Third Party Logistics (3PL) Market Value To Cross $1.24 Trillion By 2025: Grand View Research, Inc.

Posted on
by

“Grand View Research, Inc. – Market Research And Consulting”
According to report published by Grand View Research, The increasing outsourced-logistics functions availed by middle market companies to address their logistics challenges, are expected to positively impact the third party logistics (3PL) market growth.

According to a report,“Third Party Logistics (3PL) Market Size, Share & Trends Analysis Report By Transport (Roadways, Railways, Waterways, Airways), By Service, By End-use, By Region, And Segment Forecasts, 2014 – 2025” published by Grand View Research, Inc., The global Third Party Logistics (3PL) market is expected to reach USD 1.24 trillion by 2025. The domestic and global markets for outsourced-logistics services are continuously evolving toward advanced services and cloud-based technologies. The diligence related to logistics costs has led to an increased focus on the key concerns such as supply chain sustainability and security. Lowering of inventory costs is becoming a norm in the automotive and retail sectors, which is providing ample growth opportunities for 3PL providers.

Key Takeaways from the report:  

  • The value added logistics services segment is expected to be the fastest-growing segment, owing to the increasing need for inventory management and improved cycle times

  • The retail sector is expected to grow at a CAGR of over 7.5%; this growth can be attributed to the evolution of omni channel retailing and the need for data-driven analytics solution to manage fleet and warehousing

  • Airways are expected to witness the fastest growth over the forecast period as consumers are willing to pay a premium price to receive products at the earliest

  • The Middle East 3PL market is expected to reach a revenue share of over 8.5% by 2025, due to the increase in imports and exports and an upward trend in local manufacturing

  • The key industry players include DHL, FedEx Corporation, C.H. Robinson Worldwide, UPS Supply Chain Solutions, and Kuehne + Nagel International AG

  • Several organizations are transitioning toward 3PL vendors to deliver enhanced transportation management services for increased visibility and predictability

U.S. third party logistics market, by service, 2014-2025 (USD Billion)

Browse More Reports in Communication Services Industry:

Microcontroller Market: The growing need for flexibility and agility in the industrial ecosystem, owing to the decreasing product lifecycles, is expected to propel the industry growth. The consumer electronics market has also witnessed a significant growth due to the innovative technical developments.

NFC Market: The industry is poised for an unprecedented growth over the forecast period owing to the increasing penetration of smartphones in the developing economy.

Global third party logistics market share, by end-use, 2015 (%)

Third party logistics providers are strengthening their relationships with freight providers to optimize their supply chain capabilities. They are also investing in contemporary IT solutions, commercial offerings, cloud-based solutions, and proprietary innovations to create a leading-edge approach. Though the economic conditions are varying across countries, significant improvements are visible in the key regions of Asia Pacific and North America.

3PL providers allow businesses to focus on their core activities such as R&D, manufacturing, and strategic planning, thereby relieving them from the daily burden of operational logistics issues. The key 3PL vendors use advanced applications and IT software, which enhance their distribution coverage and provide quality services to the customers. Omnichannel distribution has gained momentum in the past few years, primarily due to the increased penetration of e-commerce.

Grand View Research has segmented the Third Party Logistics (3PL) market based on service, transport, end-use, and region:

3PL Service Outlook (Revenue, USD Billion, 2014 – 2025)

  • Dedicated Contract Carriage (DCC)/Freight forwarding

  • Domestic Transportation Management (DTM)

  • International Transportation Management (ITM)

  • Warehousing & distribution

  • Value added logistics services

3PL Transport Outlook (Revenue, USD Billion, 2014 – 2025)

  • Roadways

  • Railways

  • Waterways

  • Airways

3PL End-Use Outlook (Revenue, USD Billion, 2014 – 2025)

  • Manufacturing

  • Retail

  • Healthcare

  • Automotive

  • Others

3PL Regional Outlook (Revenue, USD Billion, 2014 – 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa

Explore the BI enabled intuitive market research database, Navigate with Grand View Compass, by Grand View Research, Inc.

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

For more information: www.grandviewresearch.com

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/third-party-logistics-market