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(IT-NEWSWIRE.COM, September 19, 2018 ) Third party logistics market is expected to grow US$ 1,240.0 million by 2025 from US$ 805.4 million in 2017. The demand for third party logistics is largely influenced by number of factors mainly due to the increase in internationalization and growth in E-commerce in numerous business segment. On the basis of mode of transport, roadways mode of transport accounted for the largest share of the third party logistics market in 2017 in terms of revenue.
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The List of Companies
1. Deutsche Post DHL Group
2. Kuehne + Nagel International AG
3. Nippon Express Co., Ltd.
4. DB Schenker
5. C.H. Robinson
6. DSV
7. XPO Logistics
8. Sinotrans
9. GEODIS
10. UPS Supply Chain Solutions
The competitive dynamics in the third party logistics market is expected to change during the coming years with the entry of new players. Majority of the companies in this market are located in the North America region as well as in the Europe. However, there is significant presence of market players in the developing countries particularly in Asia-Pacific region. Currently, high demand for 3PL is noticed in developed as well developing regions such as Asia-Pacific and Europe owing to the robust economic growth along with growing retail enactment due to the rising disposable income and more inclination of manufacturing companies towards a non-asset based business model. Moreover, U.S., France, UK, China, Japan, and Brazil hold substantial global market share in 3PL market.
On the basis of end-user, retail is the leading industry owing to the industry's more inclination towards achieving online and omni-channel strategies. Currently, free shipping is significantly important for customers, thus, retailers are opting for 3PL providers in order to manage their supply chain processes in order to meet customer demands. 3PL's IT software systems connect well with retail outlets and manage accurate inventory control visibility. Thus, aforementioned factors are increasing the need for 3PL in retail industry.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. It also provides the overview and forecast for the global third party logistics market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the logistics industry
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