Third party logistics Market to reach US$ 1,240.0 million by 2025

(EstateNewsWire.com, December 11, 2018 ) Increase in demand for minimizing overall operational cost and manufacturer's focus on timely delivery of products are projected to escalate the market growth at a CAGR of 5.6%.

Latest market study on “Third Party Logistics (3PL) Market to 2025 by Mode of Transport (Roadways, Railways, Waterways, and Airways), Services (International Transportation, Warehousing, Domestic Transportation, and Inventory Management), and End-User (Automotive, Healthcare, Retail, and Consumer Goods) – Global Analysis and Forecast”, the third party logistics market is estimated to reach US$ 1,240.0 million by 2025 from US$ 805.4 million in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

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Asia-Pacific is the dominant region in the third party logistics market and this region is expected to continue its lead during the forecast period. Where, China dominated the demand for third party logistics services with the increase in business expansion. Asia-Pacific is contributing to the highest revenue globally due to robust economic growth along with growing retail enactment owing to the rising disposable income in this region. Further, fast growth in e-commerce sector and rise in foreign direct investment are boosting the market for third party logistics in this region. North America is expected to be the fastest growing region in third party logistics market owing to the service integration, data management, expansion of service offerings, and inclination towards offering more flexible solutions to customers.

Roadways is the leading mode of transport segment, whereas airways is growing rapidly across the globe.
Airways is often considered as an alternative for other mode of transport especially in case of flooding and conflict situations. The factors that influence the selection for airway mode of transport are availability & cost of different types of aircraft, the distance to be travelled & possible constraints on certain airspace, and securing landing & over-flight permission.

The major players operating in the third party logistics market are Deutsche Post DHL Group, Kuehne + Nagel International AG, Nippon Express Co., Ltd., DB Schenker, C.H. Robinson, DSV, XPO Logistics, Sinotrans, GEODIS, and UPS Supply Chain Solutions.

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Sameer Joshi

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