- The key vendors in the Logistics Market in the APAC Region 2015-2019 are CJ Korea Express, Deutsche Post DHL, Hitachi Transport System, Mitsubishi Logistics and Sankyu
London, 25 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Logistics Market in the APAC Region. Free trade agreements with countries in the APAC region have increased the demand for logistics services. In addition, policies with respect to FDI in logistics are providing a positive outlook and companies are expanding their customer base and product and service portfolios to other nations of the APAC region. Infrastructure development in terms of construction of warehouses and ports will further aid the growth of the market. The overall market is expected to grow at a CAGR of 5.52 percent during the forecast period of 2014-2019.
There is a huge demand for logistics services in the APAC region because of the economic growth and globalization, which involves import and export of raw materials and finished goods worldwide. The market in this region is expected to witness significant growth during the forecast period because of a rise in the number of manufacturing companies being set up.
“In 2014, China was the largest contributor to the market. China and Japan are among the top automobile manufacturing countries in the region, and hence drive the need for logistics services in this region,” says Faisal Ghaus, Vice President of TechNavio Research.
“In addition, the growing GDP and inter-country trading among the APAC countries is another growth driver. India, South Korea, Australia, and Japan are also expected to drive the growth of the market in the APAC region during the forecast period.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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