What Does the Historical and Current Third-Party Logistics (3PL) Market Size Trend Indicate?
The third-party logistics (3pl) market has seen considerable growth due to a variety of factors.
• The size of the third-party logistics (3PL) market has experienced considerable growth in the past few years. The predictions are that it will increase from $1208.11 billion in 2024 to $1328.87 billion in 2025, marking a compound annual growth rate (CAGR) of 10.0%.
This surge during the historical period is credited to the rise in trade and exports, expansion of the global population, governmental strategies and a growing demand from end-user industries.
How Will The Third-Party Logistics (3PL) Market Size Evolve In The Foreseeable Future?
The third-party logistics (3pl) market is expected to maintain its strong growth trajectory in upcoming years.
• The 3PL market, or the third-party logistics market, is projected to witness substantial growth in the coming years and is expected to reach a value of $1975.94 billion by 2029, with a CAGR of 10.4%.
This increase during the forecast period is likely due to the rapid expansion of e-commerce, growing retail infiltration, and heightened demand for effective inventory management. In the same forecast period, notable trends include the implementation of artificial intelligence, state-of-the-art logistics management platforms, the utilization of electric vehicles, sophisticated analytics and data-oriented solutions, the shift towards cloud-based logistics platforms, novel innovations in last-mile delivery, as well as partnerships and collaboration.
Which Factors Are Boosting Growth In The Third-Party Logistics (3PL) Market?
The anticipated growth of the third-party logistics market is being driven by the expansion of the e-commerce industry. E-commerce, which translates to the buying and selling of goods and services over the internet by businesses and individuals, often relies on third-party logistics providers (3PL) for the management of its supply chain. Case in point, the US Census Bureau, a government agency in the United States, released data in August 2024 showing that e-commerce sales hit $282.3 billion during this time, representing a 5.3% rise in comparison to the first quarter of 2023. In the second quarter of 2024, e-commerce sales accounted for 16% of total retail sales. Therefore, the increasing prevalence of the e-commerce industry is fueling the expansion of the third-party logistics market.
What Are The Core Segments Of The Globa Third-Party Logistics (3PL) Market?
The third-party logistics (3PL) market covered in this report is segmented –
1) By Service Type: Dedicated Contract Carriage, Domestic Transportation Management, International Transportation Management, Warehousing and Distribution, Other Service Types
2) By Mode Of Transport: Railways, Roadways, Waterways, Airways
3) By End-Use Industry: Manufacturing, Retail, Healthcare, Automotive, Other End-Use Industries
Subsegments:
1) By Dedicated Contract Carriage (DCC): Fleet Management, Route Optimization, Driver Management
2) By Domestic Transportation Management (DTM): Truckload (TL) Services, Less-than-Truckload (LTL) Services, Intermodal Transportation
3) By International Transportation Management (ITM): Ocean Freight Management, Air Freight Management, Customs Brokerage
4) By Warehousing And Distribution: Inventory Management, Order Fulfillment, Cross-Docking Services
5) By Other Service Types: Reverse Logistics, Freight Forwarding, Supply Chain Consulting
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Which Emerging Trends Are Reshaping The Third-Party Logistics (3PL) Market?
Wholesalers and third-party logistics (3PL) providers are progressively harnessing artificial intelligence in their operations. Such use of AI in logistics plays a pivotal role in route streamlining and fleet oversight. Illustratively, in January 2022, a US e-commerce service firm, Verte, unveiled an AI-empowered omnichannel supply chain platform targeted at wholesalers and 3PL providers. This technology offering from Verte affords real-time visibility into supply chain operations through a data-centric platform that consolidates crucial supply chain data to enhance transparency. It's strategically positioned to offer consolidated data responses to tackle predominant industry issues like inventory and customer fulfillment, thereby enabling retailers, shippers, 3PLs, and carriers to boost operational efficiency. Verte’s platform serves as a refined link to demand channels, accessible and en-route items, carriers, service providers, and all forms of physical locations. By employing Verte's integrated data-driven methodology, the AI's prescriptive solutions can be employed in the creation, planning, and coordination of inventory across a complicated retail fulfillment network. Verte’s AI inventory management tools evaluate customer fulfillment trends and purchasing patterns, as well as improve e-commerce and store inventory volumes.
Who Are the Key Players in the Third-Party Logistics (3PL) Market?
Major companies operating in the third-party logistics (3PL) market include:
• Kuehne+Nagel International AG
• DSV A/S
• The Deutsche Bahn AG
• Deutsche Post DHL Group
• C.H Robinson Worldwide Inc.
• J.B. Hunt Transport Inc
• SinoTrans Logistics Limited
• FedEx Corporation
• Nippon Express Co. Ltd
• CEVA Logistics
• Aegis Logistics Ltd
• Allcargo Logistics Ltd
• AWL India Pvt. Ltd
• Blue Dart Express Ltd
• Delhivery Pvt. Ltd
• Gati Ltd
• Mahindra Logistics Ltd
• Safexpress Pvt Ltd
• TVS Supply Chain Solutions
• Fulfillment Bridge Inc
• DocShipper Group
• The Rhenus Group
• DB Schenker Logistics
• Gebruder Weiss
• Geodis
• Bolloré Logistics
• Huboo
• Sas Grup
• Max Loads
• Agexim Spedition
• Sc Oprean Srl
• Vectra Logistic
• Rzd Logistics Eurosib
• Omnipack
• Union Pacific Corporation
• Weber Logistics
• XPO Logistics Inc
• TA Services Yusen Logistics Co. Ltd
• BDP International Inc
• Burris Logistics
• ShipMonk
• Expeditors International
• Pronto Cargo Logistics & Supply Chain
• Imexlog Logistica Aduaneira Perfect Solutions
• Maxitrans Brazil Logistics Company
• Norte brasil logistica
• Novatrade Brasil
• Leo de Juda Logistics Company
• Kuwait logistics & freight co
• Move One Logistics
• Glaube Logistics
• Shorages E-Commerce Fulfillment
• SLR Shipping Services LLC
• Camel Logistics Group LLC
• Flow Progressive Logistics
• Crown logistics Company
• Maersk
• Imperial Logistics
• APG Logistics
• Value Logistics
• Transnova Africa
• Monteagle Logistics
• Megafreight Services
• Logistica SA
• Eurotrans Maroc
• Laser Group
What are the Regional Insights into the Third-Party Logistics (3PL) Market?
Asia-Pacific was the largest region in the third-party logistics market in 2024. The regions covered in the third-party logistics (3PL) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
