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E-Commerce Boom Fuels Growth In The Third-Party Logistics Market: Critical Driver Shaping the Third-Party Logistics (3PL) Market in 2025
Third-Party Logistics (3PL) Market
What Will the Third-Party Logistics (3PL) Industry Market Size Be by 2025?
The size of the third-party logistics (3PL) market has significantly expanded over the past few years. The market which is projected to be worth $1208.11 billion in 2024 is predicted to rise to $1328.87 billion in 2025, a compound annual growth rate (CAGR) of 10.0%. The historic growth of this market can be credited to factors such as increased global trade and exports, world population expansion, governmental efforts, and rising demand from final consumer industries.
What's the Long-Term Growth Forecast for the Third-Party Logistics (3PL) Market Size Through 2029?
Over the coming years, substantial growth is anticipated for the third-party logistics (3PL) market, with its size expected to balloon to $1975.94 billion in 2029, marking a compound annual growth rate (CAGR) of 10.4%. This notable increase in the forecast period can be linked to the fast-paced expansion of e-commerce, augmented retail penetration and the escalating demand for competent inventory management. Key trends expected to shape this period include the application of artificial intelligence, enhanced logistics management systems, the deployment of electric vehicles and data-driven solution, adoption of cloud-based logistics platforms, innovation in last-mile delivery, and strategic partnerships and collaborations.
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What Are the Key Growth Drivers Fueling the Third-Party Logistics (3PL) Market Expansion?
The surge in the e-commerce sector is predicted to fuel the expansion of the third-party logistics market in the future. The term e-commerce is used to describe entities and individuals engaged in the online purchase and sale of products and services. Many online businesses rely on third-party logistics providers (3PL) to handle their supply chain management. As per the statistics released by the United States Census Bureau, a government agency based in the US, in August 2024, e-commerce sales hit $282.3 billion during this time, witnessing a 5.3% rise in comparison to the first quarter of 2023. Furthermore, in the second quarter of 2024, e-commerce sales constituted 16% of the overall retail sales. Hence, the thriving e-commerce sector is a significant driver for the third-party logistics market.
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What Are the Key Trends Driving Third-Party Logistics (3PL) Market Growth?
The use of artificial intelligence (AI) in the wholesale and third-party logistics (3PL) industry continues to grow. AI technologies can enhance route planning and fleet administration in logistics. For instance, in January 2022, Verte, an American e-commerce service company, introduced an AI-powered omnichannel supply chain platform designed for wholesalers and 3PL providers. Verte's technology offers real-time visibility into the supply chain via a platform that centralizes data, providing comprehensive supply chain transparency. It is well-positioned to offer consolidated data solutions to address pressing industry issues related to inventory and customer fulfillment, thereby enabling retailers, shippers, 3PLs, and carriers to operate more efficiently. It serves as an advanced connector to demand channels, items available and in transit, carriers, service providers, and various physical locations. By embracing Verte's unified data-centric strategy, the platform's AI-driven solution can be utilized for the fabrication, planning, and location of stock across a multifaceted retail fulfillment network. Verte's AI inventory management solutions analyze customer fulfilment options and purchasing habits, and help enhance e-commerce and store inventory levels.
How Is the Third-Party Logistics (3PL) Market Segmented?
The third-party logistics (3PL) market covered in this report is segmented -
1) By Service Type: Dedicated Contract Carriage, Domestic Transportation Management, International Transportation Management, Warehousing and Distribution, Other Service Types
2) By Mode Of Transport: Railways, Roadways, Waterways, Airways
3) By End-Use Industry: Manufacturing, Retail, Healthcare, Automotive, Other End-Use Industries
Subsegments:
1) By Dedicated Contract Carriage (DCC): Fleet Management, Route Optimization, Driver Management
2) By Domestic Transportation Management (DTM): Truckload (TL) Services, Less-than-Truckload (LTL) Services, Intermodal Transportation
3) By International Transportation Management (ITM): Ocean Freight Management, Air Freight Management, Customs Brokerage
4) By Warehousing And Distribution: Inventory Management, Order Fulfillment, Cross-Docking Services
5) By Other Service Types: Reverse Logistics, Freight Forwarding, Supply Chain Consulting
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Which Companies Are Leading the Charge in Third-Party Logistics (3PL) Market Innovation?
Major companies operating in the third-party logistics (3PL) market include Kuehne+Nagel International AG, DSV A/S, The Deutsche Bahn AG, Deutsche Post DHL Group, C.H Robinson Worldwide Inc., J.B. Hunt Transport Inc, SinoTrans Logistics Limited, FedEx Corporation, Nippon Express Co. Ltd, CEVA Logistics, Aegis Logistics Ltd, Allcargo Logistics Ltd, AWL India Pvt. Ltd, Blue Dart Express Ltd, Delhivery Pvt. Ltd, Gati Ltd, Mahindra Logistics Ltd, Safexpress Pvt Ltd, TVS Supply Chain Solutions, Fulfillment Bridge Inc, DocShipper Group, The Rhenus Group, DB Schenker Logistics, Gebruder Weiss, Geodis, Bolloré Logistics, Huboo, Sas Grup, Max Loads, Agexim Spedition, Sc Oprean Srl, Vectra Logistic, Rzd Logistics Eurosib, Omnipack, Union Pacific Corporation, Weber Logistics, XPO Logistics Inc, TA Services Yusen Logistics Co. Ltd, BDP International Inc, Burris Logistics, ShipMonk, Expeditors International, Pronto Cargo Logistics & Supply Chain, Imexlog Logistica Aduaneira Perfect Solutions, Maxitrans Brazil Logistics Company, Norte brasil logistica, Novatrade Brasil, Leo de Juda Logistics Company, Kuwait logistics & freight co, Move One Logistics, Glaube Logistics, Shorages E-Commerce Fulfillment, SLR Shipping Services LLC, Camel Logistics Group LLC, Flow Progressive Logistics, Crown logistics Company, Maersk, Imperial Logistics, APG Logistics, Value Logistics, Transnova Africa, Monteagle Logistics, Megafreight Services, Logistica SA, Eurotrans Maroc, Laser Group
Which Regions Are Leading the Global Third-Party Logistics (3PL) Market in Revenue?
Asia-Pacific was the largest region in the third-party logistics market in 2024. The regions covered in the third-party logistics (3PL) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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