Global Third-Party Logistics (3PL) Market Report and Forecast 2024-2032

Global Third-Party Logistics (3PL) Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global third-party logistics (3PL) market is projected to grow at a CAGR of 5.30% between 2024 and 2032. Aided by the surge in e-commerce, globalisation of supply chains, and growing complexity in logistics operations, the market is expected to grow significantly by 2032.

Third-party logistics providers, or 3PLs, are external organisations hired by companies to perform logistics services that have traditionally been performed in-house. These services can encompass anything related to the management of goods and resources, including transportation, warehousing, distribution, and freight negotiation.

One of the primary drivers of the global third-party logistics (3PL) market growth is the burgeoning growth of e-commerce. As e-commerce continues to expand, companies increasingly need sophisticated, timely, and cost-effective logistics solutions to meet consumer expectations for fast and reliable delivery. This trend is causing more companies to outsource their logistics operations to 3PL providers.

Moreover, globalisation has significantly increased the complexity of supply chains. Companies are sourcing and distributing products on a global scale, which requires specialised expertise in logistics and supply chain management. This factor heavily contributes to the global third-party logistics (3PL) market demand, as these providers are often more equipped to handle the intricate logistics that international shipping entails.

Furthermore, companies are focusing more on their core competencies and looking for ways to streamline operations and reduce costs. Outsourcing logistics to a 3PL can help companies achieve these goals by eliminating the need to invest in warehouse space, technology, and staff to execute the logistics process.

The services offered by 3PLs have significantly diversified and evolved beyond basic warehousing and transportation. These now include integrated services such as inventory management, cross-docking, door-to-door delivery, and packaging of products, as well as advanced services like product labelling, reverse logistics, and freight brokerage.

Moreover, with advancements in technology, many 3PLs are increasingly leveraging digital tools, such as data analytics, artificial intelligence (AI), and blockchain technologies to enhance visibility, efficiency, and reliability in the supply chain. These advancements will likely impact the third-party logistics (3PL) market outlook in the forecast period.

Market Segmentation

The market can be divided based on the following.

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global third-party logistics (3PL) market. Some of the major players explored in the report by Expert Market Research are as follows:

• DHL Global Forwarding
• Kuehne + Nagel International AG
• DB Schenker
• DSV A/S
• Sinotrans Changhang Group
• Panalpina
• Nippon Express Co., Ltd.
• Expeditors
• UPS Supply Chain Solutions, Inc.
• Hitachi Transport System
• C.H. Robinson
• Hellmann Worldwide Logistics SE & Co. KG
• Bolloré Logistics
• CEVA Logistics
• Yusen Logistics Co., Ltd.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.