PUBLISHER: Allied Market Research | PRODUCT CODE: 1266324
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266324
Third-party logistics (3PL) in the supply chain management of a company is a third-party business used by manufacturers to provide fulfillment services and distribute products of the company. These services consist of warehousing, integrated operations, and transportation services, which can be scaled according to customer needs and market conditions. Logistics service providers are responsible for the delivery of goods from manufacturers to consumers.
At present, the third-party logistics (3PL) market has witnessed significant growth over the years, owing to increase in trading activities due to globalization and the development of the e-commerce industry. Similarly, the continuous effort of contract logistics companies to offer efficient last-mile deliveries is another opportunity expected to fuel the third-party logistics (3PL) market growth in the near future. For instance, in September 2021, United Parcel Service, Inc. (UPS) announced an agreement to acquire Roadie, an on-the-way delivery service provider within the U.S., which reduced the transit times for same-day deliveries as well as last-mile delivery services across the U.S.
In addition, government initiatives such as trade agreements & treaties and public-private partnerships are further bolstering the demand for third-party logistics and management networks worldwide. For instance, in Russia, the positive trend of international trade, positive effects of expansionary monetary policy (QE), and rapid growth in GDP fuel the growth of the third-party logistics market in the country. Furthermore, expansion of private firms to serve a wide range of services in the third-party logistics sector is expected to drive market growth. For instance, in January 2022, Urb-it, a fast-expanding sustainable logistics network, announced the debut of its sustainable delivery services in Spain. This is the following phase of an ambitious expansion plan across Europe of Urb.
For the purpose of analysis, the global third-party logistics (3PL) market is segmented on the basis of mode of transport, service type, industry, and region. On the basis of mode of transport, the market is categorized into railways, roadways, waterways, and airways. On the basis of service type, it is segregated into dedicated contract carriage (DCC), domestic transportation management, international transportation management, warehousing & distribution, and others. On the basis of industry, the market is fragmented into technological, automotive, retailing, elements, food & beverages, healthcare, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global third-party logistics (3PL) market are: A.P. Moller - Maersk, C.H. Robinson Worldwide, Inc., DB Schenker, DHL International GmbH, DSV, FedEx Corporation, GEODIS, Kuehne+Nagel Inc., UPS, and XPO Logistics Inc.