Global Third Party Logistics Market Insights
The Global Third Party Logistics Market was valued at USD 1045.93 Billion in 2021, and it is expected to reach a value of USD 1924.31 Billion by 2028, at a CAGR of 9.10% over the forecast period (2022 - 2028).
Third-party logistics refers to a company's capacity to outsource logistics and distribution activities. Inventory management, cross-docking, door-to-door delivery, and product packing are all services that third-party logistics companies can provide. Attributing to the e-commerce industry's growth, the third-party logistics services market is predicted to rise significantly. Furthermore, demand for this service is likely to rise in the near future as manufacturers and retailers focus on their core business (referred to as core competencies) and increasing interest in subcontracting activities such as logistics, which require expertise. As a result of the growing competition, manufacturers' focus has turned to promoting each specialization in manufacturing and distribution.
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Global Third Party Logistics Market Segmental Analysis
The Global Third Party Logistics Market is segmented on the basis of Transport, Service Type, Industry, and Region. Based on Transport, the market is segmented into Railways, Roadways, Waterways, and Airways. Based on Service Type, the market is segmented into Dedicated Contract Carriage (DCC), Domestic Transportation Management, International Transportation Management, Warehousing & Distribution, and Others. Based on the Industry, the market is segmented into Technological, Automotive, Retailing, Manufacturing, Elements, Food & Groceries, Healthcare, and Others. Based on region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Transport
Analysis by Service Type
Global Third Party Logistics Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Player’s Company Profiles
- DHL Group (Germany)
- Kuehne + Nagel (Switzerland)
- C.H. Robinson (US)
- Ceva Logistics (France)
- FedEx Corporation (US)
- Nippon Express (Japan)
- DB Schenker (Germany)
- UPS (US)
- JB Hunt (US)
- Panalpina (Switzerland)
Recent Developments
- In May 2022, DHL group announced to add 44 electric trucks in its DHL fright to reduce the carbon footprint and to get the zero-emission norm in the European Union.
- In May 2022, Zyngo EV Mobility Pvt. Ltd. announced to increase its active fleet size to deploy over 18,000 electric vehicles, which shall consist of around 60% EVs 2Ws and 40% EV 3Ws, for last-mile deliveries across India by the end of the current fiscal, i.e. FY 2022-23.
- In January 2022, Ceva Logistics expanded eCommerce logistics with a large fashion cosmetic brand ABOUT YOU for the period of five more years and this gave a huge revenue boost to the company.
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