Logistics Services Market – Description
Third-party logistics providers are sometimes referred to as the Global Logistics Services (3PL & 4PL) market Ecosystem. Several businesses hire third party logistics providers to handle their outsourced logistical needs. Among the services they offer are freight forwarding, customs brokerage, inventory storage and management, shipping and distribution, and cross-docking. Delivery is quick because the logistics services (3PL & 4PL) market ecosystem works effectively with both local and international distribution.
Additionally, 3PL saves money and time through economies of scale, and it works well with big orders and businesses that are expanding quickly. However, 3PL services can be pricey for modest orders and don’t include perishable, hazardous, or combustible goods. Small and medium-sized firms are most suited for the ecosystem services offered by the logistics services (3PL & 4PL) sector.
Global Logistics Services (3PL and 4 PL) Market – Overview
The Global logistics services (3PL and 4 PL) Market is expected to grow at a considerable rate with a growing CAGR (Compound annual growth rate) of 6.8% over 2022-2030.
The market is expected to rise as a result of rising urbanisation, rising automobile demand, and automotive industry technical developments. Due to the expansion of the automotive sector, OEMs are seeing an increase in demand for automotive parts and components.
Proliferation of cutting-edge parts and components needed for emerging automotive technologies like autonomous driving, electric vehicles, etc. Government laws requiring automakers to employ a specified range of parts and components in their vehicles in order to comply with strict emission and safety standards.
Consumers are increasingly customising their vehicles, which boosts the demand for aftermarket parts and accessories. This can be ascribed to an increase in worldwide freight traffic brought on by an increase in e-commerce operations as well as an increase in automotive demand across various geographic areas.
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Global Logistics Services (3PL and 4 PL) Market – Key trends
Increasing E-commerce industry will help the market expansion
The management of the supply chain procedures by e-commerce enterprises has become more challenging due to the growing internationalisation. The market need for logistics service providers is growing as a result of the value-added services they offer, including managing a company’s supply chain procedures, warehousing, transportation, evaluating and giving a better solution and technology to manage business, among others. Since managing inventory for the e-commerce sector is a challenging endeavour, logistics service providers offer strategic vision and solutions to assist these businesses in running more successfully and efficiently. The logistics service providers offer effective last-mile delivery services to the e-commerce businesses thanks to their proficiency and experience in the field of supply chain management.
Increase use of logistics services will drive the market growth
Most businesses outsource their logistical needs in order to cut costs and concentrate on their core business operations. A third-party logistics company offers a variety of services, such as inventory management, packaging, freight forwarding, and warehousing. Managing resources, infrastructure, technology, distribution, and procurement, as well as offering supply chain solutions and other services to businesses, is the responsibility of a fourth party logistics firm.
Global Logistics Services (3PL and 4 PL) Market – Segmental assessment
By service type
1) Dedicated Contract Carriage (DCC)/Freight Forwarding
2) Domestic Transportation Management (DTM)
3) International Transportation Management (ITM)
4) Warehousing & Distribution (W&D)
5) Value Added Logistics Services (VALs)
6) Freight Sourcing
7) Others
8) Airways
By mode of transportation
1) Airways
2) Waterways
3) Railways
4) Roadways
5) Others
By end-use industry
1) Automotive
2) Healthcare
3) Food and beverages
4) Consumer electronics
5) Retail and consumer goods
6) Industrial manufacturing
7) Oil and gas
8) Others
Global Logistics Services (3PL and 4 PL) Market – Geographical landscape
The major regions constituting the geographical ambit of this business sphere are North America, Middle East & Africa, Europe, Asia Pacific, and South America. Among these, Asia-Pacific is projected to capture a substantial revenue share over 2022-2030, The top suppliers in the market, including Nippon Express, Yusen Logistics, and APL Logistics, offer 3PL and 4PL services. The market for logistic services in Asia Pacific has grown as a result of an increase in demand from various e-commerce businesses in the region. The deployment of new platforms and technology in North American and European nations has met the growing demand for efficient service delivery and customer experience.
Global Logistics Services (3PL and 4 PL) Market – Competitive landscape
The prominent companies defining the competitive terrain of this marketplace are Allyn International Services, Inc, United Parcel Service of America, Inc, GEFCO, XPO Logistics, Inc, DHL Group, DB Schenker, A.P. Moller – Maersk, Logistics Plus Inc., GEODIS, CEVA Logistics, FX INTERNATIONAL, BDP INTERNATIONAL, Burris Logistics, C.H. Robinson Worldwide, Inc, DSV, Kuehne+Nagel, Nippon Express, YUSEN LOGISTICS CO., LTD, and Others.
Report scope
Global logistics services (3PL and 4 PL) Market : Historical Years- 2018-2021
Global logistics services (3PL and 4 PL) Market: Forecast Years- 2022-2030
Global logistics services (3PL and 4 PL) Market : CAGR- 6.8%
Key segments covered-
• By type (Dedicated Contract Carriage (DCC)/Freight Forwarding, Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing & Distribution (W&D), Value Added Logistics Services (VALs), Freight Sourcing, Airways, and others).
• By mode of transportation (airways, waterways, railways, roadways, and others).
• By end-user industry (automotive, healthcare, food and beverages, consumer electronics, retail and consumer goods, industrial manufacturing, oil and gas, and others)
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Major regions and countries reported-
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Argentina, and Colombia)
• Europe (Germany, U.K., France, Italy, Spain, and Russia)
• Middle East & Africa (UAE, Saudi Arabia, Egypt, and South Africa)
• Asia Pacific (China, Japan, India, Australia, South Korea, and ASEAN)
Top players profiled- Allyn International Services, Inc, United Parcel Service of America, Inc, GEFCO, XPO Logistics, Inc, DHL Group, DB Schenker, A.P. Moller – Maersk, Logistics Plus Inc., GEODIS, CEVA Logistics, FX INTERNATIONAL, BDP INTERNATIONAL, Burris Logistics, C.H. Robinson Worldwide, Inc, DSV, Kuehne+Nagel, Nippon Express, YUSEN LOGISTICS CO., LTD, and Others.
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