Pune, March 22, 2022 (GLOBE NEWSWIRE) -- The Brainy Insights launched a study titled Third-Party Logistics (3PL) Market Size 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)), Transport (Roadways, Railways, Waterways, Airways), End User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028
The global Third-Party Logistics (3PL) market is anticipated to grow from USD 943.50 billion in 2020 to USD 1554.70 billion by 2028, at a CAGR of 6.51% during the forecast period 2021-2028. Global Third-Party Logistics (3PL) market is witnessing a considerable growth owing to the high consumer expectation and penetration of internet services.
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The International Transportation Management (ITM) segment is accounted for the highest market share of 42.13% in 2020
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). The International Transportation Management (ITM) segment is accounted for the highest market share of 42.13% in 2020. This is due to the expanding e-commerce industries. The international trade has also increased with the advancement of technologies and with the betterment of the infrastructure in the countries. Also, trade liberalization policies have also boosting international trade.
The roadways segment accounted for USD 381.70 Billion of the market value in 2020
The transport segment includes roadways, railways, waterways and airways. The roadways segment accounted for USD 381.70 Billion of the market value in 2020. This is because most countries are very well connected by roads. In tier 2 and tier 3 cities in many countries, roadways are a better way to transport.
The manufacturing segment accounts for 38.14% of market share in 2020
The end-user segment consists of manufacturing, retail, healthcare, automotive and others. The manufacturing segment accounts for 38.14% of market share in 2020. This is because of the growing manufacturing activities in countries like India, China, Brazil, Mexico etc. The rise in the manufacturing activities creates the demand for outsourcing of the products and raw materials. This drives the logistics market
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Regional Segmentation Analysis:
The regions analyzed for the Third Party Logistics (3 PL) market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa.Asia Pacific region is having the highest market share of 34.11% in 2020. This is due to the growing manufacturing zone in the developing countries of the region like China and India. Also, because of the increase in disposable income of the people, the retail sector has also grown in the region. The surge in per capita income has also changed the lifestyle of the people, their need has increased, and they can now buy quality products, they have become more tech-savvy, this has also grown the e-commerce industries in the region, which in turn drives the third-party logistics market. North America had the second-largest market share of 28.78% in 2020. This is because all the key logistics companies are present in the region and the region is having the most advanced infrastructure and well connected by all means of transport from railways, road, sea etc.
Competitive Analysis:
The major players ofmarketincludeC.H. Robinson Worldwide, Inc., DB Schenker, DHL INTERNATIONAL GMBH, NIPPON EXPRESS, FedEx, BDP International, Burris Logistics, Ozburn-Hessey Logistics, LLC., KUEHNE + NAGEL and UPS Supply Chain Solutions Inc. among others.
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Regional Segment Analysis of the Paraxylene (PX) Market
• North America (U.S. , Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The global Third-Party Logistics (3PL) market is analysed on the basis of value (USD Billion).All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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