A new market study, titled “Global Logistics Services (3PL&4PL) Market By Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
PUNE, MAHARASHTRA, INDIA, December 13, 2019 /EINPresswire.com/ —
Logistics Services (3PL&4PL) Market – 2018-2026
Logistics Services (3PL&4PL) Industry Overview:
In a business process, logistics is defined as the management of the flow of materials between the point of origin and the point of consumption. Logistics management is a part of the supply chain of an organization. The whole supply chain is standing on the concept of trade-offs between cost and effectiveness. The logistics services should be designed in such a way that it will deliver value to customers in terms of timely delivery and lower cost. The global Logistics Services (3PL&4PL) market was valued at US$ 9,151 million in the year 2018 and is expected to reach nearly US$ 11,117 million by the year 2023, growing at a CAGR of approximately 3.1%.
A third party logistics (3PL) provider offer logistics services which include freight forwarding, inventory storage & distribution, shipping or distribution of materials, IT solutions, and others. A 3PL service can be a single provider or it can be an integrated system with a wide bundle of services, which is capable of managing the supply chain of a company. The benefits of using 3PL service are, cost saving and increasing focus on the core competency of an organization. However, it is having a less control over the own inventory and trust issues which is curtailing the growth of the 3PL services.
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Top Key Players Of Logistics Services (3PL&4PL) Industry:
DHL Supply Chain & Global Forwarding
Kuehne + Nagel
DB Schenker Logistics
C.H. Robinson Worldwide
UPS Supply Chain Solutions
Expeditors International of Washington
J.B. Hunt (JBI, DCS & ICS)
Hitachi Transport System
Scope of the Report
A fourth party logistics (4PL) provider is a supply chain integrator which gathers and manages all capabilities, resources, and technology of a company’s supply chain. An experienced and dependable 4PL provider will deliver value with an approach of reengineering of supply chain to the organization. The 4PL provider signs a centralized contract with the client to carry out all the responsibilities for the performance of logistics functions of an organization.
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Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component
There are many factors that defines the logistic service success in today’s competitive environment. customer centric services and adoption of newer technology are key aspect to today’s business flourishment. Majority of the companies are focusing on enhancing the business reach through better engagement with clients through various means of communication. In addition, companies mainly focus on trimming the duration of the delivery timelines so as to be counted as a reliable and trusted company. In the last few years, many companies have entered in merger and acquisition so as to boost the presence worldwide and harness the already existing technology. This is quite true when it comes to acquisition of Asia based companies, since the region offers highest trade influx and slowly the market is shifting towards South Asia. Over 35 merger and acquisition was noticed in the logistic services in 2018.
On the basis of mode of transportation, the global logistics services market is segmented into road, waterways, rail and air. Among these, road transport accounted for the largest domestic services, while waterways was the preferred means of logistic transportation for international shipment. This will remain same, while airways will slowly gain higher industry traction.
By end-use, the global logistics services market is segmented into manufacturing, retail, trade and transportation, government and public, utilities, healthcare, media, BFSI, IT and telecommunications. According to the research conducted, retail segment accounted for 28.3% of market share in 2018. This will continue to be the same with minor deflection in market share by 2023.
Regionally, Asia Pacific accounted for 39% share in 2018. Highest trade flow was seen across China and rest of the world. Presence of large number of retail and manufacturing companies has created favorable business system in the region. Moreover, the region is known to have the largest population base. China and India are the key region in the market. North America and Europe stands next to Asia Pacific. Companies based in Europe and North America mainly focuses on technological upgradation and acquiring prospective companies based in Asia. In order to minimize, the overhead costs, companies are adopting newer technologies such as drone based delivery and robot assisted inventory management. Adoption of these technology will help companies to stay agile and generate huge profits in coming years.
Some of the key player covered in the report are DHL, DSV, Kuehne & Nagel, DB Schenker Logistics, Sinotrans, CH Robinson Worldwide, CEVA Logistics, UPS Supply Chain Solutions, and Hitachi Transport Systems. Few new entrants have also emerged in the market that primarily focuses on ecommerce segment. Startups are backed with investors having innovative ideas. Proliferation of such companies will lead to intense competition in coming years.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics Supply and demand
Market size Current trends/opportunities/challenges
Value chain and stakeholder analysis
Table of Content: Logistics Services (3PL&4PL) Market 2026
1 Study Coverage
2 Executive Summary
3 Breakdown Data by Manufacturers
4 Breakdown Data by Type
5 Breakdown Data by Application
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Source: EIN Presswire