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 onThird-Party Logistics (3PL) Market Report. 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 themarket to reach US$ 1,675 Billion by 2028, exhibiting a growth rate (CAGR) of 8.2% during 2023-2028.
What is third-party logistics (3PL)?
Third-Party Logistics (3PL) is a key aspect of supply chain management, where companies outsource various logistics and distribution functions to specialized service providers. These third-party logistics providers offer a wide range of services that include transportation, warehousing, inventory management, order fulfillment, and other value-added services. By leveraging 3PL services, companies can focus on their core competencies while entrusting the logistics operations to experts with expertise and resources. 3PL providers have extensive networks and industry knowledge, enabling them to optimize logistics processes, reduce costs, and improve efficiency. Additionally, 3PL providers often have advanced technologies and data analytics capabilities, allowing companies to access real-time tracking and performance metrics, leading to better visibility and informed decision-making.
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What are the growth prospects and trends in the third-party logistics (3PL) industry?
The increasing globalization of trade and commerce is driving the global market. As companies expand their operations to reach international markets, they require efficient and cost-effective logistics solutions to manage complex supply chains, which has led to a increase in demand for 3PL services. Additionally, the rising focus on core competencies and cost optimization has prompted businesses to outsource their logistics functions to specialized 3PL providers. The growing e-commerce sector has also played a crucial role in augmenting the 3PL market. With the exponential growth of online retail, companies are facing higher customer expectations for fast and reliable delivery services. 3PL providers offer robust fulfillment and last-mile delivery solutions, enabling e-commerce companies to meet customer demands efficiently. Furthermore, advancements in technology, such as the Internet of Things (IoT), artificial intelligence, and blockchain, is influencing the market.
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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)
- Porters 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.
IMARCs 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 companys expertise.
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