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 Size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global third-party logistics (3PL) market size reached US$ 1,034 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,675 Billion by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2023-2028.
Third-party logistics (3PL) refers to outsourcing logistics and supply chain management functions to external service providers. These entities streamline transportation, warehousing, distribution, and fulfillment for businesses. One key advantage is cost efficiency, as companies can focus on their core competencies while 3PL providers leverage expertise and economies of scale. Additionally, 3PL offers scalability, enabling businesses to adapt to fluctuating demands without significant infrastructure investments. Improved flexibility and responsiveness to market changes characterize the benefits of 3PL, allowing companies to enhance efficiency, reduce lead times, and ultimately improve customer satisfaction through optimized logistics operations.
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Market Trends:
The global market is majorly driven by the increasing trend toward globalization and international trade. This fosters the need for efficient and agile supply chain solutions, making 3PL services increasingly attractive. These providers offer expertise in navigating complex global logistics, customs, and regulatory frameworks. Furthermore, the expansion of the e-commerce industry significantly contributes to the market. With the rise in online retail, businesses seek reliable partners to manage their supply chains, including order fulfillment, warehousing, and last-mile delivery. 3PL providers offer scalable solutions that align with the dynamic demands of the e-commerce landscape. Moreover, the complexity of modern supply chains, coupled with the demand for specialized services, drives businesses to leverage the expertise of 3PL providers. These entities offer advanced technologies, such as real-time tracking and data analytics, optimizing supply chain visibility and efficiency. Additionally, cost considerations play a crucial role. Outsourcing logistics functions to 3PL providers often proves cost-effective for businesses, allowing them to focus on core competencies while benefiting from specialized logistics partners’ economies of scale and operational efficiencies.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- 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
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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