Third Party Logistics Market Size worth USD 1.2 trillion by 2025 | CAGR 7.5%
Published | 18 October 2019
According to BlueWeave
Consulting, the Global Third Party Logistics Market is projected to grow at a
significant rate during the forecast period. The global third party logistics
market size is anticipated to reach USD 1.2 trillion by the end of the year
2025, exhibiting a steady growth rate of CAGR of 7.5% during the forecast
period. The global third party logistics market is growing owing to various
factors.
Development of the
e-commerce industry expanded spotlight on center abilities among makers and
retailers, and flood in exchanging exercises because of quick globalization are
the components that are answerable for the market development. In any case, an
absence of direct control on coordinations administrations obstructs the
development of the market. On the other hand, usage of IT arrangements and
programming, just as the decrease in expense and lead time, would make new open
doors in the market.
Interest for efficient
inventory management and improved working capital is relied upon to build the
reliance on 3PL suppliers. Development of the internet business industry over a
few locales have expanded cargo transportation, in this way making new open
doors for 3PL suppliers. Alongside this, acknowledgment of cloud-based
innovation in 3PL organizations will react requests by perceiving the
requirement for the client gets to which is relied upon to all the more likely
meet the occasional patterns productively.
The
Domestic Transportation Management (DTM) segment from the service segment holds
a major share in the global third party logistics market during the forecast
period
The Domestic Transportation
Management (DTM) section held the biggest market size in 2019. Worldwide, just
as domestic trade, has expanded altogether because of globalization, which has
brought about clients requesting proficient coordinations activities to satisfy
their requirement for opportune conveyance. Service providers are endeavoring
to decrease the unpredictability and expenses of their store network by
improving the authority over it, so as to achieve compelling administration of
an acquired transportation process.
The
roadways segment from the transportation mode holds a major share in the global
third party logistics market during the forecast period
The roadways section caught
the most elevated income share in 2019, being esteemed at well over USD 400.0
billion. Expanding accentuation on building up a coordinations foundation and
an open private association model for thruway development is boosting the
development of 3PL administrations through street transportation. Developing
number of government activities and expanding ventures to create street
transport systems to lift cargo sending have driven merchants to receive street
transportation modes. A firm intend to create coordinations foundations and
development in new street concession models are moving the development of 3PL
administrations through roadways.
Asia-Pacific
region holds a major share in the global third party logistics market during
the forecast period
The Asia-Pacific 3PL market
produced more than 33% portion of the absolute market income in 2017 and would
hold its predominance during the gauge time frame. This is because of a flood
in exchanging exercises because of globalization. Notwithstanding, the market
in LAMEA would enlist the quickest CAGR of 10.1% from 2018 to 2025, inferable
from increment in populace and upsurge in R&D exercises in the region.
Global
Third Party Logistics Market: Competitive Insight
Union Pacific Corporation,
Panalpina World Transport Ltd., and BNSF Railway Company, DHL, FedEx
Corporation, United Parcel Service, DB Schenker, Maersk Logistics, NYK
logistics, Kuehne+Nagel Inc., among others are some of the major players in the
global third party logistics market. E-commerce has changed the customary
retail division where coordinations assume a significant job. In certain cases
when an item is restored, the organization needs to deal with the switch
coordinations process, 3PL suppliers are utilizing this open door by giving
adaptable and particular administrations. These propelled administrations can
permit end clients or the shipper to follow the development of merchandise or
items. To stay focused in the market, driving organizations are deliberately
associated with coordinated efforts with and acquisitions of little and mid-
sized organizations.
Browse Detailed Analysis
with TOC, “Global Third Party Logistics
Market; by Services (Warehousing, International Transportation, Domestic
Transportation, and Inventory Management), by Mode of Transport (Railways,
Waterways, Roadways, and Airways) – Market Growth Analysis and Forecast to
2015-2025”
At
The in-depth analysis of the
report provides the growth potential, upcoming trends and statistics of global
Third Party Logistics market size & forecast. The report promises to
provide state-of-the-art of Third Party Logistics production and industry
insights which help decision makers to take sound strategic decisions.
Furthermore, the report also analyzes the market drivers and challenges and
competitive analysis of the market.
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Related Report
Publish Date: December 2021
Global third party logistics market is set to witness a healthy growth. E-commerce has led to an increase in freight transportation, thus creating a number of opportunities for third party logistics companies worldwide
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