Latest News- Third-Party Logistics (3PL) Market: Transportation services is expected to lead the Application segment during 2025-2029

The Third-Party Logistics (3PL) Market is being driven by Growth of e-commerce and need for integrated shipping services

The Third-Party Logistics (3PL) Market is expected to grow at a CAGR of 8.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 662.8 billion. In the dynamic and competitive landscape of the Third-Party Logistics (3PL) market, companies and shippers are utilizing big data analytics to extract valuable insights from voluminous data sets. By implementing advanced analytics solutions, logistics providers can derive actionable intelligence to enhance operational efficiency, improve customer experience, and explore new business models. Big data analytics empowers strategic initiatives such as customized services, expedited market response, and agile business models. Additionally, it optimizes core activities including resource utilization, delivery time, and geographical coverage. Despite the potential benefits, the application of big data analytics in logistics is still in its infancy due to prevailing IT infrastructure challenges. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Transportation services
  • Warehousing and distribution services
  • Others
• End-user
  • Manufacturing
  • Retail
  • Consumer goods
  • Healthcare
  • Others
• Mode Of Transportation
  • Roadways
  • Seaways
  • Railways
  • Airways
  • Multimodal transport
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • 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: 

• Growth of e-commerce and need for integrated shipping services
• Increasing number of trade agreements among nations
• Cost reduction through use of third-party logistics

However, the market also witnesses some limitations, which are as follows:

• High operational cost and competitive pricing
• Warehouse shortage
• Shortage of skilled warehouse and logistics labor

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Market Scope in Third-Party Logistics (3PL) Market Research Report

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Research Analysis Overview

Third-party logistics providers, also known as logistics service providers, offer 3PL solutions through logistics outsourcing, enhancing supply chain optimization and visibility in global logistics networks. Multimodal transportation, integrated logistics, and digital logistics are key offerings, utilizing advanced logistics technology and supply chain technology for innovation. Disruptive technologies like automated warehousing, autonomous vehicles, big data analytics, and predictive analytics ensure supply chain resilience and efficiency. E-commerce fulfillment, last mile logistics, home delivery, and delivery management prioritize customer experience, delivery speed, reliability, and accuracy, while logistics cost reduction remains a significant focus.

Market Research Overview

The third-party logistics (3PL) market encompasses revenue generated by companies offering inventory management, order management, supply chain management, freight forwarding, and logistics solutions. According to Technavio, the global air freight and logistics market size is determined by the earnings of providers in the air freight and logistics sector, which includes the tracking of goods from origin to delivery. Key growth drivers for this market include the surge in cross-border e-commerce activities, facilitating seamless transactions between buyers and sellers across international borders.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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Website: www.technavio.com/