Growth of the e-commerce industry increased focus on core competencies among manufacturers & retailers, and a surge in trading activities due to rapid globalization are the factors that 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.
The global third-party logistics 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 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.
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.
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.
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.
Top Impacting Factors Such as -
- Increase in trading activities due to globalization
- Increase in focus of manufacturers and retailers on core competencies
- Risk to goodwill of manufacturer
Key Benefits for Third-party Logistics (3PL) Market:
- This study comprises the analytical depiction of the global 3PL market analysis along with the current trends and future estimations to depict
- the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global 3 PL market with a detailed impact
- analyses.
- The current market is quantitatively analyzed from 2017 to 2025 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Third-party Logistics (3PL) 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 & Distribution
Questions answered in the 3PL Market research report:
- What is the growth rate of the 3PL market during the forecast period?
- What will be the global 3PL market size from 2018 to 2025?
- What are the leading manufacturing companies in the 3PL market?
- How the major current trends will shape the market in the future?
- What are the driving factors and opportunities in the 3PL market?
- Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
- Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?
- What are the conclusions of the 3PL market report?
Get More Information on this Report @ https://www.alliedmarketresearch.com/3PL-market
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