Dublin, May 04, 2023 (GLOBE NEWSWIRE) -- The "Third-party Logistics Market by Mode of Transport, Service Type, Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The third-party logistics (3PL) market is expected to experience a significant growth rate of 8.8% from 2022-2031 owing to rise in focus of manufacturers and retailers on core competencies and increase in trade activities due to globalization.
Third-party logistics (3PL) is the function by which a manufacturer outsources activities related to logistics and distribution. A third-party logistics company can provide specialized services such as inventory management, cross-docking, door-to-door delivery, and packaging of products.
Third-party logistics provides greater flexibility by reducing overall costs related to the distribution and warehousing of goods. Moreover, this is the most common business model in the logistics industry, enabling customers to focus on their core businesses. Technology plays an important role for shippers as well as service providers. The shippers are majorly seen depending on third-party logistics for costly & sophisticated technology solutions.
Meanwhile, third-party service logistics providers purchase the technologies/software and implement them in their operation to avail the most productivity. For instance, Schneider Logistics uses a Web-based SUMIT system to serve a much broader range of customers in a cost-effective manner.
The key factors that drive the growth of the third-party logistics (3PL) market include rise in trading activities due to globalization and increase in focus of manufacturers & retailers on core competencies which creates lucrative opportunities for the growth of the market across the globe.
Moreover, factors such as the use of IT solutions & software to monitor logistics operation and cost-cutting along with lead time reduction due to adoption of multi-modal system also propels the market toward positive growth across the globe.
Factors such as increase in reverse logistics operations, continuous development in e-commerce, and increase in collaboration of logistics service companies with transport companies have provided a boost to third-party logistics (3PL) market globally.
The market also offers growth factors to the key players operating in the market due to increase in investment, rapid evolution of regulatory policies, and mega infrastructural railway projects.
For instance, in November 2022, the Indian railways arm, Dedicated Freight Corridor Corporation of India Limited (DFCCIL) has planned to develop a multimodal logistics park In Uttar Pradesh (India) for cargo movement. This mega-logistics hub will reduce the rail transportation cost by giving competitive edge to the Indian 3PL sector.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the third-party logistics (3pl) market analysis from 2021 to 2031 to identify the prevailing third-party logistics (3pl) market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the third-party logistics (3pl) market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global third-party logistics (3pl) market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Mode of Transport
- Railways
- Roadways
- Waterways
- Airways
By Service Type
- Dedicated Contract Carriage (DCC)
- Domestic Transportation Management
- International Transportation Management
- Warehousing and Transportation
- Others
By Industry
- Technological
- Automotive
- Retailing
- Elements
- Food and Beverages
- Healthcare
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- C.H. Robinson Worldwide, Inc.
- db schenker
- DSV
- Geodis
- Kuehne+Nagel Inc.
- FedEx Corporation
- XPO Logistics Inc.
- United Parcel Service of America, Inc.
- a.p. moller - maersk
- DHL International GmbH
Key Market Insights
- On the basis of mode of transport, the roadways segment was the highest revenue contributor to the market and is estimated to reach $899.3 billion by 2031, with a CAGR of 7.8%. However, the airways segment is estimated to be the fastest-growing segment with a CAGR of 9.9% during the forecast period.
- On the basis of service type, the domestic transportation management segment was the highest revenue contributor to the market and is estimated to reach $973.5 billion by 2031, with a CAGR of 8.1%. However, the dedicated contract carriage (DCC) segment is estimated to be the fastest-growing segment with a CAGR of 12.2% during the forecast period.
- On the basis of industry, the technological segment was the highest revenue contributor to the market and is estimated to reach $644.2 billion by 2031, with a CAGR of 6.8%. However, the healthcare segment is estimated to be the fastest-growing segment with a CAGR of 11.3% during the forecast period.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: THIRD-PARTY LOGISTICS (3PL) MARKET, BY MODE OF TRANSPORT
CHAPTER 5: THIRD-PARTY LOGISTICS (3PL) MARKET, BY SERVICE TYPE
CHAPTER 6: THIRD-PARTY LOGISTICS (3PL) MARKET, BY INDUSTRY
CHAPTER 7: THIRD-PARTY LOGISTICS (3PL) MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/nwd9m0
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