Hyderabad, July 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Third-Party Logistics (3PL) Market Report (2023-2028)," the market is estimated at USD 1,216.07 billion in 2023. It is expected to register a CAGR of 5.48% during the forecast period.
Third-party logistics is the process wherein the provider offers a variety of outsourced logistics services. These services include any activity that is related to the management of one or more facets of procurement and fulfillment activities.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1,216.07 billion |
| Market Size (2028) | USD 1,587.48 billion |
| CAGR (2023-2028) | 5.48% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Order fulfillment, pickup, and delivery services by market players. |
| Replenishment of high-selling items, picking efficiency, and smart inventory management. |
Who are the Top Companies in the Global Third-Party Logistics (3PL) Market?
The third-party logistics (3PL) market is immensely competitive and fragmented in nature. Established players who have made substantial investments in products and manufacturing plants. They have also formed alliances with mid-sized and small-sized companies.
Notable players in the global third-party logistics (3PL) market are,
- Agility Logistics
- Ceva Logistics
- DB Schenker
- DHL
- Nippon Express
- Yusen Logistics
- Kerry Logistics
- CH Robinson
- AmeriCold Logistics
- FedEx Corporation
- Kuehne+Nagel Inc.
- MAERSK
- DSV
- Panalpina
- Geodis
Other Reports That Might Be of Your Interest:
- Automotive 3PL Market Report - The automotive 3PL market is expected to register a CAGR of more than 7.00% during the forecast period (2023-2028).
- France 3PL Market Report - The French 3PL market size is estimated at USD 31.41 billion in 2023. It is expected to reach USD 37.86 billion by 2028, registering a CAGR of 3.81% during the forecast period (2023-2028).
Key Highlights from the Global Third-Party Logistics (3PL) Market Report:
Increase in E-commerce Sales Driving the Market
- Shippers of different types are gradually turning to 3PL providers to help them respond to the changing expectations of the customers. It helps them deal with problems like transportation issues, labor constraints, supply chain disruptions, and inflation.
- Established 3PLs to take care of a variety of e-commerce operations. The smaller providers deal with e-commerce fulfillment operations and keep them separate from their business-to-business operations related to warehousing.
End-to-end Logistics to Reduce by Investment in Advanced Technology
- Customers in the market nowadays have amplified their taste. They expect low prices, seamless experience, emphasis on sustainability, and faster shipping, as far as e-commerce services are concerned.
- Quick commerce, a new concept, is being adopted by different industries all around the world, such as e-commerce, grocery, and pharmaceuticals. Various companies are focused on improving their delivery services. They are replacing traditional business models and distribution channels
What are the Latest Developments in the Global Third-Party Logistics (3PL) Market?
- In December 2022, a robotics partnership was established for the first time between SEKO Logistics and GreyOrange’s Ranger Assist Bots. In the first stage of the plan, SEKO aims to deploy 15 bots in one of its Milton Keynes, UK.
- In September 2022, a start-up aimed to resolve supply chain and logistics issues, AI LOGISTIX, announced a partnership with SUN Mobility so that it could become the last-mile delivery partner in India.
Mordor Intelligence has Segmented the Global Third-Party Logistics (3PL) Market Based on Service, End User, and Geography:
- By Service (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Domestic Transportation Management
- International Transportation Management
- Value-added Warehousing and Distribution
- By End User (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Automobile
- Energy
- Manufacturing
- Life Science and Healthcare
- Retail Technology
- Other End Users
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- India
- China
- Singapore
- Japan
- South Korea
- Vietnam
- Australia
- Rest of Asia-Pacific
- Middle East & Africa
- South Africa
- United Arab Emirates
- Saudi Arabia
- Egypt
- Rest of Middle East & Africa
- Europe
- Germany
- Spain
- France
- Russia
- United Kingdom
- Rest of Europe
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Third Party Logistics (3PL) Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Germany Automotive 3PL Market Report - The German automotive 3PL market is expected to register a CAGR of more than 3.00% during the forecast period (2023-2028).
- UAE 3PL Market Report - The UAE 3PL market size is estimated at USD 6.14 billion in 2023. It is expected to reach USD 8.55 billion by 2028, registering a CAGR of 6.84% during the forecast period (2023-2028).
- Spain 3PL Market Report - The Spanish 3PL market size is estimated at USD 15.44 billion in 2023. It is expected to reach USD 18.29 billion by 2028, with a CAGR of 3.45% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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