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Third-Party Logistics (3PL) Market Size

Report ID: GMI132
Published Date: Nov 2022
Report Format: PDF

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Third-Party Logistics Market Size

Third-Party Logistics Market size exceeded USD 1 Trillion in 2022 and is projected to expand at more than 5% CAGR from 2023 to 2032.

Changing consumer buying patterns have fostered the expansion of the global e-commerce industry. International e-commerce has enabled organizations to expand into foreign markets, shortened B2B sales cycles, and made it easier to find the right product-market fit. To operate such businesses, companies require logistic operators specializing in inventory management, packaging, fulfillment, and returns, creating growth opportunities for the 3PL industry.

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However, a lack of logistic control may hamper the market growth to some extent. Manufacturing companies must depend on the competency, reliability, and honesty of third-party logistics service providers, limiting their control over operational efficiency. Organizations are unable to track warehouse activities, creating legitimate concerns concerning product quality. These logistical disruptions may impact the planning, predictability, and consumer satisfaction for the organizations, inhibiting the industry progress.

Third-Party Logistics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Third-Party Logistics Market Size in 2022:	USD 1 Trillion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 3 Trillion
Historical Data for:	2018 to 2022
No. of Pages:	327
Tables, Charts & Figures:	388
Segments covered:	Solution, Mode, Application, and Region
Growth Drivers:	Growing application of reverse logistics in the retail industry Technological advancements in logistics and SCM in the U.S. Rising demand from the manufacturing industry to manage inventory and supply chain in Europe Government initiatives encouraging the Asia Pacific market growth Emerging e-commerce industry in South America and MEA
Pitfalls & Challenges:	Lack of logistics control Risks associated with cross-border transportation

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of 3PL crossed USD 1 Trillion in 2022 and is anticipated to exhibit over 5% CAGR between 2023-2032, due to the growing global e-commerce sector.

Third-party logistics market share from the dedicated contract carriage (DCC) solution segment is expected to register more than 5% gains through 2032, on account of rising demand for efficient fleets.

Asia Pacific 3PL industry is projected to record nearly 10% growth rate from 2023-2032 owing to the rapid expansion of the e-commerce sector and increased demand for 3PL services.

AmeriCold Logistics LLC, BDP International, Burris Logistics, C.H. Robinson Worldwide, DB Schenker Logistics, and DHL Supply Chain are some of the major companies operating in the industry.