The Third-party Logistics Market size was valued at USD 1034 Million in 2022 and the total Third-party Logistics Market is expected to grow at a CAGR of 10.45% from 2023 to 2029, reaching nearly USD 2290 Million.
Third-party Logistics Market Overview
Maximize Market Research’s thorough Third-party Logistics Market report presents a comprehensive regional analysis and competitive overview. The analysis offers valuable insights, aiding businesses and investors in harnessing the market’s promising prospects.
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Third-party Logistics Market Scope and Methodology
The Third-party Logistics Market report offers insights into current trends, key highlights, drivers, challenges, and restraints. It includes market size estimations and growth rates during the forecast period. Regional analysis provides a holistic view, and the competitive landscape is examined using various parameters. Employing a bottom-up approach, data is collected through primary and secondary sources, and qualitative and quantitative analysis is conducted. Research tools like SWOT, PESTLE, and Porter’s Five Forces enhance market analysis. The report is a valuable guide for investors, stakeholders, and market followers, aiding informed decisions in the Third-party Logistics Market.
Third-party Logistics Market Dynamics
The growth of e-commerce in North America has been significant in recent years and has contributed to the increased demand for third-party Logistics services in the region. According to MMR research study, e-commerce sales in North America amounted to $791.7 billion in 2020 and is expected to reach $1.15 trillion by 2023. This growth has created a greater need for logistics services, particularly in the areas of warehousing, fulfilment, and last-mile delivery. With more consumers shopping online, there is a greater demand for warehousing facilities to store and manage inventory. Third-party Logistics providers are responding by building more warehouses and distribution centers, often located closer to urban areas for faster delivery times. Fulfilment is another area where Third-party Logistics providers are playing a key role in the e-commerce industry.
As online retailers face increasing pressure to deliver goods quickly and efficiently, many are outsourcing their fulfilment operations to third-party Logistics providers. These providers are able to handle the entire fulfillment process, from receiving orders to picking and packing items to shipping them to customers. Finally, last-mile delivery is a critical component of the e-commerce supply chain. With more consumers shopping online, there is a greater need for fast, reliable delivery options. Third-party Logistics market players are responding by investing in technology and infrastructure to improve their last-mile delivery capabilities, including the use of drones, autonomous vehicles, and other innovative solutions. The growth of e-commerce in North America has been a major driver of the Third-party Logistics industry in the region, creating new opportunities for providers to offer a wide range of logistics services to online retailers and other businesses.
Third-party Logistics Market Regional Insights
The Third-party Logistics market’s regional landscape reveals distinctive dynamics. In North America, technological advancements and consumer preferences propel growth, supported by robust distribution networks. Europe’s sustainable focus and stringent regulations drive a steady market expansion. The Asia-Pacific region capitalizes on urbanization and industrialization, meeting escalating energy needs. Latin America’s potential lies in renewable energy emphasis, with ample resources and government initiatives. Meanwhile, the Middle East & Africa’s growing interest is fueled by energy diversification goals and increasing investments in renewables, underpinned by favorable conditions for sustainable energy adoption.
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Third-party Logistics Market Segmentation
by End Use
• Manufacturing
• Automotive
by Service
• DTM
• ITM
• VALs
by Transport
• Roadways
• Airways
Third-party Logistics Market Key Players
• DHL Supply Chain & Global Forwarding
• Kuehne + Nagel International AG
• C.H. Robinson Worldwide, Inc.
• DB Schenker
• UPS Supply Chain Solutions
• Nippon Express Co., Ltd.
• XPO Logistics, Inc.
• Sinotrans Limited
• CEVA Logistics
• Expeditors International of Washington, Inc.
• DSV Panalpina A/S
• Geodis
• J.B. Hunt Transport Services, Inc.
• Ryder System, Inc.
• Agility
Key questions answered in the Third-party Logistics Market are:
What is Third-party Logistics ? What was the Third-party Logistics market size in 2022? What are the different segments of the Third-party Logistics Market? What growth strategies are the players considering to increase their presence in Third-party Logistics ? What are the upcoming industry applications and trends for the Third-party Logistics Market? What are the recent industry trends that can be implemented to generate additional revenue streams for the Third-party Logistics Market? What major challenges could the Third-party Logistics Market face in the future? What segments are covered in the Third-party Logistics Market? Who are the leading companies and what are their portfolios in Third-party Logistics Market? What segments are covered in the Third-party Logistics Market? Who are the key players in the Third-party Logistics market?
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2022) Past Pricing and price curve by region (2018 to 2022) Market Size, Share, Size & Forecast by different segment | 2023−2029 Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region Market Segmentation – A detailed analysis by segment with their sub-segments and Region Competitive Landscape – Profiles of selected key players by region from a strategic perspective Competitive landscape – Market Leaders, Market Followers, Regional player Competitive benchmarking of key players by region PESTLE Analysis PORTER’s analysis Value chain and supply chain analysis Legal Aspects of Business by Region Lucrative business opportunities with SWOT analysis Recommendations
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