The third-party logistics market is set to grow from its current market value of more than USD 1 trillion to over USD 1.8 trillion. The e-commerce industry has been witnessing commendable growth over the years, primarily driven by the introduction of various technologies, which is likely to positively influence global third-party logistics industry size. Various leading e-commerce companies are adopting 3PL in their operation to simplify supply chain solutions.

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Logistics applications are highly being incorporated with several advanced software solutions, such as cloud ERP and SCMs. These software solutions deliver several advantages, including real-time data, inventory tracking, warehouse management, and online documentation for international freight. Growing trade activities and rising globalization have accelerated integration of advanced logistics features, which will spur third-party logistics market growth.

3PL providers, in essence, help the retailers to improve their services and enhance their customer base. The adoption of these services majorly assist e-commerce companies to maximize their operational efficiency and improve the profitability of sellers.

3PL services assist in reducing the cost of shopping, lowers the time taken to deliver the product, enhances consumer satisfaction and fulfills the need for an advanced supply chain management. With the massive expansion of companies across the world and the simultaneous growth in their consumer pools, 3PL market will observe a meteoric rise soon.  

Third-party logistics market is likely to derive commendable gains from the manufacturing sector. Technological advances in logistics and supply chain management have facilitated various enhanced functions, such as warehouse management, online documentation for international freight, real-time data, and others, which helps the manufacturing sector to ease the complexities of its business operations.

Expanding manufacturing sector across several regions, especially in Europe is likely to induce massive 3PL industry demand. For example, as per the estimates of the ‘Manufacturing Organization UK’, in 2019, the UK became the ninth largest manufacturing country in the world by generating an annual output revenue of $192 billion. Also, Europe is entering into free trade agreements with several nations, resulting in huge growth opportunities for Third-party logistics market.

Third-party logistics service providers are significantly pushing the transformation of supply chain management system, which has attracted the attention of the retail industry. Retailers are utilizing 3PL services to increase value, improve customer engagement, and most importantly, to expand their geographical reach. Incorporation of the latest technologies within logistics services, help 3PL service providers to deliver data-driven solutions, which are becoming pivotal for retail business expansion.

Third-party logistics market players are extensively focusing on delivering advanced value-added services and offering better services to secure customer loyalty. These service providers are offering cost-effective services and technically advanced solutions to expand their customer base globally. For example, in December 2019, J.B. Hunt Transport Services, Inc., integrated JB hunt 360 with the supply chain management platform of JDA Software Inc. to offer value-added services to its consumers, such as higher pricing visibility. 

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Some Point from Table of Contents:

Data Tables

TABLE 1.    3PL industry 360⁰ synopsis, 2016 – 2026

TABLE 2.    Third-party logistics market size, 2016 – 2019 (USD Billion)

TABLE 3.    3PL market size, 2020 – 2026 (USD Billion)

TABLE 4.    third-party logistics market size, by region, 2016 – 2019 (USD Billion)

TABLE 5.    3PL market size, by region, 2020 – 2026 (USD Billion)

TABLE 6.    3PL market size, by solution, 2016 – 2019 (USD Billion)

TABLE 7.    third-party logistics market size, by solution, 2020 – 2026 (USD Billion)

TABLE 8.    3PL market size, by mode, 2016 – 2019 (USD Billion)

TABLE 9.    3PL market size, by mode, 2020 – 2026 (USD Billion)

TABLE 10.    Vendor matrix

TABLE 11.    Traditional logistics vs 3PL

TABLE 12.    Industry impact forces

TABLE 13.    Overview of key players

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