The impact of COVID-19on the logistics industry has been quite negative, as the growth of the industry has slowed down due to the nationwide lockdown in most of theaffected countries. Owing to the growth in e-commerce activities, increase in the disposable income of customers, and rapid urbanization in emerging economies,such asIndia and China, the logistics industry had been growing in recent years. Seeing the rising need for the transportation of goods, many new companies were entering the logistics space before the pandemic arrived.
In March 2020, nationwide lockdowns disrupted the supply chain across the world. Due to the rapid spread of coronavirus, countries have restricted the amount of water-, rail-, and air-borne cargo traveling to and fro. To contain the spread of coronavirus, only the carriage of essential items was allowed during the lockdown. The COVID-19 impact analysis on the logistics industryshowsthat the restricted movement of goods reduced the overall freight usage globally, primarily byaffectingthe trucking industry, due to permission barriers.
To revitalize the logistics industry during the pandemic,market players are making tactical changes and framing backup policies. These measures, according to the COVID-19 impact analysis on the logistics industry, will help service providers bounce back on the recovery road, by delivering the goods that are stuck in warehouses. Major logistics companies taking such measures include Supply Chain Solutions and Geodis, Deutsche Post DHL, The Maersk Group, Panalpina,Kuehne+ Nagel, DB Schenker Logistics, Dsv Global Transports and Logistics, and C.H. Robinson.
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This study covers
- Major factors driving the market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the market and their service offerings