Fourth Party Logistics Market to 2027 - Top Leading Players Allyn International Services, XPO Logistics, GEFCO Group, Deutsche Post, DB Schenker, CEVA Logistics
The fourth party logistics market is estimated to reach US$ 84.17 Bn by 2027 from US$ 54.06 Bn in 2018. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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The key companies operating in the field of fourth party logistics that are profiled in the report include Allyn International Services, Inc., United Parcel Service of America, Inc., GEFCO Group, XPO Logistics, DHL Group, DB Schenker, DAMCO, LOGISTICS PLUS Inc., GEODIS, and CEVA Logistics among others. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.
It has been observed that regional demographics have also played a crucial role in the growth of the 4PL services market. As an example, the 4PL adoptions is observed by the retail sector, which in-turn has propelled due to the advent of e-commerce. As APAC region boasts of more than one-third of the global population, the market attractiveness for e-commerce industry is very high in the region. Further, developing economies and rising disposable incomes with individuals have accentuated further the growth in e-commerce activities. Rising demand diversities on account of diverse demographics observed in the region contributes to the supply chain complexities, thus requiring the needs for 4PL services to be deployed by the shipping companies.
Asia is home for nearly 3.5 Bn people, and presently, GDP per capita is 6,799 USD which is expected to grow. There are pleasant e-commerce markets within Asian countries such as China, Japan, and India. Also, count of users using online websites for shopping is projected to increase by 2021. This represents 53% of the total population. Such growing internet of users towards e-commerce sector for fashion, electronics, and other products would help the industry to contribute high portion in GDP. Moreover, many of Asia’s countries holds a leading position in the world of logistics such as China, Taiwan, Japan, Hong Kong, South Korea, and Singapore. Growing e-commerce industry provides positive opportunities to the 4PL providers across Asia.
Retail and consumer electronics sector moving towards provisioning dynamic logistics
The high-tech consumer electronics and the medical equipment markets today are highly driven by diverse consumer demands coupled with customization features. Strategies such as build-to-order and postponement are often deployed for selling products from the high-tech electronic verticals by many retailers, websites, resellers etc. In many scenarios faced by consumer goods and retail sectors, a customer orders large volumes of products that might be sourced at different locations. These diverse products need to be assembled first, and then need to be shipped to the consumer at the earliest possible timelines. Fulfillment of such demands requires the deployment of a highly sophisticated and Omni-channel supply chain approach by the logistics service provider. This factor is anticipated to provide huge opportunities to the players operating in the fourth party logistics market.
Adoptions of Solution Integrator Model
The solution integrator model is known as the core 4PL model. In the solution integrator model, the 4PL providers is engaged in operating and managing a comprehensive end-to-end supply chain solution for a single client. This business model for 4PL leverages the resources, technology, and capabilities of 4PL and complementary service providers for provisioning a comprehensive supply chain solution to deliver value to their customers. Largely, all B2B businesses focus on the solution integrator model for optimizing their supply chains and ensuring the best customer service. Food & beverage, and retail sector customers prefer this type of business relationship with their 4PL service providers. The solution is supposed to grow at the fastest pace during the forecast period in the fourth party logistics market.
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Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the fourth party logistics market, thereby allowing players to develop effective long term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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