Third-party Logistics Market Detailed Analysis 2020: By Coherent Market Insights

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Third party logistics (TPL or 3PL), is a service provider outsourced by a company in a supply chain management or logistic. Increasing globalization for trade offers manufacturing companies with a worldwide networking platform. Companies majorly focus on keeping up with their productivity, and thus rely on third party logistics to suffice their transportation and packaging. This in turn, has driven growth of the market for third part logistics. Growing e-commerce industry is one of the major drivers for growth of the global third party logistics market. For instance, in 2016, the global B2C ecommerce industry generated revenue of US$ 2.1 trillion, from US$ 1.8 trillion in 2015, and is expected to reach up to US$ 2.4 trillion by 2017. Several e-commerce companies that have adopted the online platform to sell their products do not have their own logistics services. This also contributes to the increased demand for TPL. Increasing number of startups, generally are unable to afford their own logistics services, thus increasing the demand for third party logistics. Moreover, the convenience of shopping online, is increasing adoption of online shopping by several customers worldwide, which in turn, is expected to fuel growth of the third party logistic services in e-commerce industry.

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Third Party Logistics Market Taxonomy

On the basis of service type, the global third party logistics market is segmented into:
o Dedicated Contract Carriage
o Domestic transportation management
o International transportation management
o Warehouse & distribution management
o IT service and logistics software

On the basis of mode of transportation, the global third party logistics market is segmented into:
o Waterways
o Airways
o Railways
o Roadways

On the basis of end users, the global third party logistics market is segmented into:
o Manufacturing
o Retail
o Healthcare
o Automotive
o Others

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Third Party Logistics Market Outlook - Asia Pacific holds the largest market share of the global third party logistics market

On the basis of geography, global third party logistics market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The market in Asia Pacific held a dominant position in the global third party logistics market in 2016 and is projected to retain its dominance throughout the forecast period. Increasing disposable income and rising investment by e-commerce leaders and increasing internet penetration are leading to the rapid growth of the e-commerce industry in emerging economies such as India and China. This, in turn, is expected to boost growth of the market for third party logistics in the Asia Pacific. North America also holds a largest share of the third party logistics market, owing to increasing demand for TPL in the automotive and ecommerce sectors. The U.S. and Canada are the major growth engines for the market in the region. Rising demand for low cost services and rapid delivery services is also responsible for fueling the third party logistics market, in the U.S.�

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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