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Third-Party Logistics Market: Business overview, Upcoming
Trends and Top Company Analysis Forecast - 2031
Third-Party Logistics, also known as 3PL, is a supply
chain system or logistics management system among organizations, that enables
third-party businesses to outsource e-commerce logistics processes. The 3PL
additionally includes distribution, inventory management, fulfillment, and
warehousing services. The primary services offered by third-party logistics
comprise receiving, packing, storing, and shipping operations.
The Global Third-Party Logistics Market is estimated to grow
at a steady rate and comprised a significant value of $3.4 billion in 2020,
which is projected to reach $6 billion by 2027 with a significant CAGR of
8.5% during the forecast period 2024-2031. The rapidly increasing activities of
trading with increasing globalization are witnessing various growth
opportunities for the Global Third-Party Logistics Market. The trading
activities propel the demand for efficient tracking and enhanced delivery that
can be attributed to Third Party Logistics. Thus, these activities are
projected to drive the growth of the Global Third-Party Logistics Market during
the forecast period.
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The increasing emergence of e-commerce industries and rising
implementation of 3PL among e-commerce sectors, economic cost and managed
delivery features attributed by the third parties over their logistics
operations, and enhanced supply chain management are some major factors, which
are contributing as market drivers for the growth of the Global Third-Party
Logistics Market and are expected to create lucrative growth opportunities for
the market. The various specialized services and efficient offerings provided
by third-party logistics include- door-to-door delivery, cross-docking,
packaging, and inventory management. These services are expected to leverage
the growth of the Global Third-Party Logistics Market during the forecast
period.
Furthermore, the growth of the Global Third-Party Logistics
Market in terms of market shares and revenues is studied on the basis of
segmental analysis. The Third-Party Logistics Market is segmented By Transport,
By Service Type, and By Region Segment. Based on the Transport, the Third-Party
Logistics Market is segmented into- Roadways, Railways, Waterways, and Airways.
The largest market size and shares are accounted by the Roadways segment, for
the Global Third-Party Logistics Market. The economic and effective
transportation of various on-road vehicles is compelled by third-party
logistics. Thus, roadways transportation services are anticipated to drive the
growth of the Global Third-Party Logistics Market, during the forecast
period.
By Service Type, the Global Third-Party Logistics Market is
further segmented as Dedicated Contract Carriage (DCC), Domestic Transportation
Management, International Transportation Management, Warehousing &
Distribution, and Others. The Global Third-Party Logistics Market is dominated
by Warehousing & Distribution segment and is expected to account largest
market size and highest CAGR during the forecast period. The Warehousing
provides efficient, economic, and reduced damage risk services as it enables
storage, packaging, and distribution of the products over third party
operations. This factor contributed by Warehouse is expected to fuel the growth
of the Global Third-Party Logistics Market.
Full report of Third-Party
Logistics Market available @ https://www.omrglobal.com/industry-reports/third-party-logistics-market
Market Coverage
- Segment
Covered-
o By
Transport
o By
Service Type
- Competitive
Landscape- Cisco BDP International, C.H. Robinson Worldwide, Inc., CEVA
Logistics, DSV, DB Schenker Logistics, FedEx, J.B. Hunt Transport, Inc.,
Kuehne + Nagel, Nippon Express and United Parcel Service of America, among
others.
Key questions addressed by the report
- What
is the market growth rate? - Which
segment and region dominates the market in base year? - Which
segment and region will project fastest growth in the market? - How
COVID-19 impacted the market?
o Recovery
Timeline
o Deviation
from pre-COVID forecast
o Most
affected region and segment
- Who
is the leader in the market? - How
players are addressing challenges to sustain growth? - Where
is the investment opportunity?
Global Third-Party Logistics
Market Segment
By Transport
·
Roadways
·
Railways
·
Waterways
·
Airways
By Service Type
·
Dedicated Contract Carriage (DCC)
·
Domestic Transportation Management
·
International Transportation Management
·
Warehousing & Distribution and Others
For More
Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/third-party-logistics-market
Media Contact:
Contact Person: Mr. Anurag Tiwari
Email: anurag@omrglobal.com
Contact no: +91 780-304-0404
Company Name: Orion Market Research
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known
for its crisp and concise reports. The company is equipped with an experienced
team of analysts and consultants. OMR offers quality syndicated research
reports, customized research reports, consulting and other research-based
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