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Logistics Market in APAC to Grow by USD 145.4 million from 2022 to 2027; Growth in trade between India and China boosts the market - TechnavioNEW YORK, Jan. 15, 2024 /PRNewswire/ -- The logistics market in APAC is estimated to grow by USD 145.4 million from 2022 to 2027. However, the growth momentum will progress at a CAGR of 5.25% during the forecast period. The market is segmented by type (3PL and 4PL), end-user (manufacturing, automotive, food and beverage, and others), and geography (APAC). The 3PL accounts for significant growth during the forecast period. The APAC region is experiencing a growing demand for 3PL logistics services across diverse industries, including manufacturing, retail, and e-commerce. These services encompass transportation, warehousing, freight forwarding, and cross-docking. Growth in trade between India and China drives the market growth. In the evolving global economic landscape, the growth in trade between India and China has garnered international attention, given their roles as key markets. Notably, the Chinese government is actively engaging in India's high-speed rail projects and extending Chinese expertise to support the development of Indian universities.
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The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market players including -Agility Public Warehousing Co. K.S.C.P, BCR Australia Pty Ltd., C H Robinson Worldwide Inc., CJ CheilJedang Corp., CMA CGM SA Group, Deutsche Bahn AG, Deutsche Post AG, DFDS AS, DSV AS, FedEx Corp., Hellmann Worldwide Logistics SE and Co KG, Hitachi Ltd., Japan Post Holdings Co. Ltd., Kuehne Nagel Management AG, Nippon Express Holdings Inc., Nippon Yusen Kabushiki Kaisha, RETHMANN SE and Co. KG, SF Express Co. Ltd., United Parcel Service Inc., and XPO Inc, among others Global Logistics Market In APAC – Market Dynamics Major Trends -
The use of blockchain with logistics is a primary trend in the market. Blockchain technology operates as a decentralized distributed network. It consists of encrypted information and a reference to the previous block, creating a challenge for altering data without modifying the entire chain. KEY challenges -
The threat of entry of real estate players in the warehousing sector is a significant challenge hindering market growth. The burgeoning e-commerce sector in the region acts as a potent catalyst for the expansion of warehousing. Drivers and challenges have an impact on market dynamics and can impact businesses. Find some insights from a free sample report! The logistics market in the APAC report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects. Why Buy?
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Gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform The Asia Pacific (APAC) logistics market, thriving in an era of digital transformation, is a complex interplay of advanced elements. Key components such as Freight Forwarding, Supply Chain Management, and Transportation are interwoven with specialized services like Cold Chain Logistics and Customs Brokerage. The rise of E-commerce Logistics and Last-Mile Delivery underlines the sector's responsiveness to consumer demands. Innovations in Autonomous Vehicles and Green Logistics reflect a commitment to sustainability, while Technology Solutions, including RFID and IoT, enhance efficiency. Amidst this, Trade Compliance and Regional Trade Agreements navigate the intricate regulatory environment. The market's dynamism is further bolstered by Emerging Markets, with Infrastructure Development and Logistics Analytics playing pivotal roles in shaping a robust, future-ready APAC logistics landscape. Related Reports: The self-storage and moving services market size is forecast to increase by USD 51.53 billion, at a CAGR of 8.95% between 2023 and 2028. The logistics automation market size is forecast to increase by USD 20.27 billion, at a CAGR of 9.41% between 2023 and 2028. ToC 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation by Type 7 Market Segmentation by End-user 8 Customer Landscape 9 Geographic Landscape 10 Drivers, Challenges, and Trends 11 Company Landscape 12 Company Analysis 13 Appendix About US Contact
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