The global third-party logistics market size is anticipated to reach around US$ 1710.58 Bn by 2027 with a CAGR of 8.3%, according to new study.
The main objective of this report is to define, describe, and forecast the global market by types, application, manufacturers, and regions. The report provides detailed information about the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the market. The report aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the global market. The report also attempts to forecast the market size of the 5 main regions: North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It strategically profiles the key market players and comprehensively analyzes their core competencies. It also tracks and analyzes the competitive developments, such as joint ventures, mergers and acquisitions, new developments, and Research and Development (R&D) activities, in market.
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Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 100 countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the third-party logistics market in 2020.
COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
- North America dominated the global third-party logistics market in 2020 and expected to grow at a steady rate owing to rising demand for cold storage in the region
- The Asia Pacific anticipated to witness the highest growth rate over the forecast period due to increasing industrialization and manufacturing businesses in the region
- By service, Domestic Transportation Management (DTM) led the global third-party logistics market in 2020 with a revenue share of around 30.3%
- Roadways segment captured major revenue share of the global market because of rapid development in the logistics infrastructure
- Airways expected to be the fastest growing transportation segment owing to need for fast and cost-effective delivery services
- In terms of end-use, manufacturing segment captured major revenue share of nearly 25.5% owing to shifting of companies to supply chain outsourcing rather than maintaining in-house supply chain
- Retail segment anticipated flourishing growth over the upcoming years because of rapid growth of retail businesses
Major highlights of Report:
- Figures related to sales volume, market remuneration, and segmental shares
- Featuring market dynamics
- Growth prospects and expansion graph
- PROCON study of direct & indirect sales channels
- Profiles of prominent traders, dealer, and distributors in the industry
Geographical landscape: North America, Europe, Asia-Pacific, South America, Middle East and Africa
- Industry forecasts based on region and at country level
- Data about sales volume recorded, industry share held, and profit margins amassed
- Overall remuneration and estimated growth rate for each regional market
Some of the prominent players in the third-party logistics market include:
- Burris Logistics
- CEVA Logistics
- C.H. Robinson Worldwide (CHRW) Inc.
- DB Schenker Logistics
- FedEx Corporation
- BDP International
- UPS Supply Chain Solutions, Inc.
- Kuehne + Nagel International AG
- J.B. Hunt Transport Services, Inc.
- Nippon Express Co., Ltd.
- XPO Logistics, Inc
- Domestic Transportation Management (DTM)
- International Transportation Management (ITM)
- Dedicated Contract Carriage (DCC)/ Freight forwarding
- Value-Added Logistics Services (VALs)
- Warehousing & Distribution (W&D)
- North America
- Asia Pacific
- South Korea
- Rest of the World
- North America
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the third-party logistics market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the third-party logistics market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Third-party logistics market.
Market Segments: This part of the report discusses about product, application and other segments of the third-party logistics market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
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