Major players in the third-party logistics (3PL) market are DHL International GmbH, Kuehne + Nagel International AG, DB Schenker (DB Group), Nippon Express Co Ltd, Union Pacific Corporation, FedEx Corporation, United Parcel Service (UPS), Panalpina, Maersk, JB Hunt, CEVA Logistics, XPO Logistics Inc.

New York, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Third-Party Logistics (3PL) Global Market Report 2022" - https://www.reportlinker.com/p06351367/?utm_source=GNW
, Yusen Logistics Co. Ltd., NYK logistics Co Ltd, BDP International Inc, Burris Logistics, Kerry Logistics Network Limited, DSV A/S, GEODIS and Sinotrans Limited.

The global third-party logistics market is expected to grow from $906.98 billion in 2021 to $992.23 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The third-party logistics market is expected to reach $1,418.70 billion in 2026 at a compound annual growth rate (CAGR) of 9.2%.

The third-party logistics (3PL) market consists of sales of third-party logistics services by entities (organizations, sole traders, and partnerships) that are used in logistics and supply-chain management to contract a company’s shipping and fulfillment needs, that involve warehousing, purchasing supplies, inventory control, customs brokerage, freight audit, payments, and shipment monitoring. A 3PL service can be a single provider, such as transportation or warehouse storage, or it can be a bundle of services capable of managing the supply chain.

The main types of third-party logistics are dedicated contract carriage, domestic transportation management, international transportation management, warehousing and distribution, and other service types.Dedicated contract carriage refers to a service where shippers can pay a flat rate per truck and choose the length of time for which they can secure vehicles (one day, one week, a month), depending on their needs.

The modes of transport are railways, roadways, waterways, and airways. The various industries involved technological, automotive, retailing, elements, food and groceries, healthcare, and other industries.

Asia Pacific was the largest region in the third-party logistics market in 2021. The regions covered in the third-party logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The third-party logistics market research report is one of a series of new reports that provides third-party logistics market statistics, including third-party logistics industry global market size, regional shares, competitors with a third-party logistics market share, detailed third-party logistics market segments, market trends and opportunities, and any further data you may need to thrive in the third-party logistics industry. This third-party logistics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The development of the e-commerce industry is expected to propel the growth of the third-party logistics market going forward.Electronic commerce (E-commerce) refers to companies and individuals that buy and sell goods and services over the Internet.

Third-party logistics providers (3PL) are utilized by many e-commerce businesses to oversee and manage their supply chain management. For instance, in 2021, according to Oberlo, a US-based dropshipping app for Shopify, total US e-commerce sales reached $960.1 billion, an 18.3 % year-over-year increase from $811.6 billion in 2020. Therefore, the development of the e-commerce industry is driving the third-party logistics market.

The shift in technology is a key trend gaining popularity in the third-party logistics market.Major companies operating in the third-party logistics market are focused on developing new technological solutions to strengthen their position.

For instance, in 2020, DHL Supply Chain, a Germany-based provider of third-party logistics, launched a new “plug & play” robotics platform in partnership with Microsoft, a US-based technology company. This robotic platform has unique features such as reducing integration time and programming efforts for onboarding new automation devices into warehouse facilities and providing DHL customers flexibility in selecting suitable robotics systems by leveraging Microsoft Azure IoT technology and cloud platform services.

In February 2020, C.H Robinson, a US-based company provider of multimodal transportation services and third-party logistics acquired Prime Distribution Services for an amount of $225 million. This acquisition is expected to benefit C.H. Robinson’s retail consolidation business to grow by adding scale, capabilities, and expertise to the company’s portfolio. Prime Distribution Services is a US-based provider of third-party logistics.

The countries covered in the third-party logistics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06351367/?utm_source=GNW

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