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The global third-party logistics (3PL) market is expected to exhibit a CAGR of 8.35% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Third-party logistics (3PL) refers to a business process that enables manufacturers to recruit different organizations for outsourcing activities related to supply chain management, including distribution and logistics. It assists in cross-docking, door-to-door delivery, transporting, orders fulfilling, freight forwarding, picking, packing, and inventory forecasting at reduced costs. This, in turn, aids enterprises in providing a better customer experience, ensuring scalability, mitigating the risks of product damages, promoting business growth and market expansion, and enabling the completion of core business operations. At present, 3PL is commercially available in varying transportation modes and service types, including dedicated contract carriage (DCC), domestic and international transportation management.
The widespread adoption of third-party logistics across, retail, automotive, hospitality, construction, telecommunication, e-commerce, manufacturing, and food and beverage (F&B) sectors can be attributed to the increasing need for outsourcing major transportation and logistics services to reduce shipping costs and manage delivery time. This, in turn, is currently driving the market toward growth. In line with this, significant technological advancements, such as 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 helps in mitigating energy consumption and optimizing operational efficiencies is acting as another growth-inducing factor. Moreover, the large-scale integration of radio-frequency identification (RFID) chips to enable manufacturers and consumers to track the product location, orders, and freight shipment with the support of various electronic gadgets are also propelling the market growth. Additionally, the sudden outbreak of coronavirus disease (COVID-19) pandemic and the consequent implementation of mandatory lockdowns across the globe has facilitated the rise in the demand for third-party logistics services across various e-commerce and online platforms for inventory management and performing the delivery of products within stipulated time phrase. Other factors, such as the escalating trading activities due to globalization and the extensive utilization of installed mobile apps are further creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global third-party logistics (3PL) market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on transport, service type and end use.
Breakup by Transport:
Breakup by Service Type:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis||2021|
|Segment Coverage||Transport, Service Type, End Use, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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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