Asia Pacific Third Party Logistics Market is projected to surpass USD 400 billion by 2024. The growth can be credited to increasing adoption of warehousing and distribution centers and facilities in countries such as India, China, Thailand, and Singapore. Rapid technological advancements in logistics software will propel the U.S. 3PL market growth.
Third Party Logistics (3PL) Market is projected to surpass USD 1 trillion by 2024. Growing focus towards cost effectiveness and core business functions incurred in logistics are the major factors driving the third-party logistics market over the forecast timeframe.
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Rising transportation costs will encourage shippers to discover new alternatives in order to minimize distribution and shipping costs out of the supply chain. Third party logistics market service providers offers timely and effective logistics solutions which in turn optimize transportation costs. The rising trend of e-commerce accompanied by entrepreneurial ventures will favor the 3PL market demand for customized logistics services.
U.S. 3PL Market Size, By Solution, 2016 & 2024 (USD Billion)
International transportation management (ITM) is expected to witness significant growth and exceed USD 350 billion by 2024. The domestic transportation management includes value added services as well as freight brokerage and is estimated to grow at over 5% CAGR. Warehousing and distribution (W&D) occupied over 20% of the overall third party logistics market share in 2016. It consists of long-term agreements, contract warehousing and distribution center operations with various value addition services.
Participants involved in the third party logistics market include Kuehne+Nagel, Deutsche Post DHL (Exel), C.H. Robinson, Expeditors International of Washington, UPS Supply Chain Solutions, etc. The business is fragmented and the strategies adopted by companies include collaboration and partnerships, long term agreements with key industries such as automotive, and retail. Most of these providers are large and have the financial resources to maintain their dedicated IT staff and own servers.
Browse key industry insights spread across 165 pages with 64 market data tables & 31 figures & charts from the report, Third Party Logistics (3PL) Market in detail along with the table of contents:
Partial Chapter of the Table of Content
hapter 4 3PL Market, By Solution
4.1 3PL market share by solution, 2016 & 2024
4.2.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.3.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.4.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.5.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.6 Logistics software
4.6.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)