The Third-party Logistics Market size was valued at USD 1034 Million in 2022 and the total Third-party Logistics Market is expected to grow at a CAGR of 10.45% from 2023 to 2029, reaching nearly USD 2290 Million.

Third-party Logistics Market Scope and Research Methodology

This Third-party Logistics Market research report provides a comprehensive view of competition, including market share and profiles of major industry rivals worldwide. The study delves into various sectors to examine the factors that influence the industrys growth.

The top-down and bottom-up approaches are used to validate and estimate market size by segment. Third-party Logistics Market estimates are based on sale prices, with weights applied to usage rate and average sale price to produce percentage splits, market shares, and segment breakdowns. The geographical divisions are based on the adoption or usage percentage of the market size in each area.

Third-party Logistics Market Drivers :

The growth of e-commerce in North America has been significant in recent years and has contributed to the increased demand for third-party Logistics services in the region. According to MMR research study, e-commerce sales in North America amounted to $791.7 billion in 2020 and is expected to reach $1.15 trillion by 2023. This growth has created a greater need for logistics services, particularly in the areas of warehousing, fulfilment, and last-mile delivery. With more consumers shopping online, there is a greater demand for warehousing facilities to store and manage inventory. Third-party Logistics providers are responding by building more warehouses and distribution centers, often located closer to urban areas for faster delivery times. Fulfilment is another area where Third-party Logistics providers are playing a key role in the e-commerce industry. As online retailers face increasing pressure to deliver goods quickly and efficiently, many are outsourcing their fulfilment operations to third-party Logistics providers. These providers are able to handle the entire fulfillment process, from receiving orders to picking and packing items to shipping them to customers. Finally, last-mile delivery is a critical component of the e-commerce supply chain. With more consumers shopping online, there is a greater need for fast, reliable delivery options. Third-party Logistics market players are responding by investing in technology and infrastructure to improve their last-mile delivery capabilities, including the use of drones, autonomous vehicles, and other innovative solutions. The growth of e-commerce in North America has been a major driver of the Third-party Logistics industry in the region, creating new opportunities for providers to offer a wide range of logistics services to online retailers and other businesses.

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Third-party Logistics Market Segmentation Analysis:

Based on Formulation, the Tablets Supplements segment held the largest market share of  the Market in 2023. According to the MMR analysis,  It stands out as the dominant segment in Market thanks to its rapid technological advancement and growing adoption of smart devices with data connectivity and integration.

by End Use

Manufacturing
Automotive

by Service

DTM
ITM
VALs

by Transport

Roadways
Airways

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Key players include Third-party Logistics Industry :

DHL Supply Chain & Global Forwarding
Kuehne + Nagel International AG
C.H. Robinson Worldwide, Inc.
DB Schenker
UPS Supply Chain Solutions
Nippon Express Co., Ltd.
XPO Logistics, Inc.
Sinotrans Limited
CEVA Logistics
Expeditors International of Washington, Inc.
DSV Panalpina A/S
Geodis
J.B. Hunt Transport Services, Inc.
Ryder System, Inc.
Agility

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Key Questions Answered in the Third-party Logistics Market Report are:

• Which segment asserted the greatest market share in 2024 for Third-party Logistics ?
  How does the competitive landscape unfold within the Third-party Logistics market?
  What pivotal factors steer the growth trajectory of the Third-party Logistics market?
  In the realm of the Third-party Logistics market, which region commands the most significant market share?
  What is the anticipated Compound Annual Growth Rate (CAGR) for the Third-party Logistics market during the forecast period (2024-2030)?

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