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Third-party Logistics (3PL) Market Worth $1,789.94 billion by 2027, Growing at a CAGR of 7.1% from 2020 to 2027

08-17-2021 07:56 AM CET | Logistics & Transport

Press release from: Allied Market Research

Third-party Logistics (3PL) Market

Third-party Logistics (3PL) Market

As per the report published by Allied Market Research, the global third-party logistics (3PL) market was pegged at $1,027.71 billion in 2019, and is anticipated to reach $1,789.94 billion by 2027, growing at a CAGR of 7.1% from 2020 to 2027. The report offers a detailed analysis of the drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.

Increase in trading activities due to globalization, rise in focus of manufacturers and retailers on core competencies, and development of the e-commerce industry owing to rise in reverse logistics have boosted the growth of the global third-party logistics (3PL) market. However, risk to goodwill of manufacturer and lack of control of manufacturers on logistics on logistics service impede the market growth. On the contrary, surge in use of IT solutions & software and cost cutting & lead time reduction due to adoption of multi-modal system are expected to offer lucrative opportunities to the market in near future.

Download Report Sample (320 Pages, 106 Tables, 81 Charts, Insights):

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The global third-party logistics (3PL) market is segmented on the basis of mode of transportation, service type, industry, and region. Based on mode of transportation, the market is categorized into railways, roadways, waterways, and airways. The airways segment is projected to portray the fastest CAGR of 13.1% during the forecast period. However, the roadways segment held the largest share in 2019, contributing to more than two-fifths of the global third-party logistics (3PL) market.

Based on service type, the market is divided into dedicated contract carriage (DCC), domestic transportation management, international transportation management, warehousing & distribution, and others. The domestic transportation management segment held the largest share in 2019, accounting for nearly two-fifths of the global third-party logistics (3PL) market. However, the dedicated contact carriage segment is anticipated to portray the fastest CAGR of 8.9% during the forecast period.

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Region-wise, the market is analyzed across Asia-Pacific, North-America, Europe, and LAMEA. The global third-party logistics (3PL) market across Asia Pacific held the largest share in 2019, contributing to nearly two-fifths of the market. However, the market across LAMEA is estimated to register the fastest CAGR of 10.4% during the forecast period.

The key market players profiled in the 3PL market report include DB Schenker, DHL International GMBH, FedEx Corporation, KUEHNE+NAGEL Inc., Maersk, Panalpina World Transport Ltd., Union Pacific Railroad, United Parcel Service, C.H. Robinson Worldwide, Inc., Nippon Express, and others.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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