introduced the TC55 technology that has a simple interface and works on Android smartphones to provide real-time supply chain data.
Due to the burgeoning e-commerce sector, online retailers nowadays are utilizing tracking systems such as barcode and radio-frequency identification (RFID) tags. These systems aid in providing accurate information about the expected time of delivery and prevent the risk of couriers getting lost during the delivery process. Furthermore, service providers are employing vendor managed inventory (VMI) and collaborative planning, forecasting and replenishment (CPFR) to meet the continually evolving demand of the consumers. the global logistics market size reached US$ 4,963 Billion in 2019. Looking forward, the market is expected to reach a value of US$ 6,537 Billion by 2025, registering a CAGR of 4.7% between 2020-2025.
Some of the Largest Logistics Companies in World 2020 mentioned below:
- J B Hunt Transport Services Inc (NASDAQ: JBHT)
- C.H. Robinson Worldwide Inc (NASDAQ: CHRW)
- Ceva Holdings LLC (CEVA)
- FedEx Corporation (NYSE: FDX)
- United Parcel Service, Inc (NYSE: UPS)
- Expeditors International of Washington Inc. (NASDAQ: EXPD)
- XPO Logistics, Inc. (NYSE: XPO)
- Kenco Group, Inc.
- Americold Logistics, LLC
- DEUTSCHE POST A/S ADR (DPSGY)
- DSV Air & Sea Inc. (DSDVY)
Browse More Reports by IMARC Group in Transportation and Logistics Market:
Global Rolling Stock Market Growth Analysis Report and Industry Outlook 2020-2025: https://www.imarcgroup.com/rolling-stock-market
Global Logistics Market Growth Outlook and Industry Trends 2020-2025: https://www.imarcgroup.com/logistics-market
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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