Home Retail The Third-Party Logistics (3PL) Market Is Set To Grow At A 9% Rate With The Rise In The Penetration Of Organized Retail

The Third-Party Logistics (3PL) Market Is Set To Grow At A 9% Rate With The Rise In The Penetration Of Organized Retail

by Ozva Admin

LONDON, November 23, 2022 /PRNewswire/ — Increased penetration of organized retail, especially in developing economies, is expected to be a major driver of the third-party logistics (3PL) market. Organized retailing refers to systemized retail operations conducted by authorized retailers. Rising disposable income, changing consumer tastes and preferences, healthy economic growth, and changing demographic profiles are driving growth in the organized retail market. In addition, the increasing penetration of the Internet and more international retailers starting operations in different countries and regions are also benefiting the organized retail sector. 3PL providers are used in the retail industry for the transportation of goods, warehousing, inventory management, pick and pack, and final delivery of various merchandise.

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the global Third Party Logistics (3PL) Market Size is expected to grow from $0.90 trillion in 2021 to $0.99 trillion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The global third-party logistics (3PL) market share is expected to reach $1.41 trillion in 2026 at a compound annual growth rate (CAGR) of 9.2%.

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Third-Party Logistics (3PL) Market Trends: Increased Use of Artificial Intelligence

Artificial intelligence is being used more and more by wholesalers and suppliers in the third-party logistics (3PL) marketplace. AI in logistics can help with route optimization and fleet management. for example in January 2022, Verte, a US-based e-commerce services company, launched a new artificial intelligence (AI)-enabled omnichannel supply chain platform for wholesalers and third-party logistics (3PL) providers. Verte’s technology solutions provide real-time supply chain insights with a data-driven platform that centralizes information to provide supply chain transparency and is ideally positioned to provide aggregated data solutions that address critical industry concerns. related to inventory and customer fulfillment, allowing retailers, carriers, 3PLs, and carriers to operate more efficiently.

Kuehne + Nagel International AG was the largest competitor in the Third Party Logistics (3PL) Marketplace

Kuehne + Nagel International AG was the largest competitor in the third-party logistics (3PL) market in 2021, with a market share of 3.70%. According to third-party logistics (3PL) market research, Kuehne+Nagel’s growth strategy focuses on strengthening its business operations through strategic partnerships and collaborations. for example in October 2022the company partnered with Pepco to provide contract logistics, warehousing and automation services for end-to-end distribution in Bulgaria, Greece and Romania.

Third Party Logistics (3PL) Market Segmentation

the global third-party logistics (3PL) market is segmented –

  1. By type of service: dedicated contract transportation, national transportation management, international transportation management, storage and distribution, other types of services
  2. By mode of transport: Railways, Highways, Waterways, Airways
  3. By Industry: Technological, Automotive, Retail, Elements, Food and Groceries, Health, Other Industries

See more in the Third Party Logistics (3PL) Market Report

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Global Transportation and Logistics Market Report 2022: By type (airways, rail, highways, waterways), by function (freight transportation, warehousing, value-added services, other functions), by end user (manufacturing and automotive, Oil and Gas, Mining) and Quarrying, Agriculture, Fishing and Forestry, Construction, Distributor Trade, Other End Users) – Market Size, Trends and Global Forecast 2022-2026

Global Logistics Automation Market Report 2022: By Component (Hardware, Software, Services), By Function (Warehouse and Storage Management, Transportation Management), By Organization Size (Small-Medium Organizations, Large-Scale Organizations), By End-User (Retail) and E-Commerce, Automotive, Food and Beverage, Logistics, and Transportation): Market Size, Trends, and Global Forecast 2022-2026

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