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South Korea Third-Party Logistics (3PL) Market Size, Share: By Service: Dedicated Contract Carriage (DCC)/Freight Forwarding, Domestic Transportation Management, International Transportation Management, Warehousing and Distribution, Value Added Logistic Services; By Industry Vertical; Competitive Landscape; 2024-2032
South Korea Third-Party Logistics (3PL) Market Size
The South Korea third-party logistics (3PL) market reached approximately USD 32.9 billion in 2023. The market is projected to grow at a CAGR of 3.90% between 2024 and 2032, reaching a value of around USD 46.83 billion by 2032.
| South Korea Third-Party Logistics (3PL) Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 32.9 |
| Market Size 2032 | USD Billion | 46.8 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 3.9% |
| CAGR 2024-2032 - Market by Service | Value Added Logistics Services | 4.4% |
| CAGR 2024-2032 - Market by Industry Vertical | Consumer and Retail | 4.6% |
| 2023 Market Share by Service | Warehousing and Distribution | 21.6% |
South Korea Third-Party Logistics (3PL) Market Outlook
- As per the industry reports in 2023, South Korea is the fourth largest market of the e-commerce sector worldwide.
- The logistics absorption in Greater Seoul witnessed an increase of 126 per cent in the year 2023 compared to 2020-22.
- CJ Logistics, a third-party logistics provider in South Korea, announced on July 24th, 2023, that it aims to spend around USD 457 million to develop logistics centres in three cities in the United States to enhance its global reach.
South Korea Third-Party Logistics (3PL) Market Growth
The rapid rise in e-commerce, globalisation, and growing demand for cost-saving logistics solutions are some of the major factors boosting the market growth. Several businesses are harnessing third-party services for the efficient handling of large inventories, offering timely deliveries and handling operations during peak periods, saving them resources and time. These companies are also relying on third-party logistics providers to offer their assistance regarding cross-border logistics documentation and customs clearance.
Moreover, third-party logistics often invest in high-end technologies and infrastructure and offer superior service at a lower price compared to companies that are in sourcing their logistics business. It further allows the companies to focus on their core competencies instead of spending their time on non-critical functions such as logistics.
The rising integration of analytics in 3PL operations is one of the key trends boosting the South Korea third-party logistics (3PL) market expansion. These analytic capabilities are geared towards gathering critical insights to improve the operation and generate maximum client satisfaction. These insights can aid the 3PL providers in enhancing end-to-end visibility in their supply chain operations. Furthermore, several market players have implemented last-mile delivery options in their services to gain a competitive edge in the market.
Various 3PL providers in South Korea are incorporating sustainable practices in their supply chain to attract eco-conscious shippers. For instance, practices such as route optimisation can determine the shortest delivery route and reduce the carbon footprint, and the usage of alternative fuel options as well as electric vehicles can minimise the overall emission.
South Korea Third-Party Logistics (3PL) Industry Segmentation
“South Korea Third-Party Logistics (3PL) Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Service
- Dedicated Contract Carriage (DCC)/Freight Forwarding
- Domestic Transportation Management
- International Transportation Management
- Warehousing and Distribution
- Value Added Logistics Services
| CAGR 2024-2032 - Market by | Service |
| Value Added Logistics Services | 4.4% |
| Warehousing and Distribution | 4.2% |
| Dedicated Contract Carriage (DCC)/Freight Forwarding | XX% |
| Domestic Transportation Management | XX% |
| International Transportation Management | XX% |
Market Breakup by Industry Vertical
- Food and Beverage
- Automotive
- Consumer and Retail
- IT Hardware and Telecom
- Healthcare
- Energy
- Others
South Korea Third-Party Logistics (3PL) Market Share
The domestic transportation management (DTM) segment accounts for a significant market share. DTM services are carried out in combination with freight brokers, who handle the origin to destination of shipments. The DTM segment is growing as a result of increased fuel surcharges, rising carrier costs, an increase in cross-docking services, and an increase in trade movement from the unloading dock to a warehouse. The industry is further expanding owing to rising consumer demand in industries like healthcare and retail as well as consistent GDP expansion across South Korea.
