[Market Research Report] Global Third-Party Logistics (3PL) Market
Report ID: AA0623455
The global third-party logistics (3PL) market is expected to reach $2.8 trillion by 2031.
The global third-party logistics (3PL) market, which reached a milestone of $1.3 trillion in 2021, is expected to reach $2.8 trillion by 2031. This growth trajectory indicates a compound annual growth rate (CAGR) of 8.8% from 2022 to 2031. Factors driving the growth of the 3PL market include technological advancements, growth in the automotive industry, increased last-mile connectivity, and a surge in cross-border trade activities. For example, the Indian government recently launched a multimodal logistics park policy and a national logistics portal to strengthen its logistics sector. Additionally, India's Minister of Commerce and Industry announced a massive investment of $500 billion in the logistics sector by 2025. Despite the dynamic growth of the market, challenges such as manufacturers' lack of control over logistics services, poor infrastructure, and high logistics costs could hinder progress. However, the increasing adoption of IT solutions and software, along with rising demand for consumer electronics, presents new opportunities for market participants.
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Main Market Segments Transport Modes: Rail Road Waterway Air Service Types: Dedicated Contract Carriage (DCC) Domestic Transportation Management International Transportation Management Warehousing and Transportation Others Industries: Technology Automotive Retail Elements Food and Beverage Healthcare Others Regions: North America Europe Asia-Pacific South America Middle East and Africa Key Market Players: C.H. Robinson Worldwide, Inc. db schenker DSV Geodis Kuehne+Nagel Inc. FedEx Corporation XPO Logistics Inc. United Parcel Service of America, Inc. A.P. Moller - Maersk DHL International GmbH
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