Dublin, Sept. 07, 2022 (GLOBE NEWSWIRE) — The “Third Party Logistics Market Size, Share & Trend Analysis Report By End Use (Manufacturing, Automotive), By Service (DTM, ITM, VAL), By Transportation (Roads, Airways), by Region and Segment Forecast, 2022-2030” report has been added to from ResearchAndMarkets.com offer.
The global third party logistics market size is expected to reach USD 1,998.73 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030. The advent of new technologies is changing the dynamics of the 3PL industry .
Advanced data collection capabilities, warehouse automation and digitization of the entire supply chain enable companies to adopt a consistent, innovative, customer-centric and agile approach. As a result, 3PL companies provide technology-driven services by investing in blockchain solutions, mobile technologies, and 3PL software to gain competitive advantage in a fiercely competitive market.
The Internet of Things (IoT) and cloud-based logistics management solution turns data into actionable value-added information, which can shape the strategic decision-making process and increase productivity. Some of the capital-intensive organizations are increasing their information technology (IT) spending and using predictive analytics for supply chain improvement.
For example, CH Robinson Worldwide, Inc. uses artificial intelligence (AI) technology to analyze customer data and be notified of extreme weather conditions or traffic disruptions. Logistics automation is expected to play a vital role in the growth of the market. Using robots in warehouses and loading docks helps streamline order fulfillment services.
Using an Automated Guided Vehicle (AGV) can help reduce human error, solve material handling issues, ensure high volume movement of goods, and increase accuracy and repeatability. To deliver immediate value and long-term returns, businesses are widely accepting logistics automation.
Value-added logistics services are expected to experience the highest CAGR during the forecast period. Key companies offer complete logistics services to ensure the competitiveness of their activities.
Shippers reduce operating costs by focusing more on transportation and back-office functions, such as warehousing, order taking and picking process, kitting, and final assembly , product localization and labelling. Thus, value-added logistics services become a boon for shippers to mitigate inventory and transportation costs.
Third Party Logistics Market Report Highlights
- The market is expected to witness substantial growth over the forecast period owing to factors such as development of logistics infrastructure in Asia and Middle East regions, rapid growth of e-commerce industry and development of new technologies.
- The value-added logistics services segment is expected to register the highest CAGR during the forecast period. 3PL companies are emphasizing value-added logistics services to unveil their unique capabilities and deliver enhanced customer experience, facilitating the strong growth of the segment.
- The retail end-use sector segment is expected to register the fastest CAGR over the forecast period owing to the advantages, such as same-day delivery and fulfillment capabilities.
- The road segment accounted for the largest share in 2021 due to the growing model of public-private partnerships and increased focus on logistics infrastructure.
- Globalization coupled with sustained economic growth is expected to drive the growth of the airway logistics mode over the forecast period.
- Asia-Pacific is expected to register the fastest CAGR from 2022 to 2030 due to growth in transportation infrastructure and efficient transit of freight and goods between regional emerging countries.
Main topics covered:
Chapter 1 Market Segmentation and Scope
Chapter 2 Executive Summary
Chapter 3 3PL Industry Outlook
Chapter 4 3PL Services Market Outlook
Chapter 5 3PL Transportation Market Outlook
Chapter 6 End-Use Prospects of 3PL Market
Chapter 7 Regional Outlook of 3PL Market
Chapter 8 Competitive Landscape
- AmeriCold Logistics, LLC
- BDP International
- Burris Logistics
- CH Robinson Worldwide, Inc.
- CEVA logistics
- DB Schenker Logistics
- Deutsche Post AG (DHL Group)
- Expeditors International of Washington, Inc.
- Flexport inc.
- JB Hunt Transport, Inc.
- KERRY LOGISTICS NETWORK LIMITED
- Kühne + Nagel
- Landstar System, Inc.
- nippon express
- Ryder System, Inc.
- Schneider National, Inc.
- United Parcel Service of America, Inc.
- XPO Logistics, Inc.
- Yusen Logistics Co.Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/7z3s6k