The global Third Party Logistics (3PL) market is expected to
reach USD 1.24 trillion by 2025, according to a new report by Grand View
Research, Inc. The increasing outsourced-logistics functions availed by middle
market companies to address their logistics challenges, are expected to
positively impact the industry growth.
The domestic and global markets
for outsourced-logistics services are continuously evolving toward advanced
services and cloud-based technologies. The diligence related to logistics costs
has led to an increased focus on the key concerns such as supply chain
sustainability and security. Lowering of inventory costs is becoming a norm in
the automotive and retail sectors, which is providing ample growth
opportunities for 3PL providers.
Third party logistics providers
are strengthening their relationships with freight providers to optimize their
supply chain capabilities. They are also investing in contemporary IT
solutions, commercial offerings, cloud-based solutions, and proprietary innovations
to create a leading-edge approach. Though the economic conditions are varying
across countries, significant improvements are visible in the key regions of
Asia Pacific and North America.
3PL providers allow businesses to
focus on their core activities such as R&D, manufacturing, and strategic
planning, thereby relieving them from the daily burden of operational logistics
issues. The key 3PL vendors use advanced applications and IT software, which
enhance their distribution coverage and provide quality services to the
customers. Omnichannel distribution has gained momentum in the past few years,
primarily due to the increased penetration of e-commerce.
Browse full research report on Third Party Logistics
(3PL) Market: http://www.grandviewresearch.com/industry-analysis/third-party-logistics-market
Further key findings from
the report suggest:
- The value added logistics services segment is
expected to be the fastest-growing segment, owing to the increasing need
for inventory management and improved cycle times
- The retail sector is expected to grow at a CAGR of
over 7.5%; this growth can be attributed to the evolution of omni channel
retailing and the need for data-driven analytics solution to manage fleet
and warehousing
- Airways are expected to witness the fastest growth
over the forecast period as consumers are willing to pay a premium price
to receive products at the earliest
- The Middle East 3PL market is expected to reach a
revenue share of over 8.5% by 2025, due to the increase in imports and
exports and an upward trend in local manufacturing
- The key industry players include DHL, FedEx Corporation,
C.H. Robinson Worldwide, UPS Supply Chain Solutions, and Kuehne + Nagel
International AG
- Several organizations are transitioning toward 3PL
vendors to deliver enhanced transportation management services for
increased visibility and predictability
Grand View Research has segmented the Third Party Logistics
(3PL) market based on service,
transport, end-use, and region:
3PL Service Outlook (Revenue, USD Billion, 2014 - 2025)
- Dedicated
Contract Carriage (DCC)/Freight forwarding
- Domestic
Transportation Management (DTM)
- International
Transportation Management (ITM)
- Warehousing
& distribution
- Value
added logistics services
3PL Transport Outlook (Revenue, USD Billion, 2014 - 2025)
- Roadways
- Railways
- Waterways
- Airways
3PL End-Use Outlook (Revenue, USD Billion, 2014 - 2025)
- Manufacturing
- Retail
- Healthcare
- Automotive
- Others
3PL Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia
Pacific
- China
- India
- Japan
- Australia
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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