Increase in Global Trade Activities Expected to Drive Vietnam Logistics Market: Ken Research
by Rati Ram Business DeveloperAccording to study, “Vietnam
Logistics Industry Comprehensive Report Q4/2019” the key companies
operating in the Vietnam logistics market are Petrovietnam Transportation
Corporation (PVT), Vietnam Ocean Shipping Joint Stock Company (VOS), Vinafreight
Joint Stock Company (VNF), Vietnam Sea Transportand Chartering Joint Stock
Company (VST), South Logistics Joint Stock Company (STG), Vietnam Container
Shipping Joint Stock Company (VSC), Vietnam Tanker Joint Stock Company (VTO),
Tan Cang Logistics & Stevedoring Joint Stock Company (TCL), Vinafco
Shipping Joint Stock Company (VFC), Dinhvu Port Investment and Development
Joint Stock Company (DVP), Vietnam Ocean Shipping Agency Corporation (VSA), Hai
An Transport And Stevedoring Joint Stock Company (HAH), Gemadept Joint Stock
Company (GMD), Cat Lai Port Joint Stock Company (CLL), CdongNai Port Joint
Stock Company (PDN), Doan xa port joint stock. Company (DXP).Key companies are
primarily focusing on the specific industry sectors for instance high-tech machines,
pharmaceutical sector, automobile sector, and other high revenue generators.
Additionally, logistics service providers are associating with blockchain
technology providers to develop platforms that will increase the security and transparency
of the logistics industry. The providers are using the latest technology, for
instance VMI (Vendor Managed Inventory) and CPFR(Collaborative Planning,
Forecasting and Replenishment) to satisfy ever-changing customer requirements.
Logistics is a process of planning and coordinating
resources & services from the point of origin to the point of consumption. It
is basically dependent on the global economic situation & international
trade flows. It provides efficient & effective transportation and storage
of goods or services. The major components of this sector involved in the
proper functioning of a business or an organization include inbound &
outbound transportation, inventory management, material handling, warehousing,
etc.
Based on model type, Vietnam logistics market is
segmented into first-party logistics (1 PL), second-party logistics (2 PL), third-party
logistics (3 PL) and fourth-party logistics (4 PL). Based on mode of transport,
market is segmented into waterways transport or sea transport, air transport,
road transport, and rail transport. Based on customer type, market is segmented
into Business to Business (B2B) and Business to Customer (B2C). In addition,
based on end-user, market is segmented into healthcare, manufacturing,
telecommunication, trade & transportation, government & public
utilities, retail, media & entertainment, banking & financial services,
information technology, and others.
The Vietnam logistics market is driven by increase
in global trade activities, followed by rise in new product development, increase
in advancement in information technology & transportation sector, growth in
trade related agreements &global logistics infrastructure, rise in trend
towards online shopping along with technological advancement in transaction,
communication and increase in globalization & reduction of the trade
barriers. However, high inventory cost & low warehousing space and stringent
regulations led by government to defend the domestic industries & local
shopkeepers may impact the market.Moreover, rise in adoption of green logistics
solutions and growth in adoption of advance tracking system for delivery for
instance Global Positioning System (GPS), bar code system and Radio-Frequency
Identification (RFID) by the logistics providers for tracking application are
key opportunities for market.
In Q4/2019, Vietnam logistic industry was one of the
fastest growing industry owing to increase in import and export activities. In
upcoming years, it is predicted that this industry will be reached at rapid
pace due to growth in domestic manufacturing, high economic growth and increase
in e-commerce during the forecast period.
For More Information,
refer to below link:-
Vietnam
Logistics Market Research Report
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Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
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Created on Feb 27th 2020 01:24. Viewed 334 times.