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Dublin, Dec. 08, 2023 (GLOBE NEWSWIRE) — The “Third Party Logistics (3PL) – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Third Party Logistics (3PL) Market to Reach $1.9 Trillion by 2030
The global market for Third Party Logistics (3PL) estimated at US$974.6 Billion in the year 2022, is projected to reach a revised size of US$1.9 Trillion by 2030, growing at a CAGR of 8.4% over the analysis period 2022-2030. DTM, one of the segments analyzed in the report, is projected to record 8.7% CAGR and reach US$657.5 Billion by the end of the analysis period. Growth in the ITM segment is estimated at 8% CAGR for the next 8-year period.
This report provides a comprehensive overview of Third Party Logistics (3PL) and its role in supply chain management. It starts by introducing the concepts of logistics and transportation modes within the field of logistics. The report then delves into the various aspects of 3PL, including its definition, services overview, advantages, drawbacks, types, and categories of 3PL providers.
It also explores the different segments within the 3PL service industry and introduces Fourth Party Logistics (4PL) and Fifth Party Logistics (5PL). The report highlights the impact of the COVID-19 pandemic on the 3PL industry and discusses how technology-enabled 3PL providers adapted during the crisis.
Furthermore, it emphasizes the growing complexity in supply chain management and the increasing trend of outsourcing logistics operations, driving the impressive growth of the 3PL market. The rising significance of e-commerce, both in the B2B and B2C sectors, is also discussed.
The report includes market data, such as the global B2C and B2B market size for the years 2018-2024, highlighting the key benefits that drive the adoption of 3PL. It covers various advantages offered by 3PL providers, such as access to established resource networks, industry expertise, supply chain scalability, better cargo turnover, inventory management, cost benefits, and the ability to focus on core business operations.
Additionally, it provides insights into the dominant role of domestic transportation management (DTM) and the primary transportation mode, roadways, in the 3PL market. The report presents data on the global 3PL market by transport type for 2021, showcasing the revenue breakdown for airways, railways, roadways, and waterways.
Furthermore, it analyzes the major end-use sectors, with manufacturing commanding a significant share of the 3PL market. The report highlights the contribution of developing regions to the future growth of the 3PL market, with data on geographic regions ranked by value CAGR for 2020-2027.
The U.S. Market is Estimated at $237.6 Billion, While China is Forecast to Grow at 10.3% CAGR
The Third Party Logistics (3PL) market in the U.S. is estimated at US$237.6 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$488.4 Billion by the year 2030 trailing a CAGR of 10.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 6.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 1344 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $974.6 Billion |
| Forecasted Market Value (USD) by 2030 | $1900 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Manufacturing Sector: Driving Force behind 3PL Market Growth
- 3PL Assumes Critical Importance in Manufacturing Domain
- Expanding Retail Industry Generates Significant Opportunities
- Select Leading Retail Enterprises by Country: A Snapshot
- Global Retail Sector by Product Category (2021E): Percentage Breakdown of Revenues for Clothing & Accessories, Diversified, FMCG, and Leisure Goods
- eCommerce Emerge as New Growth Driver
- Global B2C E-Commerce Sales in US$ Trillion for the Years 2017, 2019, 2021 and 2023
- Leading Retail E-Commerce Countries Worldwide: Ranked by Sales in US$ Billion for 2019
- Global E-Commerce Market as a % of Retail Sales for the Period 2017-2023
- E-commerce Challenges for 3PLs
- Omni Channel Retailing Underpins Volume Growth for 3PL Services
- Global Retail Omni-Channel Commerce Platform Market in US$ Million by Region/Country: 2019 & 2025
- Automotive Logistics: A Lucrative End-Use Vertical
- Global Automobile Production in Million Units: 2008-2022
- Transportation Services Drive Momentum
- Procurement Logistics Resolve Inbound Transportation Needs
- Distribution Logistics Simplify Outbound Movement of Products
- Production Logistics for Diverse Logistics Needs of Modern Production Lines
- Value Added Services Widen the Scope & Span of 3PL Market
- Reverse Logistics: A High-Utility Value-Added Service
- Multi Modal Transportation Finds Favor
- Key Drivers of the 3PL Market
- Globalization and Rising Trade
- Expansion of eCommerce Industry
- Increasing Focus on Core Competencies
- Focus on Embracing Advanced Technology
- Market Restraints
- Lack of Manufacturer Control on Logistics Service
- Manufacturer Reputation at Stake
- 3PL Providers Invest in IT Capabilities to Differentiate from Competition
- Key Opportunities for Warehouse Operators to Leverage Technology
- Warehouse Expansion vis-a-vis Labor Shortage
- Mounting Pressure to Push Bottom Lines
- eCommerce & Omni Channel Opportunity
- Improving Customer Experience
- Intense Competition from Amazon
- Technology Tools Seek Wider Role in 3PL Domain
- TMS Makes Its Way into 3PL Domain
- WMS Gaining Traction in Warehouse Management
- Cloud Technology Seeks to Expand Share in 3PL Technology Mix
- BI Systems Take Center Stage
- Big Data Emerges as New Focus Area
- Global Adoption Rates (in %) of Big Data Technologies by Industry (2021E)
FOCUS ON SELECT PLAYERS(Total 477 Featured)
- 24/7 Express Logistics, Inc.
- 3GTMS, Inc.
- Allcargo Logistics Ltd.
- Allen Lund Company
- American Global Logistics LLC
- Americold
- APL Logistics Ltd.
- Arshiya Ltd.
- Anderson Trucking Service, Inc.
- Barloworld Logistics
- Atlanta Bonded Warehouse Corporation
- Atlas Logistics
- Automated Logistics Systems, Inc.
- Ascent Global Logistics
- Agility Public Warehousing Company KSCP
For more information about this report visit https://www.researchandmarkets.com/r/j8yx5k
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