Latest News- 3PL Market in Egypt: Transportation is expected to lead the Service segment during 2024-2028
The 3PL Market in Egypt is being driven by Increase in maritime transportation
The 3PL Market in Egypt is expected to grow at a CAGR of 8.1% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1250.4 billion. Egypt's logistics and transportation sectors hold significant potential for growth, given the country's strategic location between Europe, the Middle East, and Asia. The surge in population and increasing automobile numbers in Egypt, particularly in Cairo, have led to traffic congestion, necessitating the need for efficient logistics solutions. The Egyptian government's initiatives to reduce traffic and transform Egypt into a global logistics hub are attracting foreign investment. These efforts aim to capitalize on the high demand for logistics and warehousing services resulting from the robust regional trade. The government's broader strategy to stimulate economic growth and attract investment is expected to drive market expansion during the forecast period.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Service (Transportation, Warehousing and distribution, Others) End-user (Manufacturing, Retail, Consumer goods, Healthcare, Others) Geography (Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in 3PL Market in Egypt Research Report
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In Egypt's burgeoning 3PL market, e-commerce is a significant driver, necessitating just-in-time delivery and last-mile solutions. Fourth-party logistics (4PL) providers play a crucial role in implementing effective logistics strategies, overseeing inventory management and in-house logistics. International transportation via roadways and airways is common, with logistics service providers offering freight and forwarding, warehousing, and value-added services. Digital solutions streamline warehouse management, inventory operations, order fulfillment, and shipping services, mitigating supply chain disruptions. Cross-docking and shipping solutions complete the comprehensive logistics offerings.
The Egyptian 3PL market is a significant segment of the global air freight and logistics industry, which encompasses revenues generated by providers of air freight transportation, courier services, and comprehensive logistics solutions, including last-mile delivery, inventory management, and customs agents. According to Technavio, the global air freight and logistics market is driven by the surge in cross-border e-commerce activities, necessitating just-in-time delivery and efficient logistics strategies. Fourth-party logistics (4PL) providers play a pivotal role in optimizing supply chain management and ensuring seamless integration of various logistics services. The market's growth is further fueled by the increasing adoption of advanced technologies such as automation, IoT, and AI, enhancing inventory management and streamlining operations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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