The global 3PL Services market reached a value of about USD 958.2 billion in 2021. The industry is projected to grow at a CAGR of around 5.25% in the forecast period of 2022-2027 to reach a value of about USD 1302 billion by 2027.
The global 3PL Services industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The rising outsourcing of key transportation and logistics services and expanding e-commerce penetration drive industry growth. The key demand indicator is the highest category spender in the industry report by region—Asia and North America.
In logistics and supply chain management, 3PL logistics is an organisation using third-party enterprises to outsource aspects of its distribution, warehousing, and fulfilment services. The things will be picked, packed, and sent by it. 3PL is the crucial connection that connects the production processes to the consumers. The 3PL Services industry report comprises regions (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).
The Asian and North American region holds the largest share in the market. Because of the rising populations and manufacturing bases, Japan, China, India, South Korea, and Vietnam have significant market share. In the North American region, with a shortage of truck capacity in the United States, shippers turn to exclusive contract carriage services. Furthermore, the region's growing need for cold storage is likely to enhance the 3PL industry in the future.
The rise of the e-commerce industry is driving the market; Increased globalisation, rising population, and shifting purchasing patterns have expanded import-export operations worldwide. The rapid growth of the e-commerce sector has raised transportation revenues even more. Furthermore, the expansion of the global market is a significant driver driving the 3PL industry forward. 3PL services are becoming increasingly crucial for price-conscious clients who demand a more extensive selection of high-quality items delivered on time. As a result, the development of the 3PL industry is propelling. By balancing the demands of many client shippers across transportation and distribution services, 3PL organisations may make greater use of transportation assets, resulting in economies of scale. Supply chains get longer and more complicated due to offshoring and outsourcing. The third-party logistics market is expected to be driven by an increase in demand for shipping cost reduction and a focus on timely delivery management, a decrease in company assets, the ability to focus on core business, and an advantage in managing seasonal variations.
However, the Manufacturers' lack of control over logistic services and delivery processes will likely hamper the market growth.
The global 3PL Services industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global 3PL Services regions, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
When outsourced items are transported straight from the production to a third-party logistics facility, the logistics provider can give the services after the inventory arrives. They handle all of the paperwork, stick to the timetable, and save money. It covers export and import regulations if items are shipped to a place outside the nation or imported from another country and delivered to the clients. 3PL businesses guarantee that all transportation standards are met. The third-party logistics organisation finds the most professional, timely, and cost-effective freight transportation for domestic or local freight. It can be transported by rail or vehicle. They also coordinate and oversee the pick-up and delivery schedules to keep things on track.
The growing advancements in the sector are propelling the industry. Many 3PLs have already started adopting mobile devices and applications to boost their agility. Devices with radio frequency identification (RFID) chips are capable of communicating their position and storing data about themselves, allowing them to be monitored and recognised quickly. Customers may purchase, process, and track freight shipments using mobile applications loaded on their phones. Furthermore, Long-haul delivery is being replaced by just-in-time delivery by 3PL providers. The vendors are also consolidating their storage facilities into a single warehouse. Companies invest in smaller vehicles and vans to enable a rise in last-mile delivery, allowing shorter and more frequent deliveries. Hence, the industry is witnessing growth.
The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
The industry is highly fragmented and competitive, with numerous big corporations strategically creating partnerships with mid-sized or small-sized enterprises to utilise their regional logistical skills. Major regional players have been seen branching out into other territories, allowing them to expand their geographic influence. With specialised and industry-specific services, new rivals are entering the 3PL market. As a result, the market sees a lot of joint ventures, mergers, and acquisitions. The corporations emphasise technology-driven services, such as route optimisation and real-time cargo tracking. The businesses are also attempting to retain total visibility across the whole supply chain without overburdening their customers. Shipper-carrier partnerships improve information exchange and transparency between the two sides, resulting in a more favourable business climate.
1. Executive Summary
2. Global 3PL Services Market Snapshot
2.1. 3PL Services Market Outlook
2.2. Regional Overview
2.2.1. North America
2.2.3. Asia Pacific
2.2.4. Latin America
3. Impact of Recent Events
4. 3PL Services Value Chain Analysis
5. Major Risk Factors in Sourcing
6. 3PL Services Price Analysis
7. Key Demand Indicator Analysis
8. Key Price Indicator Analysis
9. 3PL Services Market Dynamics
9.1. Drivers & Constraints
9.2. Industry Events
9.3. Innovations & Trends
9.4. SWOT Analysis
9.5. Porter’s Five Forces
9.5.1. Buyer Power
9.5.2. Supplier Power
9.5.3. Threat of New entrants
9.5.4. Threat of Substitutes
9.5.5. Industry Rivalry
10. Industry Best Practices
10.1. Sourcing Strategy
10.2. Procurement Model
10.3. Contract Structure
10.4. Negotiation Levers
10.5. Pricing Model
10.6. Key Factors Influencing the Quotation
11. Key Supplier Analysis
11.1. Toll Holdings Ltd
11.2. Qube Holdings Ltd
11.4. DHL Global Forwarding
11.5. CEVA Logistics
11.6. SCT Logistics
11.7. Kuehne + Nagel International AG
11.8. Nippon Express
11.9. DB Schenker
11.10. C.H. Robinson
11.11. DSV Group
11.12. UPS Supply Chain Solutions
The global 3PL Services market size was valued at USD 958.2 billion in 2021.
As per the mode of transit provided, the Road Freight, Ocean Freight, and Air Freight segment is anticipated to lead the market between 2022 and 2027.
The significant demand for transporting goods due to the rise in globalisation worldwide is one of the essential drivers of the 3PL Services market growth.
Toll Holdings Ltd, Qube Holdings Ltd, Linfox, DHL Global Forwarding, and CEVA Logistics are some of the key players in the market.
The Asia and North America region of the 3PL Services industry holds a significant market share.
The global 3PL Services market attained a value of USD 958.2 billion in 2021, driven by the rising e-commerce industry prevalence. Increased globalisation, growing population, and shifting purchasing patterns have expanded import-export operations worldwide. The expanding growth of the e-commerce sector has raised transportation revenues even more. Aided by the growing advancements in the industry, such as Devices with radio frequency identification (RFID) chips and just-in-time delivery by 3PL providers, the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 5.25%. The market is projected to reach USD 1302 billion by 2027. Some of the leading players in the industry are Toll Holdings Ltd, Qube Holdings Ltd, Linfox, DHL Global Forwarding, and CEVA Logistics.
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