Third Party Logistics Market Outlook to 2025 - UPS Supply Chain Solutions, Deutsche Post DHL Group, Kuehne + Nagel International, Nippon Express, DB Schenker, C.H. Robinson, DSV, XPO Logistics, Sinotrans, GEODIS

Third party logistics market is expected to grow US$ 1,240.0 million by 2025 from US$ 805.4 million in 2017. The demand for third party logistics is largely influenced by number of factors mainly due to the increase in internationalization and growth in E-commerce in numerous business segment. On the basis of mode of transport, roadways mode of transport accounted for the largest share of the third party logistics market in 2017 in terms of revenue.

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The competitive dynamics in the third party logistics market is expected to change during the coming years with the entry of new players. Majority of the companies in this market are located in the North America region as well as in the Europe. However, there is significant presence of market players in the developing countries particularly in Asia-Pacific region. Currently, high demand for 3PL is noticed in developed as well developing regions such as Asia-Pacific and Europe owing to the robust economic growth along with growing retail enactment due to the rising disposable income and more inclination of manufacturing companies towards a non-asset based business model. Moreover, U.S., France, UK, China, Japan, and Brazil hold substantial global market share in 3PL market.

On the basis of end-user, retail is the leading industry owing to the industry’s more inclination towards achieving online and omni-channel strategies. Currently, free shipping is significantly important for customers, thus, retailers are opting for 3PL providers in order to manage their supply chain processes in order to meet customer demands. 3PL’s IT software systems connect well with retail outlets and manage accurate inventory control visibility. Thus, aforementioned factors are increasing the need for 3PL in retail industry.

The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. It also provides the overview and forecast for the global third party logistics market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the logistics industry.

Asia-Pacific is the leading revenue generating region in 2017 with China and Japan being the leading countries in this region. This growth in demand for 3PL in this region is attributed to robust economic growth and dynamic business environment along with growing retail enactment owing to the rising disposable income. Moreover, foreign manufacturers prefer Asian countries as their production locations due to the availability of cheaper labor.

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In Asia-Pacific, rapid economic development, fast growth in e-commerce sector, and rise in foreign direct investment are boosting the market for 3PL. Asia-Pacific comprise of large number of 3PL providers along with the intense competition owing to the rising demand for 3PL services. This attracted several non-asset-based 3PL entrants and encouraged existing players to expand their geographic reach with broad service portfolio.
Asia-Pacific is showing a greatest traction for e-commerce owing to cross-border purchasing and growth in consumer spending. In 2018, the expansion of logistics warehouse space in China is recorded owing to the continued demand. In last few years, China’s retail sales have increased at a faster rate due to the rapid growth in middle class population. In 2015, China was accounted for 43% of the global online sales volume which was around US$ 666 Bn.

Logistic industry can be considered as the wheel of globalization and competitive product availability for the increase in number of global consumers. 3PL is a significant part of today’s supply chain for small and large businesses. These firms provide services such as international & domestic transportation, inventory management, warehousing, distribution, order fulfilment, and freight consolidation. By outsourcing 3PL services, manufacturing companies are able to focus on product development, sales, and other core operations. 3PL offers immediate knowledge & expertise in the field, track on international logistics, and create cost savings.

The major drivers in third party logistics market are increase in demand for shipping cost reduction & more focus on timely delivery management, reduction on company’s assets & permitting focus on core business, and advantage in managing seasonal variations. Third party logistics is moving towards online information base and large-scale operations owing to maximize operational efficiency and improved profitability. Moreover, 3PL firms are also implementing several software based solutions in their operations in order to reduce the inefficiency and costs with saving time for operations.

Globally, 3PL firms are increasing their employee strength, organization skills, broadening their service offerings, investing in new technology, and expanding their geographical reach in order to deliver data driven solutions. Moreover, the implementation of speech recognition software in warehouse management system communications will support order turn-around and inventory records with reducing employee-training requirements. Along with this, acceptance of cloud-based technology in 3PL companies will respond demands by recognizing the need for customer access which is expected to better meet the seasonal trends efficiently.

Currently, numerous manufacturing companies are partnering with 3PL firms in order to reduce assets and focus more core business operations. Globally, 3PL firms are expanding their warehouse sizes in order to meet the growth in demand for 3PL services. 3PL companies specialize in several logistics operations which offers network analysis, mode network optimization, warehousing, management of vendor compliance, and other logistic operations. Thus, opting for 3PL enables the company to devote their time and resources on areas of core competency & actual business instead of using it on managing logistic operations.

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Key Benefits of Buying this Research Study:
1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Third Party Logistics market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Third Party Logistics market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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