Cross Docking Services Market: Introduction
The global cross docking services market is projected to reach ~US$ 340 Bn by 2030. The cross docking services market is projected to expand at a CAGR of ~6% from 2020 to 2030. Increasing need to reduce time and cost of logistics services is driving the growth of the market.need to reduce time and cost of logistics services is driving the growth of the market.
Dependence on IT and digitization in almost every segment is increasing. IT & digitization in the logistics industry has optimized the operations and enhanced the business of companies. It enables the market to be driven by a structured vision by integrating business potential with networking. Carriers are installing IT systems in the business to gradually enhance the business which they need to do to sustain in this competitive world.
According to United Nations Conference on Trade and Development (UNCTAD), autonomous ships, drones, and various blockchain applications with the help of IT are driving the demand for solutions related to logistics management. Digitization has hugely improved the efficiencies of shipping companies by enabling the integration of artificial intelligence technologies, blockchain, Internet of Things, and robotics with shipping models. The growing dependence on IT and adoption of IT technologies is driving the growth of the cross docking services market.
Moreover, shipping companies are more focused on customer satisfaction and customer engagement. Client retention is the key to grow fast and to gain a competitive edge compared to other players. Client focus is crucial in the marine freight industry as it is a service industry where client responsiveness and intangible assets need to be measured and appropriate steps need to be taken. For instance, in July 2017, Maersk launched a remote container management program for customers, which would provide location and tracking of refrigerated containers throughout its journey. Such programs and solutions are designed due to increased importance of client retention and customer satisfaction.
Digitization has enhanced transparency and enabled better response to customer needs, which could help shipping companies to cater more appropriately to customer needs. Medium competition in the market and the growing importance of customer satisfaction is expected to drive the cross docking services market.
Cross Docking Services: Market Segmentation
The global cross docking services market has been segmented in terms of service type, end user, and region. Based on service type, the market has been segmented into manufacturing cross docking, distributor cross docking, transportation cross docking, retail cross docking, and opportunistic cross docking. Based on end user, the market has been divided into 3PL and warehouse. Warehouse has been further segmented into e-Commerce & retail, healthcare & pharmaceuticals, food & beverages, automotive, defense & aerospace, industrial manufacturing, paper, pulp & rubber, and others (chemical, textile, etc.). In terms of region, the global cross docking services market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Initially, vendors across the ecosystem of cross docking services were analyzed based on device and technology providers in the market.
Cross Docking Services Market: Regional Outlook
Asia Pacific is expected to dominate the cross docking services market during the forecast period. This market in the region is projected to witness growth in the cross docking services market. The cross docking services market in Middle East & Africa, Europe, North America, and South America is also expected to expand rapidly during the forecast period.
The report provides in-depth segment analysis of the global cross docking services market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the cross docking services market.
Cross Docking Services Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global cross docking services market. Key players profiled in the report include CEVA Logistics (A CMA CGM Company), Ryder System, Inc., Schneider Electric SE, XPO Logistics, J.B. Hunt Transport Services, Kenco Group, Saddle Creek Logistics Services, Toll Holdings Limited , Deutsche Bahn Group, Kane Is Able, Inc., Delivery Lane Express, Inc., Kanban Logistics, World Distribution Services, and Cannon Hill Logistics.
Global Cross Docking Services Market Segmentation
Cross Docking Services Market, by Service Type
- Manufacturing Cross Docking
- Distributor Cross Docking
- Transportation Cross Docking
- Retail Cross Docking
- Opportunistic Cross Docking
Cross Docking Services Market, by End User
- e-Commerce & Retail
- Healthcare & Pharmaceuticals
- Food & Beverages
- Defense & Aerospace
- Industrial Manufacturing
- Paper, Pulp & Rubber
- Others (Chemical, Textile, etc.)
Cross Docking Services Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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