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The global logistics market reached a value of US$ 4.92 Trillion in 2021. Logistics is the overall process of planning and managing the acquisition, storage, and transportation of goods and services from the point of origin to the final destination. It also involves inventory management, packaging, warehousing, material handling, security, shipment, and inbound and outbound transportation. Logistics helps streamline complex operations for the smooth functioning of an organization or company and meets the requirements of end-users in a timely and cost-effective manner, which is currently escalating its demand across various industries worldwide.
As per the analysis by IMARC Group, the top companies in the logistics industry are focusing on product innovations and adopting advanced technologies to gain a competitive edge in the market. Some of these innovations include the advent of automated material handling equipment, automated guided vehicles (AGVs), driverless vehicles, and drone delivery in logistics. Moreover, recent advancements in technology, integration, globalization, legislation, and confederations are offering lucrative opportunities to the key players. In addition, the leading players are integrating artificial intelligence (AI), global positioning systems (GPS), and biometrics with logistics systems to enable real-time tracking and ensure security. They are also adopting the Internet of Things (IoT) and cloud-based logistics management solutions to gain valuable insights, enhance productivity, and make better-informed decisions. Furthermore, the emerging trend of green logistics that provide sustainable transport solutions and constant technological advancements are providing a positive thrust to the market growth. Looking forward, the market value is expected to reach US$ 6.55 Trillion by 2027, expanding at a CAGR of 4.7% during 2022-2027:
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Top 10 Logistics Companies in the Industry Worldwide:
J. B. Hunt Transport Services, Inc.
Headquarter: Lowell, Arkansas, United States
J.B. Hunt Transport Services Inc. is a US-based logistics company that provides surface transportation and delivery services in the United States, Canada, and Mexico. It also offers single-source logistics management for customers who desire to outsource their transportation functions. The company also arranges freight transportation, including general merchandise, specialty consumer items, appliances, forest and paper products, food and beverages, building materials, soaps and cosmetics, automotive parts, agricultural products, electronics, and chemicals.
C. H. Robinson Worldwide, Inc.
Headquarter: Eden Prairie, Minnesota, United States
C.H. Robinson Worldwide, Inc. (CHRW) is a leading provider of third-party logistics services. It has contracts with more than 71,000 carriers and handles about 18 million shipments per year for its 113,000-plus customers in the food and beverage (F&B), manufacturing, and retail industries. Apart from this, CHRW also buys, sells, and transports fresh produce throughout the US.
Ceva Holdings LLC (CEVA Logistics AG)
Headquarter: United Kingdom
CEVA Holdings LLC (CEVA) is a non-asset-based supply chain management company. It is primarily engaged in designing and implementing a range of solutions in freight management and contract logistics businesses. CEVA focuses on a wide range of industries, including automotive, technology, industrial, consumer and retail, energy, and healthcare. Its supply-chain solutions include solution design, engineering and analysis, logistics service contracting, supply chain management, and supply chain management technologies.
Headquarter: Memphis, Tennessee, United States
FedEx Corporation is a leading provider of transportation, e-commerce, and business services. The company offers transportation, e-commerce, and business services worldwide. The company’s FedEx Express segment provides shipping services to deliver packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
United Parcel Service of America, Inc.
Headquarter: Atlanta, Georgia, United States
United Parcel Service (UPS) is the world’s largest package delivery company, transporting around 15 Million packages and documents per business day throughout the US and other parts of the world. Over the years, UPS has enhanced its operations through mergers and acquisitions (M&A). It has obtained UK-based Freightex, an asset-light provider of truckload, less-than-truckload, specialized, and refrigerated over-the-road services.
Expeditors International of Washington Inc.
Headquarter: Seattle, Washington, United States
Expeditors International of Washington Inc. purchases air and ocean cargo space on a volume basis and resells that space to its customers at lower rates than they could obtain directly from the carriers. The company also acts as a customs broker for air and ocean freight shipped by its customers and offers supply chain management services.
XPO Logistics, Inc.
Headquarter: Greenwich, Connecticut, United States
XPO Logistics, Inc. offers transportation and logistics services in the United States, North America, France, the United Kingdom, Spain, Europe, and Asia. Its growth strategy involves making significant acquisitions that extend its global reach or add new product and service offerings. For instance, it acquired a 67% stake in Norbert Dentressangle SA, a leading transportation and logistics provider in Europe. Similarly, XPO also obtained Con-way Inc., one of the largest trucking providers in the US.
Kenco Group, Inc.
Headquarter: Chattanooga, Tennessee, United States
Kenco Group (doing business as Kenco Logistic Services) specializes in providing warehousing and distribution services. It draws customers from the appliance, automotive, construction, food, healthcare, pharmaceutical, and textile industries. Other Kenco businesses offer truckload freight transportation and transportation management services and distribute freight-handling equipment.
Deutsche Post DHL Group
Headquarter: Bonn, Germany
Deutsche Post is a leader in the global market for express delivery services. DHL COLDCHAIN is a dedicated, fully monitored, and temperature-controlled service for volumes of less than truckload (LTL). The company provides delivery services from a network of nearly 4,700 offices, and it employs a fleet of some 72,000 vehicles and about 350 aircraft. In addition, DHL is a leading provider of freight forwarding, logistics, and supply chain management services.
Americold Logistics, LLC
Headquarter: Atlanta, Georgia, United States
Americold Logistics, LLC provides temperature-controlled warehousing, transportation, and logistics services to the food industry in the United States and internationally. It manages consolidation, public, production, and dedicated distribution warehousing facilities. The company also offers transportation management services, including shipment management, operations management, claims management, direct-store-delivery, nationally less than truckload transportation, consolidation programs, carrier control, brokerage capacity management, real-time information control, shuttle, and multi-vendor consolidation.
DSV Air & Sea Inc.
As a US subsidiary of its Danish parent company (DSV Air & Sea Holding A/S), it offers air freight services such as the next flight out, oversize airfreight, and clearance through customs. DSV Air & Sea plans to use organic expansion as a means for growth and use strategic acquisitions in the growing markets of Asia and South America to extend its worldwide reach.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the logistics industry and regional UAE, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include:
- Market Research
- Plant setup
- Plant Expansion
- Marketing and sales
- Procurement and Distribution
- Innovation and Product Development