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 Share. 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.
What are third-party logistics (3PL)?
Third-party logistics (3PL) is a business model in which a company outsources its logistics and distribution activities to a third-party provider. They allow companies to focus on their core competencies and outsource the non-core activities to a specialist provider. Their providers offer a wide range of services, such as transportation, warehousing, freight forwarding, customs clearance, order fulfillment, inventory management, and more. With 3PL, companies are able to reduce costs, increase efficiency, and improve customer service. 3PL providers have the experience and expertise companies need to manage their supply chain operations effectively. They offer transportation and warehousing services, manage inventory, deliver orders, and facilitate customs clearance. Additionally, they are considered an excellent way for companies to outsource their logistics and supply chain operations. It can help them reduce costs, increase efficiency, and improve customer service.
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What are the growth prospects and trends in the third-party logistics (3PL) industry?
The escalating demand for third-party logistics (3PL) majorly drives the global market. This can be supported by the growing need for outsourcing transportation and logistics services to reduce shipping costs and manage delivery time. This is encouraging the adoption of third-party logistics in various industries, such as retail, automotive, hospitality, construction, telecommunication, e-commerce, manufacturing, and food and beverage sectors, further propelling the market. Apart from this, the integration of radio-frequency identification (RFID) chips for enabling tracking of product location, orders, and freight shipments is significantly supporting the demand. Moreover, continual 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 are contributing to the market. Some of the other factors driving the market include rapid industrialization and significant growth in the e-commerce sector.
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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
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