The global Third-Party Logistics Market size is expected to reach USD 1,998.73 billion by 2030, registering a CAGR of 8.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The advent of new technologies is changing the 3PL industry dynamics. The advanced data collection capabilities, warehouse automation, and digitalization of the entire supply chain are enabling companies to adopt a consistent innovative, customer-centric, and agile approach. As a result, 3PL companies are providing technologically driven services by investing in blockchain solutions, mobile technologies, and 3PL software to gain a competitive advantage in a fiercely competitive marketplace.
The Internet of Things (IoT) and cloud-based
logistics management solution turn the data into actionable value-added
information, which can shape the strategic decision-making process and increase
productivity. Some of the capital-intensive organizations are increasing their
Information Technology (IT) spending and are using predictive analytics for
supply chain enhancement. For instance, C.H. Robinson Worldwide, Inc. is using Artificial
Intelligence (AI) technology to analyze customer data and get notified
about extreme weather conditions or traffic disruption. Logistics automation is
expected to play a vital role in the growth of the market. The use of robots in
warehouses and unloading docks helps streamline order fulfillment services.
The use of Automated Guided Vehicle (AGV)
can help lessen human errors, resolve material handling issues, ensure movement
of high-volume goods, and increase accuracy & repeatability. To deliver
immediate value and long-term returns, companies are widely accepting logistics
automation. The value-added logistics services are expected to witness the highest
CAGR over the forecast period. Key companies are offering comprehensive
logistics services to ensure the competitiveness of their businesses. Shippers
are reducing operational costs by shifting their focus from transportation and
back-office functions, such as warehousing, order taking & picking process,
kitting & final assembly, product localization, and labeling. Thus, the
value-added logistics services are becoming a boon for shippers to mitigate
inventory & transportation costs.
Related Press Release@ Third-party Logistics Market Report
Third-party Logistics Market
Report Highlights
- The market is anticipated to witness substantial growth during the
forecast period due to factors, such as the development in logistics
infrastructure in the Asia and Middle East regions, the rapid growth of
the e-commerce sector, and the development of new technologies
- The value-added logistics services segment is expected to register
the highest CAGR over the forecast period. The 3PL companies are
emphasizing value-added logistics services to unveil their unique
capabilities and provide enhanced customer experience, facilitating the
strong growth of the segment
- The retail end-use sector segment is expected to register the
fastest CAGR over the forecast period owing to the benefits, such as
same-day delivery and fulfillment capabilities
- The roadways segment accounted for the largest share in 2021 owing
to the growing public-private partnerships model and increased emphasis on
logistics infrastructure
- Globalization, along with sustainable economic growth, is expected
to drive the growth of airways logistics mode over the forecast period
- Asia Pacific is anticipated to register the fastest CAGR from 2022
to 2030 owing to the growing transport infrastructure and effective
transit of freight and goods among regional emerging countries
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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