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.
Full
Research Report On Global Third Party Logistics (3PL) Market Analysis:
www.grandviewresearch.com/industry-analysis/third-party-logistics-market
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
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/communication-services
www.grandviewresearch.com/industry/communication-services
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
View press
release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-third-party-logistics-market
www.grandviewresearch.com/press-release/global-third-party-logistics-market
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.
For more
information: www.grandviewresearch.com
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