As per the industry analysis 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 is anticipated to gain strong returns during 2022-2027.

Rising penetration of contract logistics in distribution and warehouse management systems combined with technological advancements are the key factors aiding global contract logistics market growth. Further, increasing prevalence of OEMs and ODM across several industrial verticals may enhance industry development in the upcoming years.

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Moving on to segmentation, the worldwide contract logistics industry is fragmented in terms of type (insourcing, outsourcing), services (warehousing, distribution, transportation, aftermarket logistics), and region (North America, Europe, Asia Pacific).

Based on type, the outsourcing sector is anticipated to capture a substantial industry share over the forecast period end. Escalating demand for new comfortability and security among customers across the globe is likely to contribute to the segmental expansion

In terms of service, the distribution segment has gained sizable traction in the recent years and is expected to experience an upward trend in the forthcoming years, creditable to growing number of material handling companies.

From a regional standpoint, Asia Pacific is the largest contributor to the worldwide contract logistics market share. This development can be attributed to growing inclination towards comfortability in transportation and storage of goods, burgeoning urban
population, rising levels of disposable income, and increasing prevalence electronic technology in the landscape.

The competitive terrain of the market is majorly influenced by key players such as D.B. Group, CEVA Logistics, Ryder System, Inc., DHL Group, Hitachi Transport System, XPO Logistics, United Parcel Service (UPS), Agility Public Warehousing Company K.S.C.P, and Kuehne + Nagel. These companies are undertaking various partnership deals, acquisitions and mergers, and streamlining logistics operations to maintain a strong foothold in the marketplace