LONDON–(BUSINESS WIRE)–The global project logistics market size is poised to grow by USD 32.15 billion during 2020-2024, progressing at a CAGR of almost 3% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The rising demand for automobiles has induced automotive manufacturers to increase their production volume. As a result, major automotive players are setting up production plants in developing economies such as China and India, because of the availability of low-cost materials and cheap labor. This has created the need for efficient automotive supply chain. As automotive manufacturers and suppliers are exposed to numerous costs, they are focusing on exploiting new market prospects and cost savings options. As a result, most of the automotive companies are hiring third-party project logistics services that are cost-effective and carryout logistics activities in a structured manner. This will, in turn, fuel project logistics market growth over the forecast period.
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- The major project logistics market growth came from the transportation services segment. Major players in the global project logistics market offer customized and innovative transportation solutions. As a result, the project logistics service market size will steadily increase in the transportation service segment. However, the growth of the market in this segment will be slower than the market’s growth in the other segments.
- APAC is one of the largest markets for project logistics. The presence of numerous emerging economies is primarily accelerating business opportunities for players in the project logistics market in the region. Many manufacturing organizations across the globe are setting up their production units in APAC, creating a significant need for project logistics. China and India are the major markets in the region. Over the forecast period, market growth in APAC will be faster than that of other geographies.
- The global project logistics market is fragmented. C.H. Robinson Worldwide Inc., CEVA Logistics AG, DB Vertrieb GmbH, Deutsche Post AG, DSV AS, FedEx Corp., Kuehne + Nagel International AG, Nippon Express Co. Ltd., United Parcel Service Inc., and XPO Logistics Inc. are some of the major market participants. To help clients improve their market position, this project logistics market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global project logistics market 2020-2024 is expected to have Negative and Inferior. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/project-logistics-market-industry-analysis
Rising Adoption of Augmented Reality and Artificial Intelligence will be a Key Market Trend
The rising adoption of augmented reality (AR) and artificial intelligence (AI) is one of the significant project logistics market trends. With the advent of AR and AI, vendors are incorporating these technologies into their services. AR is being integrated into warehouse management systems to carry out real-time operations. The concept of AI and robotics is finding significant applications in the supply chain process which involves repetitive and physically challenging tasks. AR and AI-enabled project logistic services will minimize risks, improve process efficiency, and enhance the resilience of logistics operations. This will result in increased popularity of AI and AR in logistics services fueling the market growth.
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Project Logistics Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist project logistics market growth during the next five years
- Estimation of the project logistics market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the project logistics market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of project logistics market vendors
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY SERVICE
- Market segmentation by service
- Comparison by service
- Transportation – Market size and forecast 2019-2024
- Warehousing – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by service
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Digitization of logistics
- Rising adoption of augmented reality (AR) and artificial intelligence (AI)
- Sustainable approach to logistics operations
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- C.H. Robinson Worldwide, Inc.
- CEVA Logistics AG
- DB Vertrieb GmbH
- Deutsche Post AG
- DSV AS
- FedEx Corp.
- Kuehne + Nagel International AG
- Nippon Express Co. Ltd.
- United Parcel Service, Inc.
- XPO Logistics Inc.
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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