Global Third Party Logistics Market By Transport: Railways, Roadways, Waterways, Airways

The increasing outsourcing of major transportation and logistics services, as well as expanding e-commerce penetration, are driving the market forward, while the loss of control over shipping tasks is a major barrier. During the forecast period, the third party logistics market is expected to be driven by an increase in demand for shipping cost reduction and a focus on timely delivery management, as well as a reduction in company assets and the ability to focus on core business and an advantage in managing seasonal variations. However, manufacturers' lack of control over logistic services and delivery processes may have a negative influence on the third party logistics sector.

Shippers are continuing to take advantage of what third party logistics have to offer, which allows them to optimize the supply chain, reduce costs, create value, and match expectations as a key to both sides' success. Outsourcing services are becoming more popular due to third party logistics' high-end technological integration, industry experience, and cost savings. This outsourcing of services demonstrates that the market for third-party logistics is growing and increasing.

Third party logistics is being transformed by mobile technology. Many 3PLs have already started adopting mobile devices and apps to boost their agility. Devices with radio frequency identification (RFID) chips are capable of not only reporting their location but also storing data about themselves, allowing them to be monitored and identified quickly. Consumers using mobile apps installed on their smartphones can order, process, and track freight shipments at any time. A diverse range of features offered by this is likely to encourage its adoption, which, hence, will drive the growth of the market during the forecast period.

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Read market research report, " Global Third Party Logistics Market is segmented Mode of Transport (Railways, Roadways, Waterways, and Airways), Service Type (Dedicated Contract Carriage (DCC), Domestic Transportation Management, International Transportation Management, Warehousing &Distribution, and Others), Industry (Technological, Automotive, Retailing, Manufacturing, Elements, Food & Groceries, Healthcare, and Others) & By Region- Forecast and Analysis 2021-2027" by SkyQuest

The global Third Party Logistics market is segmented on the basis of transport, service type, industry, and region. Based on transport, the global third party logistics market is segmented into railways, roadways, waterways, and airways. Among these, the roadways segment of the market is projected to hold the most substantial share. Based on service type, the global third party logistics market is segmented into dedicated contract carriage (DCC), domestic transportation management, international transportation management, warehousing & distribution, and others. Among these, the domestic transportation management segment of the market is projected to hold the most substantial share. Based on the industry, the global third party logistics market is segmented into technological, automotive, retailing, manufacturing, elements, food & groceries, healthcare, and others. Among these, the manufacturing segment of the market is projected to hold the most substantial share.

The global Third Party Logistics market is segmented based on the geography of North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among the regions, the Asia-Pacific region is projected to hold the most substantial share in the market. Regional growth of the market is attributed to the increased trade activities, trans-regional trade corridors, and gateways. Several highway development projects have been done by the National Highways Authority of India (NHAI) and the National Highways Development Project (NHDP). The Ministry of Road Transport & Highways (MoRTH) is establishing multimodal logistics parks as part of the Government of India's Logistics Efficiency Enhancement Program (LEEP). The Vietnamese government announced the Vietnam Sea Transport Development Plan, which aims to increase maritime freight transportation by 2030. The government intended to invest in the development of deep-water ports, transit ports, and international gateway ports under this strategy; which is projected to significantly contribute to the regional growth of the market during the forecast period.

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Further, DHL Group (Germany), Kuehne + Nagel (Switzerland), C.H. Robinson (US), Ceva Logistics (France), FedEx Corporation (US), Nippon Express (Japan), DB Schenker (Germany), UPS (US), JB Hunt (US), and Panalpina (Switzerland) among others some of the key players operating in the market. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market.

The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.

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SkyQuest has segmented the Global Third Party Logistics Market based on Mode of Transportation, Service Type, Industry and Region:
• Third Party Logistics Mode of Transport Outlook (Revenue, USD Million, 2021 - 2027)
o Railways
o Roadways
o Waterways
o Airways
• Third Party Logistics Service Type Outlook (Revenue, USD Million, 2021 - 2027)
o Dedicated Contract Carriage (DCC)
o Domestic Transportation Management
o International Transportation Management
o Warehousing & Distribution
o Others
• Third Party Logistics Industry Outlook (Revenue, USD Million, 2021 - 2027)
o Technological
o Automotive
o Retailing
o Manufacturing
o Elements
o Food & Groceries
o Healthcare
o Others
• Third Party Logistics Regional Outlook (Revenue, USD Million, 2021 - 2027)
o North America
 U.S.
 Canada
o Europe
 Germany
 France
 UK
 Italy
 Spain
 Rest of Europe
o Asia Pacific
 China
 India
 Japan
 Rest of Asia Pacific
o Central & South America
 Brazil
 Rest of CSA
o Middle East & Africa
 GCC Countries
 South Africa
 Rest of MEA

List of Key Players of Third Party Logistics Market
• DHL Group (Germany)
• Kuehne + Nagel (Switzerland)
• C.H. Robinson (US)
• Ceva Logistics (France)
• FedEx Corporation (US)
• Nippon Express (Japan)
• DB Schenker (Germany)
• UPS (US)
• JB Hunt (US)
• Panalpina (Switzerland)

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This release was published on openPR.