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(Transportation-News.com, January 09, 2021 ) Post COVID-19, the global logistics market size is projected to grow from USD 2,734 billion in 2020 to USD 3,215 billion by 2021, at a Y-O-Y of 17.6%.
The major drivers of this market are increasing focus on the continued supply of essential commodities, creation of supply chain stabilization task force to fight COVID-19, and growing demand and distribution of personal protective equipment. The factors that restrain the market are labour shortage and a shortage of COVID-19 testing kits. The projection for 2021 is estimated to be down by over 10-15% as compared to the pre-COVID-19 estimation.
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Some of the key players in the logistics and supply chain industry market are DHL (Germany), UPS (US), FedEx (US), Kuehne+Nagel (Switzerland), CEVA Logistics (Switzerland), DB Schenker (Germany), SNCF (France), XPO Logistics (US), Kenco Group (US), and Hitachi Transport System (Japan).
The Asia Pacific is expected to have the largest market sizing as the region has taken stringent measures to contain the virus. China has started to recover from the COVID-19 pandemic faster than any other country. Only some provinces of the entire country are in lockdown after the second wave of COVID-19.
The World Health Organization has appreciated India’s control over the spread of the pandemic. This has allowed the logistics and supply chain companies to meet consumer demands during the pandemic situation. The supply of vital products in Singapore, South Korea, and Japan has also regained normalcy. Thus, the Asia Pacific region is expected to show positive signs in the near future as the supply chain industry recovers gradually.
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Recent Developments:
COMPANY NAME: DHL
PRECAUTIONARY MEASURES ADOPTED:
1. Implemented a warehouse management system and bought the retail and eCommerce inventories together
2. Successfully sent emergency medical equipment and supplies to healthcare workers and delivered necessity goods to private customers
COMPANY NAME: UPS
PRECAUTIONARY MEASURES ADOPTED:
1. Temporarily adjusted its Signature Required guidelines to ensure employee and customer safety
2. Helped companies deploy their products worldwide at a faster rate
3. Donated free personal protective equipment (PPE) to healthcare professionals
COMPANY NAME: FedEx
PRECAUTIONARY MEASURES ADOPTED:
1. Updated store hours and available services for FedEx Office and other retail locations
2. Suspended Signature Required for most shipments
COMPANY NAME: CEVA
PRECAUTIONARY MEASURES ADOPTED:
1. Adopted smart strategies for logistics cost optimization
2. Ensured safety measures to protect its employees
COMPANY NAME: Kuehne+Nagel
PRECAUTIONARY MEASURES ADOPTED:
1. Focused on protecting the health and safety of its employees
2. Implemented global travel restrictions and conducted meetings through video conferencing
View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/covid-19-impact-on-logistics-supply-chain-industry-market-244593137.html
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
newsletter@marketsandmarkets.com
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