Growth of last mile delivery, Digital Transformation, Increasing Infrastructure development in Logistics & Warehousing Industry and Introduction of New Business Models were the key factors driving growth of the US Logistics Market.
The report titled “The US Logistics Market by Service Mix (Freight Forwarding Market, Warehousing Market and Value Added Services), by Third Party Logistics, by Cold Chain Logistics, By Express Delivery Logistics and by Industries (Oil & Gas, Engineering Equipment, Food & Beverages, Metals, Automotive and Others) – Outlook to 2022” by Ken Research suggested that security of supply chain, robotics & automation and convenience logistics will majorly contribute to the overall revenue of the US logistics market in next 5 years till 2022.
The US ranked 10th globally, by the 2016 logistics performance index and the logistics has accounted for major share in the GDP of the country. The logistics industry of the country incorporates huge multinational conglomerates which dominate the global market and provide all logistic services including air freight, land freight, sea freight, warehousing, express delivery, packaging, labeling and other services. In recent years the country has witnessed increasing prominence of 3PL & 4PL services which have which supported the overall market growth. Increasing demand for same day delivery, increasing customer expectations, low oil prices in recent years (aiding transportation), and rise in the retail & FMCG industry in the country has driven the demand of logistics services in the country.
Over the years, the freight forwarding industry has expanded in the country. During 2012-2017, the economic growth led to rising consumer spending, e-commerce sales and industrial output which resulted in rising domestic as well as global freight volumes. It is expected that low-cost sensor technology, self-learning systems, smart energy logistics, 3D printing and other major trends with change the course of logistics industry in upcoming years. With access to low-cost sensors, logistics is likely to increase the use of sensors, creating smart infrastructures for monitoring, inspecting, and volume scanning in the supply chain. With minimal/no human intervention, a self-learning system will adapt and improve its algorithms as it receives more data, improving logistics efficiency over time.
The increasing shift towards renewable energy sources is propelling the adoption of electric mobility solutions in logistics sector. Energy saving, innovative storage and distribution concepts can be leveraged to reduce additional cost in logistics industry, positively affecting the overall market growth.
Key Topics Covered in the Report
3PL Companies in the US
Logistics Infrastructure in the US
Cold Transport Services in the US
Cold Storage Warehouses in the US
J.B. Hunt Transport Services Fleet Size
Freight Forwarding Companies in the US
The US Cold Chain Revenue
XPO Logistics Inc. Market Share
The US Freight Forwarding Revenue
Cold Storage Warehouses in the US
C.H. Robinson Revenue from Logistics
DHL Supply Chain Logistics Competitors
Market Share Leading Companies the US 3PL
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