Latest News- Contract Logistics Market in US: Outsourcing is expected to lead the Type segment during 2024-2028
The Contract Logistics Market in US is being driven by Growth in e-commerce market in US
The Contract Logistics Market in US is expected to grow at a CAGR of 5.7% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 8.5 billion. Contract logistics companies in the US are harnessing the power of big data analytics to gain a competitive edge in the market. By analyzing large volumes of data, these companies can derive valuable insights to inform strategic initiatives, including the customization of services, acceleration of market demand, and adoption of a new agile business model. Big data analytics also optimizes core activities such as resource utilization, delivery time, and geographical coverage in the operational efficiency and customer experience domains. However, the implementation of big data analytics solutions in the contract logistics sector is still in its infancy due to substantial IT infrastructure gaps within the industry.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Type (Outsourcing, Insourcing) End-user (Retail, Pharmaceutical, Automotive, Others) Geography (North America).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Contract Logistics Market in US Research Report
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The Contract Logistics Market in the US is experiencing significant growth, driven by outsourcing for resource management, warehousing, transportation, and distribution in various sectors, including e-commerce and healthcare. AI technologies such as route optimization, intelligent transportation, demand forecasting, and big data analytics are revolutionizing logistics, offering cost-efficiency, real-time tracking, and sustainability. Urbanization and digital payments are also influencing the market, leading to automation, cloud-integrated logistics, and blockchain technology for enhanced security and transparency. Insourcing remains an option for some, but the benefits of outsourcing, including cost savings and expertise, continue to outweigh the costs.
The Contract Logistics Market in the US is a significant segment of the broader global air freight and logistics industry. This market encompasses revenue generated by businesses offering outsourced services in resource management, warehousing, transportation, distribution, inventory management, and order fulfillment, particularly in sectors like e-commerce and healthcare. Technavio's market analysis calculates the Contract Logistics Market size based on service providers' revenues. Key growth drivers include the surge in e-commerce activities, requiring efficient order fulfillment and logistics solutions, and the implementation of AI and cost-efficiency measures to enhance resource management and distribution processes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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