Third-Party Logistics (3PL) Market Revenue to Cross USD 1800 Billion by 2026, Growing at Over 9%: Global Market Insights, Inc.
The growing demand for low-cost services and rapid expansion of the e-commerce sector will drive market growth.
SELBYVILLE, Del., Jan. 29, 2020 /PRNewswire/ -- According to the latest report "Third-Party Logistics Market by Solution (Dedicated Contract Carriage (DCC), Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing & Distribution, Logistics Software), Mode (Air, Sea, Rail & Road), Regional Outlook, Competitive Market Share & Forecast 2026", by Global Market Insights, Inc., the market valuation of third-party logistics (3PL) will cross $1800 billion by 2026. The growing demand for low-cost services and rapid expansion of the e-commerce sector will drive market growth.
3PL service providers are transforming the supply chain management system in emerging markets. These services help retailers to add value and enhance engagement with their customers. It helps maximize operational efficiency and improve profitability of their customers. Globally, 3PL service providers are investing in new technology, delivering data-driven solutions, broadening their service offerings, and expanding geographical reach to increase their market share.
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The rise in globalization and increasing trade activities globally are driving the 3PL market growth. The adoption of various software solutions including SCMs and cloud ERP for logistics applications are being witnessed. Features provided by these software solutions such as warehouse management, real-time data, online documentation for international freight, and inventory tracking are gaining the attraction from manufacturers across the globe.
Europe third-party logistics (3PL) market is experiencing significant growth, owing to the steady development of the manufacturing sector, rising internet penetration, and improved economic conditions across the region. For instance, according to the 'The Manufacturing Organization UK', the UK became the ninth largest manufacturing nation in the world with an annual output revenue of USD 192 billion in 2019. European free trade agreements with various countries worldwide are further fueling the market growth.
Key players are focusing on providing improving processes and delivering enhanced value-added services to gain customer loyalty. Technologically advanced and cost-cutting services are being extensively adopted in the 3PL market. These industry participants in the market are leaning toward adopting digital technology to attract more customers. For instance, in December 2019 J.B. Hunt Transport Services, Inc., announced the integration of JB hunt 360 with JDA Software Inc's supply chain management platform to provide value-added services to its customers including greater pricing visibility.
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Some major findings of the 3PL market report include:
Ø Adoption of third-party logistics services by the e-commerce industry to ensure timely deliveries and handle issues of warehousing, tracking, shipping, packaging, and inventory across the globe is driving the industry growth.
Ø Several logistics companies are offering solutions and services mainly for the e-commerce industry. For instance, Orio Logistics is providing 3PL services for the e-commerce industry, ensuring fast, flexible distribution, and efficient returns management.
Ø Major 3PL industry players include FedEx, UPS Supply Chain Solutions, DHL, DB Schenker, Nippon Express, C.H. Robinson, XPO Logistics, UPS, JB Hunt, Expeditors International, Kuehne + Nagel, Expeditors International, Dachser, CEVA Logistics, Sinotrans, Panalpina, SNCF Geodis, Gefco, Kintetsu World Express, and Deutsche Post DHL (Exel).
Ø Key players are investing in merger & acquisition activities and are partnering with local players to expand in unserved & underserved regions.
Ø Growing trends of cloud computing, blockchain, and IoT are expected to fuel the market growth.
Ø Increasing demand due to reverse logistics along with the availability of enhanced digital technology solutions will propel the third-party logistics (3PL) market size.
Table of Contents (ToC) of the report:
Chapter 3. 3PL Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2016 – 2026
3.3. Industry ecosystem analysis
3.3.1. Inbound logistics
3.3.2. Outbound logistics
3.3.3. Client to supplier returns process
3.3.4. Customer to client returns process
3.3.5. Value Added Warehousing & Distribution (VAWD)
3.3.5.1. Order fulfillment
3.3.5.2. Reverse logistics
3.3.6. Supply Chain Management (SCM) service/logistics BPO
3.3.7. Vendor matrix
3.4. Technology & innovation landscape
3.4.1. AGVs in logistics and warehousing
3.4.2. Impact of Blockchain & IoT
3.4.3. Implementation of cloud services
3.5. Regulatory landscape
3.6. Industry participant analysis
3.6.1. Major pain points
3.7. Customer analysis
3.7.1. E-commerce & retail
3.7.2. Manufacturing
3.7.3. Food & beverage
3.7.4. Oil & gas
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.2. Industry pitfalls & challenges
3.9. Growth potential analysis
3.10. Porter's analysis
3.10.1. Supplier power
3.10.2. Buyer power
3.10.3. Threat of new entrants
3.10.4. Threat of substitutes
3.10.5. Internal rivalry
3.11. Competitive landscape, 2019
3.11.1. Company market share analysis
3.11.1.1. North America
3.11.1.2. Europe
3.11.1.3. Asia Pacific
3.11.1.4. South America
3.11.1.5. MEA
3.11.2. Overview of key players
3.11.3. Strategy dashboard
3.12. PESTEL analysis
Browse Complete Table of Contents (ToC) @
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global 3PL growth predicted at 9% till 2026: GMI
Europe third-party logistics (3PL) market is experiencing significant growth, owing to steady development of the manufacturing sector, rising internet penetration, and improved economic conditions across the region.
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