Third Party Logistics Market Report 2019 Foresees the Market to reach USD 1584.5 MN by 2027
Posted On January 21, 2021
The report by Value Market Research on the Global Third Party Logistics Market anticipates the market growth to reach CAGR of 8.5% during 2020-2027. The market is expected to reach USD 1584.5 MN by 2027. Third-party logistics is a service used by companies to improve their logistics and supply chain management systems. Globalization and dynamic market conditions are the critical drivers for the growth of this market. The tremendous growth of the e-commerce market and changing customer patterns due to rapid digitization will significantly improve the market growth. The emerging demand for third party logistics in shipping, warehousing, or financial and logistical analysis of an organization, can tremendously benefit the market's growth. Preference for reliable, fast, and free shipping services by consumers will be a market booster. This market's main challenges are loss of control over a customer and interoperability issues, especially while utilizing IT services from a third party.
Third-party logistics is a service where the operational logistics of a warehouse is outsourced to a third party. The primary services offered by third-party logistics providers are procurement, order fulfillment, storage, and transportation. Other supplementary services include IT systems integration, inventory management, data exchange, reporting, and reverse logistics. The various services offered are carefully documented and explained through contracts, agreements, and service level agreements (SLAs). The scope, duration, cost, and other vital aspects of any service offered are enclosed in the document. This service can be very beneficial for an organization in terms of price, scalability, streamlined operations, leveraged expertise, vast network, and even better for the environment.
The report “Global Third Party Logistics Market Report By Service (Dedicated Contract Carriage (DCC)/Freight Forwarding, Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing & Distribution (W&D), Value-Added Logistics Services (VALs), By Transport (Roadways, Railways, Waterways, Airways), By End-Use (Manufacturing, Retail, Healthcare, Automotive, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2020-2027" covers the market introduction, key market statistics followed by in-depth regional revenue/or volume analysis. The report analyses the trends of the past years along with deeply studying the geo-political trends, thus authenticating the findings of the research and making it more reliable.
On the basis of service the market is segmented into Dedicated Contract Carriage (DCC)/Freight forwarding, Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing & Distribution (W&D), Value-Added Logistics Services (VALs). By transport the third party logistics market is categorised as Roadways, Railways, Waterways, Airways. By end-use the third party logistics market is categorised as Manufacturing, Retail, Healthcare, Automotive, Others. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are the regions covered in the report. This geographical section of the report highlights the share of the revenue/volume spread globally.
The Report Segments Global Third Party Logistics Market -
- Dedicated Contract Carriage (DCC)/Freight forwarding
- Domestic Transportation Management (DTM)
- International Transportation Management (ITM)
- Warehousing & Distribution (W&D)
- Value-Added Logistics Services (VALs)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Players Profiled In the Report:
C.H. Robinson Worldwide (CHRW) Inc., XPO Logistics, Inc., UPS Supply Chain Solutions Inc, and others.
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