Logistics Service Market Growth, Development Factors, Applications, and Future Prospects and forecast up to 2027


The Global Logistics Service Market revenue accounted for US$ 1,122.58 Bn in 2018 and is expected to grow at a CAGR of 6.9% during the forecast period 2019 – 2027, to account to US$ 2,029.38 Bn by 2027. Globally, the market continue to witness a surge in demand for logistics services owing to rise in trade activities especially from emerging economies.

 As per the LPI (Logistics Performance Index) published by the World Bank, Europe’s score was 3.68, which was the relatively highest score in 2018. Europe’s leadership as the LPI score is majorly attributed to its robust infrastructure, custom services, logistics competence, timeliness and tracking and tracing abilities.

The timeliness factor has been derived as a vital contributor to Europe’s position in the global LPI, which was 4.04. Furthermore, snowballing interest of the manufacturing, automotive, retail, and other industries in outsourcing of the logistics services has also fueled the growth of the logistics service market in Europe. Besides, persistent propulsion in industrialization 4.0 is also expected to contribute to the growth of the logistics service market, as the production index of the region enhances and the demand for timely and complicated delivery would also increase.

Warehousing, inventory management, and transportation are some of the popular logistics services that are highly outsourced in the European region. However, the key challenge faced by the logistics service providers in the region is to gain profits despite the surging price pressure from the end-consumers.

Top Companies Mentioned: CEVA Logistics, PANALPINA WORLD TRANSPORT, United Parcel Service, C.H. Robinson Worldwide, A.P. MOLLER - MAERSK, Nippon Express, FedEx, DB Schenker, DHL International, KUEHNE + NAGEL

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