Third-Party Logistics (3PL) Market Size 2024-2033 – Growth Analysis, Outlook, Overview

The Third-Party Logistics (3PL) by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Third-Party Logistics (3PL), The third-party logistics (3pl) market size has grown rapidly in recent years. It will grow from $1112.7 billion in 2023 to $1229.2 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%.  The  growth in the historic period can be attributed to increase in trade and exports, growth in world population, government initiatives and increasing demand from end-use industries.

The third-party logistics (3pl) market size is expected to see strong growth in the next few years. It will grow to $1799.11 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%.  The growth in the forecast period can be attributed to rapid growth in e-commerce, increasing retail penetration and growing demand for efficient inventory management. Major trends in the forecast period include use of artificial intelligence, advanced logistics management platforms, use of electric vehicles, advanced analytics and data-driven solutions, adoption of cloud-based logistics platforms, last-mile delivery innovations and partnerships and collaborations.

The development of the e-commerce industry is expected to propel the growth of the third-party logistics market going forward. Electronic commerce (E-commerce) refers to companies and individuals that buy and sell goods and services over the Internet. Third-party logistics providers (3PL) are utilized by many e-commerce businesses to oversee and manage their supply chain management. For instance, in 2021, according to Oberlo, a US-based dropshipping app for Shopify, total US e-commerce sales reached $960.1 billion, an 18.3 % year-over-year increase from $811.6 billion in 2020. Therefore, the development of the e-commerce industry is driving the third-party logistics market.

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The third-party logistics (3pl) market covered in this report is segmented –

1) By Service Type: Dedicated Contract Carriage, Domestic Transportation Management, International Transportation Management, Warehousing and Distribution, Other Service Types

2) By Mode Of Transport: Railways, Roadways, Waterways, Airways

3) By End-Use Industry: Manufacturing, Retail, Healthcare, Automotive, Other End-Use Industries

 Top Major Players:
Kuehne+Nagel International AG
DSV A/S
The Deutsche Bahn AG
Deutsche Post DHL Group

Asia-Pacific was the largest region in the third-party logistics market in 2023.

Artificial intelligence is increasingly being used by wholesalers and third-party logistics (3PL) providers. AI in logistics can help with route optimization and fleet management. For example, in January 2022, Verte, a US-based e-commerce service company launched a new artificial intelligence (AI)-enabled omnichannel supply chain platform for wholesalers and third-party logistics (3PL) providers. Verte’s technological solutions provide real-time supply chain insight with a data-driven platform that centralizes information to provide supply chain transparency and it is ideally positioned to provide aggregated data solutions that address critical industry concerns related to inventory and customer fulfillment, allowing retailers, shippers, 3PLs, and carriers to operate more efficiently. It is the ultimate sophisticated connector to demand channels, available and in-transit items, carriers, service providers and any type of physical place. Using Verte’s unified data-first approach, the platform’s AI prescriptive solution can be applied to the manufacturing, planning and positioning of inventory across a complex retail fulfillment network. Verte’s AI inventory management solutions assess consumer fulfillment choices and buying behaviors, as well as boost e-commerce and store inventory levels.

The third-party logistics (3pl) market report table of contents includes:

1. Executive Summary
2. Third-Party Logistics (3PL) Market Characteristics
3. Third-Party Logistics (3PL) Market Trends And Strategies
4. Third-Party Logistics (3PL) Market – Macro Economic Scenario
5. Global Third-Party Logistics (3PL) Market Size and Growth
….
32. Global Third-Party Logistics (3PL) Market Competitive Benchmarking
33. Global Third-Party Logistics (3PL) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Third-Party Logistics (3PL) Market
35.Third-Party Logistics (3PL) Market Future Outlook and Potential Analysis
36. Appendix

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