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The third party logistics market was valued at US$ 1273.1 billion in 2022 and is projected to reach US$ 1929.18 billion by 2030; it is expected to register a CAGR of 5.33% during 2022–2030.
The growing proliferation of e-commerce is likely to remain a key trend in the market.
Third Party Logistics Market Analysis
The rise of e-commerce and the desire for same-day or next-day delivery propel demand for last-mile delivery services. For example, Amazon's Prime service has set new standards for fast delivery, prompting 3PLs to adapt their services to meet these expectations. Growing consciousness of environmental issues and sustainability has led to increased demand for eco-friendly logistics solutions. 3PL providers are adopting electric vehicles, optimizing routes to reduce emissions, and implementing sustainable packaging practices to align with consumer and regulatory expectations.
Third Party Logistics Market Overview
Transportation of manufactured goods from the factories to the warehouses is the first stage in the overall 3PL process. The 3PL business stores the product once it arrives at the warehouse or fulfillment center. The products are stored in accordance with their SKU, with each SKU having its own allocated storage place. Items entering the warehouse are normally entered into the provider's tracking system at this point. Software integration helps in efficient and effective processes.
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Third Party Logistics Market: Strategic Insights
Market Size Value in US$ 1273.1 billion in 2022 Market Size Value by US$ 1929.18 billion by 2030 Growth rate CAGR of 5.33% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Third Party Logistics Market: Strategic Insights
| Market Size Value in | US$ 1273.1 billion in 2022 |
| Market Size Value by | US$ 1929.18 billion by 2030 |
| Growth rate | CAGR of 5.33% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Third Party Logistics Market Drivers and Opportunities
Benefits of Managing Seasonal Variations of Products to Favor Market
Third-party logistics firms have expanded resource networks that support prime companies enlarge efficiently in a cost-effective way. In addition, third-party logistics firms can deliver sufficient resources and elasticity in services for seasonal inventory or novel product releases. Many establishments experience seasonal variations in customer inclinations, and it becomes key to manage such swings to maintain effectiveness and meet the demand.
Application of Software Solutions and Adoption of Big Data Analytics
The adoption of RFID-enabled devices is also expected to store data for easy transport that will also simplify tracking and identification of products. Software related to transportation management systems will reduce inefficiency and costs. Furthermore, the usage of speech recognition software in warehouse management system communications will help with order turnaround and inventory records while lowering employee training needs. Along with this, the acceptance of cloud-based technology in third-party logistics organizations will respond to demands by recognizing the need for client access, allowing them to address seasonal trends better.
Third Party Logistics Market Report Segmentation Analysis
Key segments that contributed to the derivation of the third party logistics market analysis are mode of transports, services and end users.
- Based on the mode of transports, the third party logistics market is divided into roadways, railways, waterways and airways. The roadways segment held a larger market share in 2023.
- Based on the services, the third party logistics market is divided into international transportation, warehousing, domestic transportation, inventory management, and others. The domestic transportation segment held a larger market share in 2023.
- Based on the end users, the third party logistics market is divided into automotive, healthcare, retail, consumer goods, and others. The others segment held a larger market share in 2023.
Third Party Logistics Market Share Analysis by Geography
The geographic scope of the third party logistics market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The scope of the third party logistics market report encompasses North America (the US, Canada, and Mexico), Europe (Russia, the UK, France, Germany, Italy, and the Rest of Europe), Asia Pacific (South Korea, India, Australia, Japan, China, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Argentina, Brazil, and the Rest of South & Central America). In terms of revenue, Asia Pacific dominated the third party logistics market share in 2023. Europe is the second-largest contributor to the global third party logistics market, followed by North America.
Third Party Logistics Market Report Scope
Third Party Logistics Market News and Recent Developments
The Third Party Logistics Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the third party logistics market are listed below:
- DB Schenker, one of the world’s leading logistics service providers, and USA Truck, a leading capacity solutions provider, stated an agreement under which DB Schenker will acquire all outstanding shares of USA Truck common stock for $31.72 per share in cash. The transaction costs USA Truck approximately $435 million, including assumed cash and debt. (Source: DB Schenker, Press Release, July 2022)
- Deutsche Post DHL Group, the world's leading logistics company, declared today that it is changing the name of the company to "DHL Group" on July 1, 2023. The new name reflects the transformation the Group has gone through in the past years and pays tribute to the focus on its national and international logistics activities as a driver for future growth. (Source DHL Group, Press Release, July 2023)
Third Party Logistics Market Report Coverage and Deliverables
The “Third Party Logistics Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
- Third party logistics market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Third party logistics market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Third party logistics market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the third party logistics market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Mode of transports, Services, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Asia Pacific dominated the third party logistics market in 2022.
The investment in research & development by manufacturers is the future trend of the third party logistics market.
US$ 1929.18 billion estimated value of the third party logistics market by 2030.
6.6% is the expected CAGR of the third party logistics market.
DHL Group, Kuehne + Nagel International AG, DB Schenker, C.H. Robinson Worldwide Inc., DSV AS, Sinotrans Ltd., Giodis SA, United Parcel Service Inc., XPO Inc., Torello Transpoti Srl are some of the leading players in the market.
The List of Additional Companies - Third party logistics market
- CEVA Logistics
- FedEx
- Expeditors
- SF Logistics
- Maersk Logistics
- Kintetsu World Express
- Yusen Logistics
- Toll Group
- Hellmann Worldwide Logistics
- Penske Logistics
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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