Third-Party Logistics (3PL) Market to Undertake Strapping Growth During 2022-2027
The latest report published by IMARC Group, titled “Third-Party Logistics (3PL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on Third-Party Logistics (3PL) market report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global third-party logistics (3PL) market is expected to exhibit a CAGR of 8.35% during 2022-2027.
Third-party logistics (3PL) is the business process of recruiting different organizations for outsourcing activities related to supply chain management, such as distribution and logistics. It provides specialized services to manufacturers at reduced costs, such as door-to-door delivery, order fulfilling, cross-docking, freight forwarding, transporting, picking, packing, and inventory forecasting. As a result, it ensures improved scalability, helps in promoting business growth, aids in offering a better customer experience, mitigates the risks of product damages and enables the completion of core business operations in a seamless manner. The demand for third-party logistics is increasing across the globe due to significant growth in the e-commerce sector.
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The rapid coronavirus disease (COVID-19) outbreak and the consequent global implementation of mandatory lockdown restrictions have positively impacted the global third-party logistics (3PL) market. The temporary closure of physical stores and easy access to numerous e-commerce websites have led to a shift among consumers and businesses towards online channels for purchasing essential and non-essential products. However, the market faced a few challenges, such as the disruptions in the supply chain hampered the supply of raw materials and components, that led to production delays.
The global market is majorly driven by the widespread adoption of third-party logistics across various industries. This is supported by the rising need to outsource significant transportation and logistics services to reduce shipping costs and manage delivery time across the automotive, construction, e-commerce, food and beverage (F&B), and manufacturing sectors. In addition to this, the advent of enterprise resource planning (ERP), international trade logistics systems (ITLS), supply chain management (SCM), transportation management systems (TMS), and web-based solutions that aid in optimizing operational efficiencies while mitigating the energy consumption is positively influencing the market. Moreover, the advent of just-in-time delivery models and the increasing adoption of a single warehouse approach is creating a positive market outlook. Some of the other factors driving the market further include rapid urbanization and industrialization, extensive utilization of installed mobile applications, and the growing trading activities due to globalization.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- H. Robinson
- CMA CGM
- DB Schenker
- DHL (The Deutsche Post AG)
- DSV A/S
- Expeditors International of Washington Inc
- FedEx Corporation
- Hitachi Transport System Ltd.
- B. Hunt Transport Services Inc
- Kuehne + Nagel International AG (Kuehne Holding AG)
- Nippon Express Co. Ltd.
- Sinotrans United Parcel Service
Third-Party Logistics (3PL) Market Segmentation:
Our report has categorized the market based on region, transport, service type and end use.
Breakup by Transport:
Breakup by Service Type:
- Dedicated Contract Carriage
- Domestic Transportation Management
- International Transportation Management
- Warehousing and Distribution
- Value Added Logistics Services
Breakup by End Use:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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