Logistics Freight Management Storage Supply Concept
The Third Party Logistics 3PL Global Market Report 2023 by The Business Research Company, provides third party logistics 3pl market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Third Party Logistics 3PL Global Market Report 2023, the market size is expected to grow from $997.51 billion in 2022 to $1,099.3 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of third-party logistics (3PL) is expected to grow to $1,579.84 billion in 2027 at a CAGR of 9.5%.
The development of the e-commerce industry is expected to propel the growth of the third-party logistics market going forward. Electronic commerce (E-commerce) refers to companies and individuals that buy and sell goods and services over the Internet. Third-party logistics providers (3PL) are utilized by many e-commerce businesses to oversee and manage their supply chain management.
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The third party logistics 3pl market 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 Industry: Technological, Automative, Retailing, Elements, Food And Groceries, Healthcare, Other Industries
The shift in technology is a key trend gaining popularity in the third-party logistics market. Major companies operating in the third-party logistics market are focused on developing new technological solutions to strengthen their position. For instance, in 2020, DHL Supply Chain, a Germany-based provider of third-party logistics, launched a new “plug & play” robotics platform in partnership with Microsoft, a US-based technology company. This robotic platform has unique features such as reducing integration time and programming efforts for onboarding new automation devices into warehouse facilities and providing DHL customers flexibility in selecting suitable robotics systems by leveraging Microsoft Azure IoT technology and cloud platform services.
The third party logistics 3pl market report table of contents includes:
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Top Major Players
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