Third Party Logistics Market Forecast to 2030 - COVID-19 Impact and Analysis by Service Type (Dedicated Contract Carriage (DCC), Domestic Transportation Management, International Transportation Management, Warehousing & Distribution, and Others); Mode of Transportation (Railways, Roadways, Waterways, and Airways); Industry (Technological, Automotive, Retailing, Elements, Food & Groceries, Healthcare, and Others);End User (Automotive, Healthcare, Retail, and Consumer Goods); and Geography
Third Party Logistics Market
Third-Party Logistics is the method by which a manufacturer outsources activities related to logistics and distribution. A third-party company can provide dedicated services such as inventory management, door-to-door delivery, cross-docking, and packaging of products. The market for 3PL service is expected to see significant growth, because of the development of the e-commerce industry. Moreover, the demand for this service is anticipated to escalate shortly, as the increase in focus of manufacturers and retailers on their core business (known as core competencies) and subcontracting activities, such as logistics where they have to require more expertise. Thus, an increase in competition has diverted the focus of manufacturers to promote respective specializations in production and distribution. Furthermore, growth in globalization has helped in setting up a worldwide network of manufacturing activities. To maintain it efficiently, the demand for 3PL services is expected to rise. Moreover, the scope of 3PL services is expected to grow during the forecast period, as productivity gains in the supply chain in terms of cost and reliability can be derived with the help of managerial and information technology expertise provided by third-party logistics companies.
Third Party Logistics Market Overview
The Third Party Logistics market provides an in-depth analysis of segments and sub-segments, region, and country analysis of the overall growth prospects in the market. The report offers a complete overview of the industry, including both qualitative and quantitative information. The third party logistics market report covers a complete analysis and provides market size and forecast estimation from the year 2017 to 2030 based on various segments and sub-segments with respect to four major regions, including North America, Europe, Asia-Pacific (APAC), Latin America & Middle East and Africa (LAMEA). The research report highlights underlying factors such as the drivers, restraints, opportunities, and trends of the Third Party Logistics market over the long as well as short period of time. Furthermore, the Third Party Logistics market report offers PEST analysis, NOISE analysis, improvement Venn diagram, brand recall, perceptual mapping, ecosystem/value chain analysis, Porter’s five forces analysis, and investment pocket analysis with respect to the market. By examining the data collected from primary and secondary methods, the report offers actionable insights into future growth based on inputs from industry experts to help readers formulate effective strategies. This information can help stakeholders to make appropriate decisions before investing.
Third Party Logistics Market Insights
The market study offers a complete overview of leading companies and their successful marketing strategies and market contribution, such as business overview, financial information, SWOT analysis, and key strategies, such as recent developments, market expansion, partnership, merger & acquisitions, product launch, product update, and other contexts. Players operating in the Third Party Logistics market mainly focus on the adoption of various strategies to expand their footprint across the world and take the initiative for the development of innovative, efficient, and advanced products.
Market mapping or perceptual mapping is the graphical representation of where a brand, product, or service stands among competitors. Market mapping analysis helps to understand the client how their customers perceive their product offering with their competitors for the third party logistics market. By identifying their current products and competitor products on the market map, the business can fill an identified gap to compete with the competition actively.
COVID-19 Impact on Third Party Logistics Market
The COVID-19 pandemic has largely impacted globally since December 2019. According to the World Health Organization (WHO) report, the US, India, Russia, Brazil, Italy, France, Argentina, Spain, Colombia, the UK, Germany, and Mexico are some of the worst affected countries due to the COVID-19. The pandemic is hampering the growth of economies worldwide, and it is likely to continue in 2021. The outbreak disrupts various industries, such as manufacturing, construction, automotive, textiles, chemicals, cosmetics, tourism, hospitality, consumer goods, transportation, IT and telecom, pharmaceutical, and among others. This results in several obstacles in the supply chain, resulting in demand-supply gaps. This scenario is expected to have a large impact on the Third Party Logistics market.
With Corona Virus Disease 2019 (COVID-19) pandemic, the world is fighting against Covid-19 pandemic and also economic pandemic, almost impacting trillions of dollars of revenues. Our company brings a high-level insight as well as very deep insights relevant to several promising markets. The study will cover:
· Rapid shifts in top 100 companies across each sector
· Growth and decline in each sector due to the COVID-19 pandemic
Third Party Logistics Market Segmentation
Third Party Logistics Market – by Service Type
· Dedicated Contract Carriage (DCC)
· Domestic Transportation Management,
· International Transportation Management
· Warehousing & Distribution
Third Party Logistics Market – by Mode of Transportation
Third Party Logistics Market – by Industry
· Food & Groceries
Third Party Logistics Market – by End-user
· Consumer Goods
Third Party Logistics Market – by Geography
· North America
o Rest of Europe
· Asia-Pacific (APAC)
o South Korea
o Rest of APAC
o Latin America
o Middle East
1. BDP International
2. C.H. Robinson Worldwide Inc.
3. CEVA Logistics
4. DB Schenker Logistics
5. DHL International GMBH
7. FedEx Corporation
8. J.B. Hunt Transport, Inc.
9. KUEHNE+NAGEL Inc.
11. Nippon Express
12. United Parcel Service of America, Inc
13. Union Pacific Railroad
14. United Parcel Service.
15. Panalpina World Transport Ltd.
Brand awareness is the methodology by which customers are able to recall or recognize a brand (unaided/aided) under several different conditions with respect to the market. These strategies will help the company make people more aware of your brand, especially by targeting relevant, high-quality audiences for the third party logistics market.
Key Questions Answered
· Which region provides more business opportunities for the Third Party Logistics market in the upcoming years?
· Who is the leading overall third party logistics market, and what strategies have been adopted by them?
· Which segment accounted for the largest third party logistics market share?
· What are the upcoming trends in the Third Party Logistics market? What impact would these trends make in the coming years for the third party logistics market?
· Which player offering the best product range for the Third Party Logistics market?
Key Benefits for Stakeholders
· This study presents the analytical description of the third party logistics market analysis along with the current trends and future estimations to describe coming up investment pockets
· The complete third party logistics market opportunity is resolute by knowing profitable trends to gain a stronger foothold
· The report describes insights associated with key drivers, restraints, opportunities, and trends of the Third Party Logistics market with thorough impact analysis
· The Third Party Logistics market is quantitatively analyzed from 2017 to 2030 to focus on the monetary ability
· PEST analysis defines the potency of the consumers and suppliers in the Third Party Logistics market
· Porter’s five forces analysis examines the five forces that make a competitive company while identifying its strength and weakness. The analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the Third Party Logistics market
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