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Global Third-Party Logistics (3PL) Market to Grow at 8.35% During 2022-2027, Impelled by Increasing Demand for Efficient Logistics Services

Published on Sep 26, 2022

According to the latest report by IMARC Group, titled "Third-Party Logistics (3PL) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global third-party logistics (3PL) market is expected to exhibit a CAGR of 8.35% during 2022-2027. Third-party logistics (3PL) is a function by which a manufacturer outsources activities related to logistics and distribution. A third-party logistics company can provide specialized services, such as inventory management, cross-docking, door-to-door delivery, and packaging of products. It provides greater flexibility by reducing overall costs related to the distribution and warehousing of goods. Besides this, it is one of the most common business models in the logistics industry that helps enable businesses to focus on their core operations while reducing shipping costs and offering a better customer experience.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Third-Party Logistics (3PL) Market Trends:

The global market is majorly driven by the increasing demand for efficient logistics services. In line with this, third-party logistics (3PL) service providers are widely adopting advanced technologies, including the Internet of Things (IoT), cloud storage, data analytics, forecasting, and real-time product tracking, for the completion of their tasks. Furthermore, continual infrastructure developments related to transportation, agriculture, and defense sectors are positively influencing the market. Apart from this, the numerous regulatory government policies related to the distribution of pharmaceuticals and food and beverages are catalyzing the market. Besides this, the availability of custom-made, industry-specific third-party services from reputed logistics service providers is propelling the market. Additionally, significant growth in the e-commerce sector is escalating the demand for logistics services in diverse areas, such as express delivery and inventory management, thus providing a boost to the market.

Market Summary:

  • On the basis of the transport, the market has been segregated into railways, roadways, waterways, and airways.
  • Based on the service type, the market has been categorized into dedicated contract carriage, domestic transportation management, international transportation management, warehousing and distribution, and value-added logistics services.
  • On the basis of the end use, the market has been classified into manufacturing, retail, healthcare, automotive, and others.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include C.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., J.B. Hunt Transport Services Inc, Kuehne + Nagel International AG (Kuehne Holding AG), Nippon Express Co. Ltd., Sinotrans and United Parcel Service.
     

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