Third-party Logistics (3PL) Market Poised to Expand at a Robust Pace Over 2020 to 2027

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Third-party Logistics (3PL) Market
3PL is the function by which a manufacturer
outsources activities related to logistics and
distribution. A 3PL company can provide
specialized services such as inventory
management, cross-docking, door-to-door delivery,
and packaging of products. The market for 3PL
service is expected to witness significant
growth, due to development of the e-commerce
industry. Moreover, the demand for this service
is expected to escalate in the near future, due
to increase in focus of manufacturers and
retailers on their core business (known as core
competencies) and subcontracting activities, such
as logistics where they have less expertise.
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Third-party Logistics (3PL) Market
The global third-party logistics (3PL) market was
valued at 1,027.71 billion in 2019, and is
projected to reach 1,789.94 billion by 2027,
registering a CAGR of 7.1 from 2020 to 2027. In
2019, the Asia-Pacific region garnered the
highest share in the global 3PL market. Dynamic
market conditions and improvement in the global
economy are the key factors driving
globalization. Various activities related to
trade have been witnessed to increase, owing to
rise in globalization. Hence, manufactures or
retailers find it difficult to keep a track of
these activities in an efficient manner, 3PL
companies help these manufacturers to keep track
and control these activities. This factor is
expected to drive the market. Moreover,
development of the overseas market is a
significant factor that fuels the growth of the 3
PL industry.
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Third-party Logistics (3PL) Market

• Key Benefits For Stakeholders
• This study comprises the analytical depiction of
  the global 3PL market analysis along with the
  current trends and future estimations to depict
  the imminent investment pockets.
• The overall market potential is determined to
  understand the profitable trends to gain a
  stronger foothold.
• The report presents information related to the
  key drivers, restraints, and opportunities of the
  global 3PL market with a detailed impact
  analyses.
• The current market is quantitatively analyzed
  from 2019 to 2027 to benchmark the financial
  competency.
• Porters five forces analysis illustrates the
  potency of the buyers and suppliers in the
  industry.

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Third-party Logistics (3PL) Market

• Major Companies
• C.H. Robinson Worldwide
• DB Schenker
• DHL International GMBH
• FedEx Corporation
• L3Harris Technologies, Inc.
• KUEHNENAGEL Inc.
• Maersk
• Nippon Express
• Panalpina World Transport Ltd.
• Union Pacific Railroad
• United Parcel Service

COVID-19 impact
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Third-party Logistics (3PL) Market
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