Press release
Third Party Logistics Market Insights to Expand at a CAGR of 13.5% From 2025 - Lead by DB Schenker, C.H. Robinson, DSV, XPO Logistics, Sinotrans, Deutsche Post DHL Group, Kuehne + Nagel International AG, Nippon Express Co., GEODIS, and UPS Supply Chain So
Third Party Logistics Market is expected to grow from US$ 805.4 billion in 2017 to US$ 1,240.0 billion by 2025 growing at a CAGR of 13.5% from 2018 to 2025. Roadways is the leading mode of transport segment, whereas airways is growing rapidly across the globe.Third party logistics is moving towards increased information base and large-scale operations owing to maximize operational efficiency and improve profitability. There is an improvement in the strategic nature of relationships between shippers and third-party logistics providers. 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, 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. Moreover, the implementation of speech recognition software in warehouse management system communications will support order turn-round 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.
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Top Dominating Key Players:
1. Deutsche Post DHL Group
2. Kuehne + Nagel International AG
3. Nippon Express Co., Ltd.
4. DB Schenker
5. H. Robinson
6. DSV
7. XPO Logistics
8. Sinotrans
9. GEODIS
10. UPS Supply Chain Solutions
Logistics is the core area of the third party logistics (3PL) firms and their proficiency in this areas is always superior to that of the core companies. 3PL firms have the expertise to keep IT systems updated and deliver the logistic services more time & cost effectively along with this they own the ability to meet the technical requirements. Outsourcing logistic function from a third party is helpful for core companies as these firms manage and maintain warehouse, transportation, and other operations with more efficiently with expertise. Also, 3PL eliminates the need to invest in technology, warehouse space, transportation, a trained staff in order to execute the logistics process.
Increase in demand for minimizing overall operational cost and manufacturer's focus on timely delivery of products are projected to escalate the market growth at a CAGR of 5.6%.
Worldwide Third Party Logistics Market Analysis to 2025 is a specialized and in-depth study of the Third Party Logistics Industry with a focus on the global market trend. The report aims to provide an overview of global Third Party Logistics Market with detailed market segmentation by product/application and geography. The global Third Party Logistics Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the Third Party Logistics players and offers key trends and opportunities in the market.
Key Benefits :
• To provide detailed information regarding the major factors (drivers, restraints, opportunities, challenges, and trends) influencing the growth of the global Third Party Logistics Market.
• To forecast the size of the market segments with respect to four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa).
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Third Party Logistics Market Segmentation:
Global Third Party Logistics Market– By Mode of Transport
• Roadways
• Railways
• Waterways
• Airways
• Others
Global Third Party Logistics Market– By Services
• International Transportation
• Warehousing
• Domestic Transportation
• Inventory Management
• Others
Global Third Party Logistics Market– By End-User
• Automotive
• Healthcare
• Retail
• Consumer Goods
• Others
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What our report offers :
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.
Contact Us:
The Insight partners,
Phone: +1-646-491-9876
Email: sales@theinsightpartners.com
Website: www.theinsightpartners.com
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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