Leading Companies in South Korea Third-Party Logistics (3PL) Market
The key players are expanding their operations in the country to increase their market reach.
- Deutsche Post AG
- Nippon Express Co., Ltd.
- United Parcel Service of America, Inc.
- C.H. Robinson Worldwide, Inc.
- Yusen Logistics Co., Ltd.
- FedEx Corp.
- Schenker AG
- DSV A/S
- CJ Logistics Corporation
- LX Pantos Co., Ltd.
- Jupiter Express Co.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Service |
|
| Breakup by Industry Vertical |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Third-Party Logistics (3PL) Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Third-Party Logistics (3PL) Historical Market (2018-2023)
8.3 Asia Pacific Third-Party Logistics (3PL) Market Forecast (2024-2032)
9 South Korea Third-Party Logistics (3PL) Market Overview
9.1 Key Industry Highlights
9.2 South Korea Third-Party Logistics (3PL) Historical Market (2018-2023)
9.3 South Korea Third-Party Logistics (3PL) Market Forecast (2024-2032)
10 South Korea Third-Party Logistics (3PL) Market by Service
10.1 Dedicated Contract Carriage (DCC)/Freight Forwarding
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Domestic Transportation Management
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 International Transportation Management
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Warehousing and Distribution
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Value Added Logistics Services
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
11 South Korea Third-Party Logistics (3PL) Market by Industry Vertical
11.1 Food and Beverage
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Automotive
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Consumer and Retail
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 IT Hardware and Telecom
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Healthcare
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Energy
11.6.1 Historical Trend (2018-2023)
11.6.2 Forecast Trend (2024-2032)
11.7 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Deutsche Post AG
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Nippon Express Co., Ltd.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 United Parcel Service of America, Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 C.H. Robinson Worldwide, Inc.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Yusen Logistics Co., Ltd.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 FedEx Corp.
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Schenker AG
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 DSV A/S
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 CJ Logistics Corporation
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 LX Pantos Co., Ltd.
13.2.10.1 Company Overview
13.2.10.2 Product Portfolio
13.2.10.3 Demographic Reach and Achievements
13.2.10.4 Certifications
13.2.11 Jupiter Express Co.
13.2.11.1 Company Overview
13.2.11.2 Product Portfolio
13.2.11.3 Demographic Reach and Achievements
13.2.11.4 Certifications
13.2.12 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Third-Party Logistics (3PL) Market: Key Industry Highlights, 2018 and 2032
2. South Korea Third-Party Logistics (3PL) Market: Key Industry Highlights, 2018 and 2032
3. South Korea Third-Party Logistics (3PL) Historical Market: Breakup by Service (USD Billion), 2018-2023
4. South Korea Third-Party Logistics (3PL) Market Forecast: Breakup by Service (USD Billion), 2024-2032
5. South Korea Third-Party Logistics (3PL) Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2023
6. South Korea Third-Party Logistics (3PL) Market Forecast: Breakup by Industry Vertical (USD Billion), 2024-2032
7. South Korea Third-Party Logistics (3PL) Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 32.9 billion.
The market is estimated to grow at a CAGR of 3.90% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 46.83 billion by 2032.
The market is being driven due to rapid rise in e-commerce, globalisation, and growing demand for cost-saving logistics solutions.
The key trends aiding the market include investing in high-end technologies and infrastructure, rising integration of analytics in 3PL operations, and incorporation of sustainable practices.
Based on service, market segmentations include dedicated contract carriage (DCC)/freight forwarding, domestic transportation management, international transportation management, warehousing and distribution, and value-added logistics services, among others.
Different industry verticals are food and beverage, automotive, consumer and retail, IT hardware and telecom, healthcare, and energy, among others.
The major players in the market are Deutsche Post AG, Nippon Express Co., Ltd., United Parcel Service of America, Inc., C.H. Robinson Worldwide, Inc., Yusen Logistics Co., Ltd., FedEx Corp., Schenker AG, DSV A/S, CJ Logistics Corporation, LX Pantos Co., Ltd., and Jupiter Express Co., among others.
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