According to the research report titled ‘Global Contract Logistics Market - Analysis By Services (Transportation, Warehousing, Distribution, Aftermarket Logistics), Type, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2022-2027)’, available with MarketStudyReport, global contract logistics market was worth USD 257.41 billion in the year 2021 and is anticipated to witness notable gains by the year 2027.

Report findings suggest global contract logistics market is driven by technological improvements and increased use of electronic devices. In addition, growing penetration of distribution and warehouse management systems as well as preference for outsourcing are impelling the industry share.

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Based on services, the market is divided into aftermarket logistics, distribution, warehousing, and transportation. Among these, the distribution segment is expected to hold major share during the forecast duration, owing to the strong concentration of material handling companies around the globe.

In terms of type terrain, the industry is split into outsourcing and insourcing, wherein the former segment is predicted to grow significantly through 2027, due to rising focus on improving the security and comfort of customer among the companies.

Regionally, worldwide contract logistics industry spans across North America (Canada, U.S., Mexico), Europe (Germany, France, UK, Italy), and Asia Pacific (India, China, Japan).

Among these, Asia Pacific market is slated to grow tremendously over 2022-2027, due to growing disposable income of individuals, rising urban population, and increasing digitalization in different countries. Constant efforts to improve quality by removing errors and lowering variability, ease of working while storing and carrying the good in a storage place, as well as concentration of ODMs and OEMs across the region are impelling the regional industry share.

The key players in global contract logistics market are Kuehne + Nagel International AG, DSV A/S, Ryder System, Inc., United Parcel Service, D.B. Group, Hitachi Transport System, Inc., CEVA Logistics, Agility Public Warehousing Company K.S.C.P., XPO Logistics, Inc., and DHL Group.