The 3PL services market is projected to grow at a CAGR of 4.93% between 2025 to 2030.
A Third-Party Logistics (3PL) service provider offers outsourced logistics services to the manufacturers to help them focus on their core business. 3PL service is known to provide the optimized cost of transportation services efficiently and timely. The market is expected to grow due to the company's global set up which necessitates the need for 3PL service providers. Increasing the adoption of IT applications and services, the vendors are enhancing their system of distribution to give quality services to their users is anticipated to create new opportunities in the growth of the market.
The reduction in shipping freight along with the development of e-commerce is expected to drive the market. However, inconsistent freight volume along with cost and risks regarding contamination, spillage, and theft, among others, is expected to hinder the market growth. The market is segmented by transport mode, service type, end-user, and geography. Based on service type, domestic transportation management is expected to hold a significant share in the market due to the increasing demand for efficient logistics operations. Geographically, North America is projected to be a substantial shareholder in the market owing to its technological innovation and investment in logistics software along with a reduction in the cost of transportation and labor.
Growing trading activated due to globalization.
Growing e-commerce industry and need for reverse logistics operations.
High cost and risks during shipment.
In July 2019, UPS Supply chain Solution Inc. expanded its express freight delivery services in Russia.
In March 2019, C.H Robinson Worldwide Inc. acquired The Space Cargo group for US$48 million to expand its global presence.
The major players profiled in the 3PL services market are J.B. Hunt Inc.[1], Allcargo Logistics Ltd., UPS Supply Chain Solutions Inc., Container Corporation of India Ltd., PenskeLogistics Inc., C.H Robinson Worldwide Inc., Transportation Corporation of India ltd., FedEx Corporation, DHL, Kuehne+Nagel Inc., Maersk Logistics, NYK Logistics, and DB Schenker.
| Report Metric | Details |
|---|---|
| Forecast Unit | BIllion |
| Growth Rate | 4.93% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Segmentation | Transportation Mode, Service Type, End-User Industry, Geography |
| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies |
|