However, Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.

Segmentation

The global logistics market can be classified based on logistic type, end-user industry, transportation type, and region.

Based on logistic type, the global logistics market can be segregated into the first party, the second party, and a third party.

Based on the region, the logistics market can be segregated into North America, Europe, Asia Pacific, and Rest of the World (RoW).

Regional Analysis

The geographical analysis of North America, Europe, Asia Pacific, and Rest of the World (RoW) has been conducted. As per the analysis by MRFR, the APAC region acquired the largest market share. The evaluation also states that the region is likely to expand at the maximum CAGR during the review period. The increasing exports and imports are one of the prime factors augmenting the growth in the region. Besides, the growing adoption of outsourced logistics services in the area is propelling the market in the region. The emerging economies like India, Japan, China, Australia, and Indonesia are the most lucrative markets in the APAC area. China is the biggest market owing to the large population and the presence of key players.

Moreover, the economic growth and rapid urbanization in the region is leading to additional growth of the market. The second position is attained by North America. It is a lucrative market for the expansion of the market. The rising demand for foreign commodities from countries like India, Thailand, and Indonesia has made a robust relationship with the U.S. The third position is attained by Europe. Europe plays a vital role in expanding the market. Germany, France, and the U.K are the most important markets in the region.

However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.

Key Players

The forefront players of the global logistics market are GEODIS (France), Ceva Holdings LLC (U.K.), C.H. Robinson Worldwide, Inc. (U.S.), FedEx Corp. (U.S.), Expeditors International of Washington, Inc. (U.S.), XPO Logistics Inc. (U.S.), DHL International GmbH (Germany), A.P. Moller – Maersk (Denmark), DSV Global Transports and Logistics (Denmark), Schenker AG (Germany), DTDC Express Limited (India) and other.