The global logistics market is expected to reach a value of US$ 16445.1 Bn by 2026. The market is estimated to expand at a CAGR of 7.4% during the forecast period from 2018 to 2026. In terms of volume, the market is expected to reach over 93104.9 Million Tons at a CAGR of approximately 6.6% by 2026. The logistics market in Asia Pacific is projected to expand at a rapid pace during the forecast period.

According to the report, the global logistics market is experiencing high-paced expansion in its size and valuation, due to the growth in the e-commerce retail market which is driving the logistics market at present and a similar trend is anticipated to be witnessed over the forecast period. One of the biggest drivers of the logistics market is investment in technological innovation.

Logistics is a business to control, execute, and plan the movement of material, capital, and service. Logistics is a part of supply chain management that controls, implements, and plans the effective and efficient flow of goods, information, and services between the point of origin and point of consumption.

The logistics market includes all the activities of the supply chain such as transportation, customer service, inventory management, flow of information, and order processing. Some other activities of the supply chain are warehousing, material handling, purchasing, packaging, information and maintenance, among others. Demand for logistics solutions is much higher in the B2B sector and is anticipated to continue rising over the next few years.

Based on the various logistics model types, the market is segmented into first party logistics, second party logistics, third party logistics, and fourth party logistics. Many retailers and manufacturers are recognizing logistics management as an important aspect globally. Moreover, logistics management is making an organization more competitive in terms of quality, cost, flexibility, and delivery. Due to these factors, organizations are now focusing on improving their logistics activities.

Logistics offers many advantages such as reduction in operational cost, improvement in delivery performance, and increase in customer satisfaction levels. Globalization is also supporting the logistics market, as more and more multinational companies are outsourcing the logistics services to third, second, and fourth parties, making the supply chain longer and complex. 

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