Sat, 26 Sep 2020

Zion Market Research has published a new report titled "Global Third-Party Logistics (3PL) Market - By Mode (Road & Rail, Sea, and Air), By Solution [International Transportation Management (ITM), Domestic Transportation Management (DTM), Warehousing & Distribution, Dedicated Contract Carriage (DCC), and Logistics Software], And By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 - 2025." According to the report, global demand for third-party logistics (3PL) market was valued at around USD 800 Billion in 2019 and is anticipated to surpass USD 1,000 Billion in 2025, proliferating at a CAGR of more than 7% between 2019 and 2025.

Rail & Road transportation segment holds the major share in the global 3PL market

Third-party logistics services providers prefer rail & roadway to deliver parcels within a considerable reach. Road cargo transportation helps in offering uninterrupted delivery services, as transportation mode operations are not dependent on railway and airport schedules. Moreover, with the installation of advanced GPS navigation systems by the 3PL companies on a rail- and road-transported cargo, the real-time delivery status of the parcel can be estimated. Moreover, road transportation is economical for short-distance parcel delivery.

The Asia Pacific third-party logistics (3PL) market is likely to grow substantially during the study timeframe

The growing e-commerce shopping trend and established roadways connectivity in the region are burgeoning the Asia Pacific third-party logistics (3PL) market at a rate of over 10% during the forecast period. Besides this, the rising count of start-ups in the region is contributing to the 3PL market growth. The Asia Pacific is recognized as the manufacturing hub for various sectors across the globe, thereby propelling the regional third-party logistics market.

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The Asia Pacific third-logistics market (3PL) market flourished recently owing to the trade war between the U.S. and China. The trade war urged Chinese market competitors to focus on the domestic market, thereby fueling the regional third-party logistics market.

Some of the key players driving the global third-party logistics (3PL) market are BDP International, DHL Supply Chain, FedEx, Kuehne+Nagel International AG, Ryder Supply Chain Solutions, Transplace Texas LP, AmeriCold Logistics LLC, C.H. Robinson Worldwide, Echo Global Logistics, J. B. Hunt, Nippon Express Co. Ltd., SinoTrans Logistics Limited, UPS Supply Chain Solutions, Expeditors International of Washington, Penske Logistics Inc., Unyson Logistics Inc., Kintetsu World Express Inc., DB Schenker Logistics, XPO Logistics Inc., Landstar System Inc., Burris Logistics, Total Quality Logistics Inc., Schneider National Inc., DSV A/S, and GEODIS.

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