Logistics Service Market Estimated to Observe Significant Growth During - 2027

Logistics Service Market revenue accounted for US$ 1,122.58 Bn in 2018 and is expected to grow at a CAGR of 6.9% during the forecast period 2019 – 2027, to account to US$ 2,029.38 Bn by 2027. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.

In North America, the development of logistics services was majorly influenced by the factors such as time, cost, increased internationalization, competition, virtual organization, and high consumer awareness. Some of the major logistics services providers in North America include DHL Supply Chain North America, XPO Logistics, Ryder Supply Chain Solutions, GEODIS North America, and Americold. Amongst them, in 2017, DHL Supply Chain North America had 673 warehouses with 119 Bn square feet capacity. However, it is found that, the leading logistics services providers in North America has to deal with overcapacity and underutilization of their physical and human resources.
Top Leading Market Players:

1. CEVA Logistics
2. PANALPINA WORLD TRANSPORT (HOLDING) LTD.
3. United Parcel Service (UPS)
4. C.H. Robinson Worldwide, Inc.
5. A.P. MOLLER - MAERSK
6. Nippon Express
7. FedEx
8. DB Schenker
9. DHL International GmbH
10. KUEHNE + NAGEL

Moreover, the growing e-commerce industry of the region is also flourishing thus, propelling the growth of logistics. According to the World Bank, the North American logistics sector is highly developed scoring 3.89 in the LPI index of 2018. The highly developed logistics sector of the region further allows logistics services market to flourish. With the blooming e-commerce industry in the U.S., DHL recently announced its plans to open innovation center near Chicago dedicated for the development of new tools to help handle the acceleration in e-commerce demand. In 2017, XPO Logistics expanded its ten year partnership with Sealed Air Corporation with a new multi-year contract through the rollout of a North American-based integrated warehousing and logistics management program. Also, with the blooming e-commerce market, the market is anticipated to gain momentum.

Globally, the various leading provider of logistics service provides a broad range of customized as well as end-to-end logistics solutions for different end-user industries. As a result, based on logistics provider, the market is broadly classified into first & second party logistics, third-party logistics, fourth party logistics, and fifth party logistics. Further, based on the mode of transportation, the market is segmented into railways, roadways, airways, and waterways. Whereas, by end-users, the market is divided into government & public utilities, healthcare, industrial manufacturing, retail & consumer goods, aerospace & defense, and others. And finally, by organization size, the market is bifurcated into the small & medium enterprise and large enterprise. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

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Third Party Logistics Market to Rise at Moderate CAGR of 13.5% CAGR Through 2025

According to the new research report published by The Insight Partners, titled “Third Party Logistics Market - Global Analysis and Forecast to 2025”, The global third party logistics market is expected to grow at a CAGR of 13.5% during the forecast period 2018 – 2025, to account to US$1,240 Bn by 2025.

Third party logistics (3PL) is basically the use of an outside company in order to perform the company’s product distribution and materials management functions. 3PL are the companies delivering single or multiple logistics services to a manufacturing company. Though 3PL firms do not hold the ownership of the product for distribution, however they are bound to accomplish the requested logistics activities of the purchasing company.

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3PL is a significant part of today’s supply chain for small and large businesses. These firms provide services such as international & domestic transportation, inventory management, warehousing, distribution, order fulfillment, and freight consolidation. By outsourcing 3PL services, manufacturing companies are able to focus on product development, sales, and other core operations. 3PL offers immediate knowledge & expertise in the field, track on international logistics, and create cost savings.

Some of the major players having significant market share are Deutsche Post DHL Group, Kuehne + Nagel International AG, Nippon Express Co., Ltd., DB Schenker, and C.H. Robinson.
Key findings of the study:

• Asia-Pacific is anticipated to account the largest third party logistics market share.
• Based on the transport, the roadways segment is projected to dominate the third party logistics market.
• Domestic transportation garnered the second largest share in the third party logistics market by services in 2017.
• Retail garnered the second largest share in the third party logistics market by end-user in 2017.
• Based on the customer, the large enterprises segment is projected to dominate the third party logistics market.

Increase in demand for shipping cost reduction & more focus on timely delivery management, reduction on company’s assets & permitting focus on core business, and advantage in managing seasonal variations are projected to drive the market for third party logistics during the forecast period. However, lesser control of manufacturers on logistic service and delivery process may adversely impact the market for third party logistics in near future. Moreover, the factor such as increase in adoption and growth of e-commerce in retail sector is projected to generate remarkable growth opportunity to the industry players.

