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.
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Technavio has announced its latest market research report titled Global Project Logistics Market 2020-2024 (Graphic: Business Wire)
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 segmentation analysis
PART 04: MARKET SIZING
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
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
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
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND 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
PART 13: VENDOR ANALYSIS
Market positioning of vendors
C.H. Robinson Worldwide, Inc.
CEVA Logistics AG
DB Vertrieb GmbH
Deutsche Post AG
Kuehne + Nagel International AG
Nippon Express Co. Ltd.
United Parcel Service, Inc.
XPO Logistics Inc.
PART 14: APPENDIX
List of abbreviations
Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201005005511/en/