The third-party logistics market is increasing rapidly, witnessing vast investments. The proliferating online retailing sector across the world is a key driving force behind the market growth. Over the past couple of years, there has been a sharp surge in the 3PL market value led by online commerce (eCommerce) sectors. 

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The shift towards automated technologies in retail and eCommerce logistics has certainly impacted the 3PL market growth positively. 3PL companies are implementing micro-fulfillment technology to maximize supply chain efficiencies, optimizing last-mile logistics to boost their businesses. 

This, as a result, helps the 3PL market to garner huge traction across the globe. According to the market research future, the global third-party logistics market is poised to reach a significant valuation by 2027, growing at an impressive CAGR during the review period (2020-2027). 

Additionally, the rapid industrialization and growing numbers of businesses provide an impetus to the growth of the market. Also, advances in logistic technologies act as a key tailwind for market growth. (3PL) providers demonstrate a commitment to improve their operations and meet their customers’ needs.

3PL companies try to solidify their position in the cloud warehouse management category by offering industry-leading solutions for third party-logistics and private company-operated warehouses.

Conversely, rising preference for dynamic, distributed, hybrid networks that locate inventory close to consumers and route orders to reduce fulfillment costs and accelerate delivery intelligently is a major factor impeding the market growth. Nevertheless, the rising adoption of 3PLs by brands and retailers for their needs and to scale hundreds of thousands of packages a day would substantiate the market growth throughout the assessment period.

COVID-19 Analysis 

The third party logistics (3PL) market has been exposed to major challenges owing to the COVID-19 outbreak. Following the emergence of the virus, there has been lockdowns in across the globe along with social distancing trends. The growth of the market rests entirely on the accessibility of the transport chains as well as the market demand of the end-users. The delivery routes have been disrupted for the lockdowns. Besides, the crisis has also impacted the per capita economy of leading consumer countries. The imbalance between supply and demand turns out to be rough on the market. Lack of storage warehouses creates management in the market extremely difficult. The restrictions on borders of infected areas and unequal transactions of outgoing and incoming goods are key obstacles to the market growth. 

Third-Party Logistics (3PL) Market – Segments

The report is segmented into types, modes of transportation, applications, and regions. The type segment is sub-segmented into domestic transportation, international transportation, value-added warehousing & distribution, and others. The mode of transportation segment is sub-segmented into railways, roadways, waterways, airways, and others. 

The application segment is sub-segmented into manufacturing, retail, healthcare, automotive, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.

Global 3PL Market – Regional Analysis

Asia Pacific region dominates the global third-party logistics market. The largest market share attributes to the spurring rise in the logistic industries across the region and advancements in logistic technologies. Besides, the vast base of third-party logistics service providing companies offering faster and cost-efficient shipping to various product or service-oriented industries influences the region’s 3PL market shares.

Moreover, economically and technologically developing countries such as China, Japan, and India play a causal role in developing the market, offering substantial growth opportunities for the market players.

Global Third-Party Logistics Market – Competitive Analysis 

Highly competitive, the global 3PL market appears fragmented due to the presence of several well-established players. Industry players are increasingly forming strategic partnerships and other approaches, such as mergers & acquisitions, collaboration, expansion, and product launch, to gain a competitive share. 

Major Players: 

Players leading the 3PL market include C.H. Robinson Worldwide (US), BDP International Inc. (US), CEVA Logistics (Switzerland), FedEx Corporation (US), DSV Panalpina A/S (Denmark), Burris Logistics (US), DB Schenker Logistics (Germany), DHL International GmbH (Germany), Nippon Express (Japan), and Kerry Logistics (Hong Kong), among others. 

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Industry/Innovation/Related News:

Sep.09, 2021 --- Berkshire Grey, a leading provider of AI-enabled robotic solutions, announced its partnership with advanced handling systems (AHS), a leading system integrator of fulfillment & distribution solutions, to boost robotics solutions developments. 

The company would be able to deliver next-generation warehouse robotics to the world’s largest eCommerce and third-party logistics (3PL) providers. This partnership would help companies grow despite the labor shortages and logistics challenges that are straining the supply chain, combining AI-enabled robotic automation and system design and integration services. 

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