Dublin, Sept. 04, 2023 (GLOBE NEWSWIRE) -- The "Third-Party Logistics (3PL) Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This comprehensive study unveils the intricate dynamics of the 3PL market, highlighting its transformative journey from $997.51 billion in 2022 to $1,099.3 billion in 2023, marking a notable Compound Annual Growth Rate (CAGR) of 10.2%.
Global Landscape: Challenges and Opportunities: As nations grapple with the aftermath of the COVID-19 pandemic, the Russia-Ukraine conflict emerges as a pivotal disruption. Economic sanctions, supply chain bottlenecks, surging commodity prices, and inflationary pressures reverberate across markets worldwide. While global recovery faces short-term setbacks, the third-party logistics (3PL) market is set to flourish, with projections indicating a surge to $1,579.84 billion by 2027, at a CAGR of 9.5%.
Unlocking the Future: Technological Innovation: The 3PL market is undergoing a seismic shift propelled by technological advancements. Industry leaders are harnessing innovative solutions to bolster their competitive edge. A prime example is DHL Supply Chain's groundbreaking partnership with Microsoft. Their "plug & play" robotics platform, launched in 2020, streamlines automation integration, amplifying warehouse efficiency through Microsoft's Azure IoT technology and cloud platform services.
Strategic Acquisitions: Driving Expansion: In an era of strategic collaborations, C.H. Robinson's acquisition of Prime Distribution Services in February 2020 for $225 million stands as a testament to industry growth. This integration augments C.H. Robinson's retail consolidation prowess, reinforcing its position as a leading multimodal transportation and 3PL provider.
E-commerce's Propulsive Force: E-commerce's meteoric rise propels the 3PL market toward unprecedented growth. With e-commerce entities relying on 3PL providers for robust supply chain management, the market thrives. In the US alone, total e-commerce sales soared to $960.1 billion in 2021, marking an 18.3% YoY increase. This burgeoning sector underscores the pivotal role of 3PL in shaping modern commerce.
Unveiling Key Insights: The third-party logistics market report delves into an array of dimensions, encompassing global market size, regional dynamics, competitive landscape, market segments, trends, and future prospects. With an in-depth analysis of the present and future industry landscape, this report empowers stakeholders with comprehensive insights.
Strategies for Sustainable Growth: The report advocates strategic initiatives, such as prioritizing sustainable battery management, embracing EV charging roaming (Eroaming), offering charging as a service (CAAS), tapping into developed markets, expanding in emerging markets, fostering collaborations, and delivering competitive pricing. Furthermore, a spotlight on direct-to-consumer (DTC) advertising, active participation in trade shows, targeting urban populations, and government and commercial markets fuels industry progress.
Major players in the third-party logistics (3PL) market are DHL International GmbH, Kuehne + Nagel International AG, DB Schenker (DB Group), Nippon Express Co Ltd., Union Pacific Corporation, FedEx Corporation, United Parcel Service (UPS), Panalpina, Maersk, JB Hunt, CEVA Logistics, XPO Logistics Inc., Yusen Logistics Co. Ltd., NYK logistics Co Ltd., BDP International Inc., Burris Logistics, Kerry Logistics Network Limited, DSV A/S, GEODIS and Sinotrans Limited.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Key Questions Answered
Where is the largest and fastest-growing market for third-party logistics (3pl)? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward?
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $1099.3 billion |
| Forecasted Market Value (USD) by 2027 | $1579.84 billion |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/4ien08
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