Third-Party Logistics (3PL) Market 2022: Industry Insight, Drivers, Size, Trends, Analysis and Forecast by 2027
The latest report published by IMARC Group, titled “Third-Party Logistics (3PL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on Third-Party Logistics (3PL) market outlook. 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 growth rate (CAGR) of 8.2% during 2023-2028.
Third-party logistics (3PL) represents a business process that enables manufacturers to recruit numerous organizations for outsourcing activities related to supply chain management, including distribution and logistics. It aids in cross-docking, door-to-door delivery, transporting, order fulfillment, freight forwarding, picking, packing, and inventory forecasting at reduced costs. This, in turn, assists enterprises in providing a better customer experience, ensuring scalability, mitigating the risks of product damages, promoting business growth and market expansion, enabling the completion of core business operations, etc. Presently, third-party logistics is commercially available in varying transportation modes and service types, including dedicated contract carriage (DCC) and domestic as well as international transportation management.
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Market Trends:
The widespread adoption of these processes across several sectors, such as retail, automotive, construction, telecommunications, e-commerce, manufacturing, food and beverage (F&B), etc., on account of the increasing need for outsourcing major transportation services to reduce shipping costs and manage delivery time is primarily stimulating the third-party logistics (3PL) market. Furthermore, continuous technological advancements, including the introduction of supply chain management (SCM), cloud, enterprise resource planning (ERP), transportation management systems (TMS), international trade logistics systems (ITLS), and web-based solutions that help in mitigating energy consumption and optimizing operational efficiencies are acting as a significant growth-inducing factor. Apart from this, the rising integration of radio-frequency identification (RFID) chips to enable manufacturers and consumers to track product location, orders, and freight shipment with the support of numerous electronic gadgets and extensive investments in R&D activities are expected to fuel the third-party logistics (3PL) market over the forecasted period.
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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:
- Railways
- Roadways
- Waterways
- Airways
Breakup by Service Type:
- Dedicated Contract Carriage
- Domestic Transportation Management
- International Transportation Management
- Warehousing and Distribution
- Value Added Logistics Services
Breakup by End Use:
- Manufacturing
- Retail
- Healthcare
- Automotive
- Others
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 (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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