The Global Logistics Outsourcing market size was valued at USD 855.25 billion in 2020 and is expected to reach 1490 Billion during 2027 with growth at a compound annual growth rate (CAGR) of 8.3% from 2021 to 2027. As there has been increased need and demand of products by the customers all over the globe, that has made all the companies busy in fulfilling those demand by producing more and better quality of products, hence giving companies very less time to focus on the material handling, warehousing, transportation and other such logistic activities. This has given a golden opportunity to the other companies and has created a completely new market of logistic outsourcing. And players of this market have really taken the benefit of the chance and the market now has a lot of players that run this market and earning profits in billions.
Also due to the advancements in the field, this market has completely gone global and now allows the consumers to have and send products from all over the globe. This has given opportunities to players to enter global markets and earn better profits. Also, this has led to the employment of lakhs of people into this market. Logistic outsourcing has really made it easy for companies to run their businesses as the outsourcing companies take care of all the logistic operations. Thus, when these logistic outsourcing companies deliver their work, it attracts more happy and profitable customers to the company.
These outsourcing is not only limited to distribution but also to providing raw materials to the companies and maintain a proper supply chain for the company. The biggest employers of these logistic outsourcing companies are the e-commerce companies like Amazon, flip kart and many others. As e-commerce is still an increasing market, intern it ensures the growth of the logistic outsourcing market as well.
Report : Logistics Outsourcing Market - By Type (Air Transportation, Sea Transportation, Railway Transportation, and Highway Transportation), By Application (Material Management, Supply Chain Management, Distribution Management, Shipment Packaging, and Channel Management) and By Regions (Asia Pacific, North America, Europe, South America, and Middle East & Africa) - Industry Analysis, opportunity and Forecast 2020 To 2027