ResearchAndMarkets released its “Third Party Logistics (3PL) – Global Market Trajectory & Analytics” report, predicting growth to 1.3 trillion USD by 2026 with a CAGR of 8%.
Trade globalization and liberalization of national economies with steep expansion in demand for manufactured goods influenced significant growth in the global manufacturing sector. The resulting escalation in manufacturing activity increased the need for well-organized supply chain logistics while generating substantial opportunities for 3PL services.
More companies are relying on outsourcing various logistics functions, including transportation, warehousing, and distribution, thus fueling growth in the 3PL market. The availibility of industry-specific 3PL services also steers the market for established vendors with full-fledged road/ground, rail, air, and sea/ocean transportation infrastructure. They need the ability to perform numerous logistics functions, including dry van freight, truckload freight, less-than-truckload (LTL) freight, flatbed & heavy freight, bulk freight, refrigerated freight, and intermodal shipments, on behalf of client enterprise.
The report looks at 477 vendors, including DHL, FedEx, J.B. Hunt Transport, Nippon Express, United Parcel Service of America, Inc., and Yusen Logistics. It looks at market trends and drivers and provides an in-depth analysis.
For more information about this report, visit https://www.researchandmarkets.com/r/eapy2h