Press release
2025-2034 Third-Party Logistics (3PL) Market Roadmap: Insights for Competitive Advantage
Third-Party Logistics (3PL)
How Large Will the Third-Party Logistics (3PL) Market Size By 2025?
The size of the third-party logistics (3PL) market has seen a robust expansion in the past few years. This market is projected to escalate from $1208.11 billion in 2024 to $1321.68 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.4%. The historical progress of the market was fueled by the surge in global trade and exports, worldwide population growth, initiatives from the government, and the growing demand from the end-user industries.
How Big Is the Third-Party Logistics (3PL) Market Size Expected to Grow by 2029?
In the coming years, the third-party logistics (3pl) market size is poised for swift expansion. Forecasts suggest that by 2029, it will reach $1955.87 billion, with a compound annual growth rate (CAGR) of 10.3%. This projected growth within the forecast period can be accredited to the fast-paced growth of e-commerce, an increase in retail penetration, and the rising need for efficient inventory management. Key trends predicted for the forecast period encompass the use of artificial intelligence, advanced logistics management platforms, electric vehicles, sophisticated analytics and data-driven solutions, the incorporation of cloud-based logistics platforms, advancements in last-mile delivery, and strategic partnerships and collaborations.
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Which Key Market Drivers Powering Third-Party Logistics (3PL) Market Expansion and Growth?
The expansion of the e-commerce sector is projected to fuel the growth of the third-party logistics market in the future. E-commerce refers to businesses and individuals engaging in purchasing and selling products and services online. A large number of e-commerce companies employ third-party logistics providers (3PL) to handle and coordinate their supply chain management. For example, based on the United States Census Bureau's data, a government agency in the US, the e-commerce sales reached $282.3 billion in August 2024, witnessing a 5.3% rise as compared to the first quarter of 2023. In addition, 16% of the total retail sales for the second quarter of 2024 came from e-commerce. As a result, the evolution of the e-commerce sector is steering the third-party logistics market's growth.
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Which Fast-Growing Trends Are Poised to Disrupt the Third-Party Logistics (3PL) Market?
Wholesalers and third-party logistics (3PL) providers are significantly ramping up their use of artificial intelligence (AI) to improve aspects such as route optimization and fleet administration. A testament to this trend is the January 2022 launch of an AI-backed omnichannel supply chain platform by Verte, a US-based e-commerce service company, specifically for wholesalers and 3PL providers. Verte's technology suite offers instantaneous supply chain insights via a platform driven by data that amalgamates crucial information for supply chain clarity. It's uniquely poised to provide consolidated data solutions addressing key industry issues such as inventory and customer fulfillment. This empowers retailers, shippers, 3PLs, and carriers to function with enhanced efficiency. Verte's platform serves as a sophisticated link to channels of demand, accessible and on-route goods, carriers, service providers, and all types of physical locations. Implementation of Verte's integrated data-centric methodology allows the AI prescriptive features of the platform to be utilized for manufacturing, planning, and positioning of inventory in a multifaceted retail fulfillment network. Verte's AI-powered inventory management tools evaluate consumer fulfillment preferences and purchasing patterns, boosting e-commerce and in-store inventory quantities.
What Are the Emerging Segments in the Third-Party Logistics (3PL) Market?
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, Healare, 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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Who Are the Global Leaders in the Third-Party Logistics (3PL) Market?
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 are the Top Profitable Regional Markets for the Third-Party Logistics (3PL) Industry?
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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