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Third-party Logistics Market Growth Factors:
Rising e-commerce and retail businesses are significantly escalating the demand for third-party logistics. Main factors contributing towards the growth of e-commerce business are changing consumer purchasing behavior, easy availability of the products over internet, no need to go out for shopping in the digital world, and many others. Additionally, growing demand for fast and cost-effective logistics services also aid in the growth of the third-party logistics market. Hence, the market anticipated to witness profound growth over the forecast period.
Apart from this, increasing tilt of manufacturing businesses to outsource their supply chain also provides significant escalation to the third-party logistics market. Earlier, these businesses invest largely on maintaining their supply chain and inventory as they need to manage their logistics from raw material procurement to finished product distribution process. By outsourcing supply chain process, manufacturers are now free from warehouse management, inventory management, and focus more towards their market growth strategies.
However, COVID-19 outbreak in the early 2020 has significantly impacted the global supply chain. The logistics network has also been disrupted due to stringent regulations imposed by the government in order to prevent the rapid spread of virus. Several third-party logistics companies are facing uncertainty for the movement of their goods. In addition, lack of human resource and less working hour have also impacted badly on the third-party logistics market.
Third-party Logistics Market Report Scope
|Market Size||US$ 1710.58 Bn by 2027|
|Growth Rate||CAGR of 8.3% from 2021 to 2027|
|Forecast Period||2021 to 2027|
|Segments Covered||Service, Transport, End-use|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, Latin America|
Third-party Logistics Market Report Highlights
- North America dominated the global third-party logistics market in 2020 and expected to grow at a steady rate owing to rising demand for cold storage in the region
- The Asia Pacific anticipated to witness the highest growth rate over the forecast period due to increasing industrialization and manufacturing businesses in the region
- By service, Domestic Transportation Management (DTM) led the global third-party logistics market in 2020 with a revenue share of around 30.3%
- Roadways segment captured major revenue share of the global market because of rapid development in the logistics infrastructure
- Airways expected to be the fastest growing transportation segment owing to need for fast and cost-effective delivery services
- In terms of end-use, manufacturing segment captured major revenue share of nearly 25.5% owing to shifting of companies to supply chain outsourcing rather than maintaining in-house supply chain
- Retail segment anticipated flourishing growth over the upcoming years because of rapid growth of retail businesses
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some of the prominent players in the third-party logistics market include:
- Burris Logistics
- CEVA Logistics
- C.H. Robinson Worldwide (CHRW) Inc.
- DB Schenker Logistics
- FedEx Corporation
- BDP International
- UPS Supply Chain Solutions, Inc.
- Kuehne + Nagel International AG
- J.B. Hunt Transport Services, Inc.
- Nippon Express Co., Ltd.
- XPO Logistics, Inc
Third-party Logistics Market Segments
- Domestic Transportation Management (DTM)
- International Transportation Management (ITM)
- Dedicated Contract Carriage (DCC)/ Freight forwarding
- Value-Added Logistics Services (VALs)
- Warehousing & Distribution (W&D)
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2019 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global third-party logistics market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the third-party logistics market.
The report includes country-wise and region-wise market size for the period 2019-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2019-2030.
Why should you invest in this report?
If you are aiming to enter the global third-party logistics market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for third-party logistics are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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