In its latest report – Global Contract Logistics 2023 – Ti’s data reveals that the contract logistics market grew at its slowest pace since 2014 (other than the Covid contraction in 2020), due to the global economic slowdown and subsequent softening economic activity.
Nia Hudson, one of Ti’s Research Analysts, said “2022 has brought an increasingly challenging operating environment for contract logistics providers, characterised by high inflation and weak demand. Contract logistics companies have largely mitigated inflationary issues at the top line by largely passing increasing costs on to customers.
However, from a demand perspective, the market does not seem to have fared as well following the post-pandemic bounce back in 2021. Ti’s real terms growth forecast, which shows underlying market growth and changes to market performance, illustrates this well.”
The Global Contract Logistics Report – written by industry researchers, analysts, and associates – is one of several reports published each year by the Ti team, utilising data from its GSCi knowledge portal, a data powerhouse with over 1m pieces of logistics market data and analysis.
The report takes an in-depth look at the core trends influencing the contract logistics market, such as M&A, robotics and automation in the warehouse, warehousing availability and costs, and some of the key challenges effecting the contract logistics market.
The full report – available here – also provides a snapshot of the contract logistics competitive landscape as well as provider profiles and market forecasts.