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.
In depth
research report on third party logistics market
http://www.grandviewresearch.com/industry-analysis/third-party-logistics-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
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
o
France
·
Asia Pacific
o
China
o
India
o
Japan
o
Australia
·
Latin America
o
Brazil
o
Mexico
·
Middle East
and Africa
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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, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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