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Report Overview
The global third-party logistics (3PL) market reached a value of nearly USD 1061.95 Billion in 2023. The market is assessed to grow at a CAGR of 5.30% during the forecast period of 2024-2032 to attain a value of around USD 1690.28 Billion by 2032. The expanding cross-border trade, the increasing volume of shipments, the flourishing e-commerce sector, the rise of omnichannel retailing, and the growing demand for customised logistics services are driving the market.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- The increasing volume of shipments is surging the demand for specialised logistics services tailored to diplomatic shipments, international relocation, and travel-related logistics. The U.S. Department of State reports yearly totals of 30,000 shipments, 26 million pounds of stored household effects, and 50,000 travel transactions. This highlights the growing demand for inventory management, warehouse space, and secure storage solutions as well as efficient supply chain management. 3PL providers are expanding their offerings to include long-term storage solutions and investing in advanced technologies to meet the growing demand for international and relocation-related logistics.
- Governments are promoting the adoption of logistics information platforms to streamline their logistics infrastructure with global trade networks and promote innovation and economic growth. For instance, the Chinese government promotes LOGINK adoption by global ports, freight carriers, forwarders, and other countries by offering it for free. This is prompting 3PL providers to integrate logistics information platforms to streamline their processes, ranging from inventory management to shipment tracking, reducing manual work, minimising errors, and improving operational efficiency.
- With logistics contributing to a significant portion of a country’s GDP, the demand for 3PL services such as transportation, warehousing, customs clearance, and inventory management, by businesses to streamline supply chains, reduce costs, and improve operational efficiency is increasing. The Indian logistics sector represents approximately 14% of the country’s GDP. Significant investments in infrastructure such as airports, roads, railways, and ports are prompting 3PL providers to offer more competitive services, optimise operations, and enhance their service offerings.
Global Third-Party Logistics (3PL) Market Growth
Rapid globalisation is shaping the third-party logistics (3PL) market development. 3PL providers are expanding their offerings to include customs clearance, import/export documentation, and navigation of different regulations across regions. They are also expanding their transportation capabilities to provide integrated services for air, sea, rail, and road transportation across borders, hence ensuring seamless delivery of goods across the globe.
With businesses increasingly outsourcing their non-core functions like logistics to specialised 3PL providers to focus on their core competencies, the market is witnessing a healthy growth. Moreover, 3PL providers are leveraging IoT-enabled sensors to gain real-time visibility into warehouse inventory, shipments, and vehicle health, improving logistics management, optimising supply chain operations, and lowering delays.
Third-Party Logistics (3PL) Market Report Snapshots
Third-Party Logistics (3PL) Market Size
Third-Party Logistics (3PL) Market Growth
Third-Party Logistics (3PL) Market Trends
*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.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 1061.95 Billion.
The third-party logistics (3PL) market is assessed to grow at a CAGR of 5.30% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 1690.28 Billion by 2032.
The market key players are DHL Global Forwarding, Kuehne + Nagel International AG, DB Schenker, DSV A/S, Sinotrans Changhang Group, Panalpina, Nippon Express Co., Ltd., Expeditors, UPS Supply Chain Solutions Inc., Hitachi Transport System, C.H. Robinson, Hellmann Worldwide Logistics SE & Co. KG, Bolloré Logistics, CEVA Logistics, and Yusen Logistics Co., Ltd. among others.
Based on end use, the global third-party logistics market is broken down into food and beverage, automotive, consumer and retail, IT and telecom, healthcare, energy, and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124