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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.
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.
Who are the major providers of third-party logistics (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.
Why is the demand for dedicated contract carriage (DCC) solutions growing?
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.
How big is the 3PL market??
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.
What are the key drivers fueling APAC third-party logistics market growth?
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.