Geographically, the market is currently dominated by Asia-Pacific and Europe, however the market is expected to be in favor of North America, which is anticipated to witness remarkable growth rate owing to the increase in demand for service integration, data management, and inclination of manufacturers towards more flexible solutions.

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Third party logistic (3PL) firms have diversified resource network which help core companies to expand quickly and efficiently in a cost-effective manner. Depending on the needs of core companies, 3PL possess the capability to scale labor, space, and transportation needs irrespective of the fluctuation in inventory. 3PL firms deliver adequate resources and flexibility in services even in case of seasonal inventory or new product release. Many of the businesses experience seasonal fluctuation in customer demand and it is essential to handle such swings in business in order to maintain efficiency in operations.

3PL helps seasonal businesses to benefit from smoother transition between market lows and highs with utilizing more warehouse space and logistic resources. 3PL service providers manage company’s warehousing, distribution, and fulfillment services that helps company’s resources to manage seasonal swings.

Fourth Party Logistics Industry is Crucial To Your Business.

Worldwide Fourth Party Logistics Market Analysis to 2027 is a specialized and in-depth study of the Fourth Party Logistics Industry with a focus on the global market trend. The report aims to provide an overview of global Fourth Party Logistics Market with detailed market segmentation by product/application and geography. The global Fourth Party Logistics Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status of the Fourth Party Logistics players and offers key trends and opportunities in the market.

Fourth Party Logistics Market accounted to US$ 54.06 Bn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 - 2027, to account to US$ 84.17 Bn by 2027.

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Asia-Pacific was the leading geographic market and it is anticipated to be the highest revenue contributor throughout the forecast period. The huge population, growing disposable incomes, rising domestic consumption and lower costs are some of the factors attributing to the growth of e-commerce sector in countries like China, India, Taiwan, Japan and South Korea, which is further expected to fuel fourth party logistics market in this region.

Top Dominating Key Players:

1. Allyn International
2. UPS 4PL Services
3. Accenture 4PL Services
4. 4PL Insights LLC
5. XPO Logistics
6. Deloitte
7. 4PL Group
8. Logistics Plus 4PL
9. GEODIS
10. Global4PL

Adoptions of Solution Integrator Model

The solution integrator model is known as the core 4PL model. In the solution integrator model, the 4PL providers is engaged in operating and managing a comprehensive end-to-end supply chain solution for a single client. This business model for 4PL leverages the resources, technology, and capabilities of 4PL and complementary service providers for provisioning a comprehensive supply chain solution to deliver value to their customers. Largely, all B2B businesses focus on the solution integrator model for optimizing their supply chains and ensuring the best customer service. Food & beverage, and retail sector customers prefer this type of business relationship with their 4PL service providers. The solution is supposed to grow at the fastest pace during the forecast period in the fourth party logistics market.

Retail and consumer electronics sector moving towards provisioning dynamic logistics

The high-tech consumer electronics and the medical equipment markets today are highly driven by diverse consumer demands coupled with customization features. Strategies such as build-to-order and postponement are often deployed for selling products from the high-tech electronic verticals by many retailers, websites, resellers etc. In many scenarios faced by consumer goods and retail sectors, a customer orders large volumes of products that might be sourced at different locations. These diverse products need to be assembled first, and then need to be shipped to the consumer at the earliest possible timelines. Fulfillment of such demands requires the deployment of a highly sophisticated and Omni-channel supply chain approach by the logistics service provider. This factor is anticipated to provide huge opportunities to the players operating in the fourth party logistics market.

Segment by Type Insights

The global fourth party logistics market by type was led by solution integrator model segment. The other type of fourth party logistics model include Synergy Plus Operating Model and Industry Innovator Model. The industry innovator model comprises of highest complexity and therefore incurs higher costs to the customers, leading to its slow growth over the forecast period in the fourth party logistics market.

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The report segments the global fourth party logistics market as follows:

Global Fourth Party Logistics Market - By Type

• Synergy Plus Operating Model
• Solution Integrator Model
• Industry Innovator Model

Global Fourth Party Logistics Market - By End-User

• Automotive
• Healthcare
• Food and Beverage
• Consumer Electronics
• Aerospace and Defense
• Retail
• Industrial
• Others