Newark, Sept. 11, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1082.45 billion in 2023 global third-party logistics (3PL) market will reach USD 2230.96 billion in 2033. Third-party logistics (3PL) refers to the outsourcing of logistics functions such as warehousing, distribution, and transportation to specialized providers. These logistics companies manage various aspects of the supply chain to ensure products reach their destination accurately, efficiently, and on time. They often offer additional value-added services, including supply chain integration and inventory management. By outsourcing these functions, businesses can concentrate on their core activities, reduce capital expenditure, and mitigate transportation risks.
Request The Sample PDF Of This Report: https://www.thebrainyinsights.com/enquiry/sample-request/12601
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 1,082.45 billion |
| Market Size in 2033 | $ ,230.96 billion |
| CAGR | 7.5% |
| No. of Pages in Report | 139 |
| Segments Covered | service, transport, end-user and regions. |
| Drivers | The high consumer expectation and penetration of internet services |
| Opportunity | The increasing trend of e-commerce industries. |
| Restraints | The lack of infrastructure |
Key Insight of the Global Third-party logistics (3PL) Market
Asia Pacific will dominate the market during the forecast period.
In 2023, Asia Pacific held the largest market share of 34.5%. This dominance is attributed to the growing manufacturing sectors in developing countries like China and India, rising disposable incomes, and increased retail activity. The region's expanding e-commerce industry and tech-savvy consumers further contribute to the growth of the 3PL market.
In 2023, the International Transportation Management (ITM) segment dominated the market with the largest market share of 42.3% and revenue of 457.87 billion.
The service segment is divided into Dedicated Contract Carriage (DCC)/Freight forwarding, Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing & Distribution (W&D) and Value Added Logistics Services (VALs). In 2023, the International Transportation Management (ITM) segment dominated the market with the largest market share of 42.3% and revenue of 457.87 billion.
In 2023, the roadways segment dominated the market with the largest market share of 42.5% and revenue of 460.04 billion.
The transport segment includes roadways, railways, waterways and airways. In 2023, the roadways segment dominated the market with the largest market share of 42.5% and revenue of 460.04 billion.
In 2023, the manufacturing segment dominated the market with the largest market share of 38.3% and revenue of 414.57 billion.
The end-user segment consists of manufacturing, retail, healthcare, automotive and others. In 2023, the manufacturing segment dominated the market with the largest market share of 38.3% and revenue of 414.57 billion.
Procure Complete Report (388 Pages PDF with Insights, Charts, Tables, and Figures) @ https://www.thebrainyinsights.com/report/third-party-logistics-3pl-market-12601
Market Dynamics
Driver: High Consumer Expectations and Internet Penetration.
The demand for rapid delivery and high-quality service has increased as consumers expect faster and more reliable shipments. The short lifecycle of certain products and the need for delicate handling drive the need for efficient logistics solutions. Internet services have also revolutionized e-commerce, enhancing transparency and allowing consumers to track their shipments in real time. This increased expectation and technological advancement are driving the growth of the 3PL market.
Restraints: Infrastructure Challenges.
Despite improvements, inadequate infrastructure in some regions remains a significant barrier. Poorly developed roads, air services, and waterways can lead to lost shipments, tampered goods, and delays. These infrastructure limitations, coupled with regulatory complexities, can hinder the growth of the 3PL market.
Opportunities: Technological Advancements.
Innovations in technology present substantial opportunities for the 3PL market. Cloud-based platforms, big data analytics, transportation management systems, and RFID tracking are enhancing logistics operations. These technologies improve supply chain visibility, optimize transportation routes, and ensure timely and accurate delivery. The integration of advanced technologies is expected to drive growth in the 3PL market and support the expansion of e-commerce.
Inquiry Before Buying @ https://www.thebrainyinsights.com/enquiry/buying-inquiry/12601
Some of the major players operating in the global third-party logistics (3PL) market are:
• C.H. Robinson Worldwide, Inc.,
• DB Schenker
• DHL INTERNATIONAL GMBH,
• NIPPON EXPRESS,
• FedEx
• BDP International
• Burris Logistics
• Ozburn-Hessey Logistics, LLC.
• KUEHNE + NAGEL
• UPS Supply Chain Solutions Inc
Key Segments covered in the market:
By Service
• Dedicated Contract Carriage (DCC)/Freight forwarding
• Domestic Transportation Management (DTM)
• International Transportation Management (ITM)
• Warehousing &Distribution (W&D)
• Value Added Logistics Services (VALs)
By Transport
• Roadways
• Railways
• Waterways
• Airways
By End-user
• Manufacturing
• Retail
• Healthcare
• Automotive
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
Contact Us
Avinash D
Head of Business Development
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
