Portland, June 18, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global third-party logistics (3PL) market garnered $869 billion in 2017 and is estimated to reach $1,513.11 billion by 2025, registering a CAGR of 7.1% from 2018 to 2025. The report offers an in-depth study of the market, covering aspects such as the key investment pockets, drivers, restraints, & opportunities, major market segments, strategic developments, and competitive landscape.

Growth of the e-commerce industry increased focus on core competencies among manufacturers & retailers, and surge in trading activities due to rapid globalization are the factors which are responsible for the market growth. Nevertheless, a lack of direct control on logistics services impedes the growth of the market. Conversely, implementation of IT solutions & software, as well as the reduction in cost & lead time, would create new opportunities in the market.

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Based on the mode of transport, the roadways segment contributed more than one-third of the total market share in 2017 and would maintain its dominance through 2025. This is attributed to the improvement in the quality of roads and increased cross-border trading activities between landlocked countries. However, the airways segment would register the highest CAGR of 10.8% from 2018 to 2025, owing to its several benefits such as speedy and urgent delivery of goods.

Based on service types, the domestic transportation management segment held the largest share in 2017, contributing more than one-third of the market revenue. It is expected to maintain its dominance throughout the forecast period. This is due to the efficient utilization of capital and integration of transportation management which helps customer to focus on core business issues. However, the other service types segment would grow at the highest CAGR of 11.2% from 2018 to 2025, owing to several benefits such as large distribution coverage and best service solutions to customers.

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The Asia-Pacific 3PL market generated more than one-third share of the total market revenue in 2017 and would retain its dominance during the forecast period. This is due to a surge in trading activities due to globalization. However, the market in LAMEA would register the fastest CAGR of 10.1% from 2018 to 2025, owing to increase in population and upsurge in R&D activities in the region.

The key players analyzed in the research include DHL, FedEx Corporation, United Parcel Service, DB Schenker, Maersk Logistics, NYK logistics, Kuehne+Nagel Inc., Union Pacific Corporation, Panalpina World Transport Ltd., and BNSF Railway Company. These market players have implemented various strategies such as partnership, expansion, collaboration, joint ventures, and others to gain a stronghold in the industry.

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