NEW
YORK, July 10, 2024 /PRNewswire/ -- The
global third-party logistics (3PL) market size in US
size is estimated to grow by USD 120.1
billion from 2024-2028, according to Technavio. The market
is estimated to grow at a CAGR of over 8.08% during the
forecast period. In the global third-party logistics (3PL)
market, US companies hold significant market share alongside global
players. Key US players such as C H Robinson Worldwide Inc., FedEx
Corp., and United Parcel Service Inc. are prominent due to their
extensive networks and technological innovations like blockchain
and RFID. Despite challenges such as trade wars, US 3PL firms
benefit from robust cross-border trade growth. They compete with
global giants like Deutsche Post AG and Kuehne Nagel Management AG,
leveraging their expertise in logistics management and
customer-centric solutions to maintain competitive positions.
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report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Retail,
Manufacturing, Automotive, Food and beverages, and Others), Service
(Transportation, Warehousing and distribution, and Others), and
Geography (North America)
|
Region
Covered
|
US
|
Key companies
profiled
|
Americold Realty Trust
Inc., Blu Logistics, Burris Logistics Co., C H Robinson Worldwide
Inc., Crete Carrier Corp., Deutsche Post AG, Expeditors
International of Washington Inc., FedEx Corp., Hub Group Inc., J B
Hunt Transport Services Inc., Kenco Group Inc., Kuehne Nagel
Management AG, M and W Logistics Group Inc., NFI Industries Inc.,
Ryder System Inc., Taylor Logistics Inc., Total Quality Logistics
LLC, United Parcel Service Inc., Wagner Logistics Inc., and XPO
Inc.
|
Key Market Trends Fueling Growth
Blockchain technology is a significant trend among Third-Party
Logistics (3PL) providers in the US. Many providers are investing
in technologies like radio-frequency identification (RFID),
blockchain, and real-time location systems (RTLS) for logistics
services. Blockchain increases supply chain visibility and enables
effective product tracking. Each block stores records of
stakeholders and product details, enhancing security with
validation from every network participant. FexEX joined the
Blockchain in Transportation Alliance (BiTA) and Hyperledger to
develop blockchain solutions. RFID technologies have gained
popularity among leading 3PL companies, such as MegaTrux Inc.,
offering RFID-based tracking and asset management. RTLS detects
vehicle locations, identifying transportation bottlenecks and
reducing operational costs. This trend is expected to increase 3PL
demand in the automotive industry due to cost savings.
The Third-Party Logistics (3PL) market in the US is thriving,
with key industries like Aerospace, Consumer and Retail, Energy,
Healthcare, Manufacturing, and Transportation sector driving
growth. The Shipping industry and Cross-border trade are also
significant contributors. Digital transformation and the E-commerce
sector's surge are major trends, with 3PLs providing software
solutions for inventory management, cross-docking, and door-to-door
delivery. Retailers and e-commerce merchants rely on 3PL companies
for warehousing space and logistics infrastructure. Airfreight and
air cargo are essential for time-sensitive goods, while railways,
roadways, waterways, and airways ensure efficient transportation.
Dedicated contract carriage and warehousing and transportation
solutions cater to the Technological, Retailing, Elements, and
Online retailing industries. IT solutions, including warehouse
management systems, Electronic Data Interchange, cloud computing,
real-time monitoring, and tracking capabilities, enhance
operational efficiency. Rare earth elements and metals are
transported via 3PLs in the manufacturing sector.
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Market Challenges
- Trade wars between countries can significantly impact the
third-party logistics (3PL) market in the US. When governments
restrict imports or raise tariffs, international trade is affected,
leading to a decrease in the transportation of goods. For instance,
in January 2022, the US imposed
tariffs on various products from countries like the EU,
China, Canada, and Mexico. In response, these countries imposed
retaliatory tariffs on US imports. The US-China trade war, which
began in 2017, resulted in billions of dollars worth of tariffs on
each other's products. These trade restrictions can limit the
growth of the manufacturing sector and, consequently, the demand
for 3PL services in the US. The ongoing trade tensions between
countries can continue to impact the 3PL market negatively during
the forecast period.
- The Third-Party Logistics (3PL) market in the US is facing
several challenges across various industries. In waterways and
airways, unpredictable weather conditions and rising fuel costs
pose significant hurdles. Dedicated contract carriage and
warehousing & transportation require efficient management to
ensure timely delivery and optimal inventory levels. The
technological industry's rapid advancements, including automation,
AI, cloud-based technologies, big data, and predictive analytics,
bring new opportunities but also necessitate quick adaptation.
Retailing, elements, and online retailing sectors demand advanced
warehouse management systems, real-time monitoring, and tracking
capabilities. Rare earth elements and metals export face complex
regulations, while export logistics require compliance with Free
Trade Agreements. Automation, workplace robotics, AI, and
cloud-based technologies are transforming the landscape. Last-mile
delivery, Fourth-Party Logistics, blockchain, and omni-channel
operations are emerging trends. The Roadways segment faces
challenges with increasing competition and capacity constraints,
while the Airways segment grapples with rising fuel prices and
security concerns. EDI and real-time tracking capabilities are
essential for seamless information exchange.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This third-party logistics (3pl) market in US report extensively
covers market segmentation by
- End-user
- 1.1 Retail
- 1.2 Manufacturing
- 1.3 Automotive
- 1.4 Food and beverages
- 1.5 Others
- Service
- 2.1 Transportation
- 2.2 Warehousing and distribution
- 2.3 Others
- Geography
1.1 Retail- The Third-Party Logistics (3PL)
market in the US is a significant sector, providing essential
services to businesses seeking to outsource their logistics
operations. 3PLs offer various services, including warehousing,
transportation, inventory management, and order fulfillment. These
services enable businesses to focus on their core competencies
while improving their supply chain efficiency and reducing costs.
The market is competitive, with numerous players offering
customized solutions to meet diverse industry needs. Companies
continue to invest in advanced technologies, such as automation and
real-time tracking, to enhance their offerings and stay
competitive. The 3PL market is expected to grow steadily, driven by
the increasing demand for flexible and cost-effective logistics
solutions.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Third-Party Logistics (3PL) market in the US is a dynamic
and evolving industry that caters to various sectors including
Aerospace, Consumer and Retail, Energy, Healthcare, Manufacturing,
Transportation, Ecommerce merchants, and more. 3PL providers offer
services such as inventory management, cross-docking, door-to-door
delivery, and logistics infrastructure solutions to help businesses
streamline their supply chain operations. The market is driven by
global trading activity and the increasing demand for IT solutions,
particularly in the areas of consumer electronics and omni-channel
operations. Last-mile delivery and fourth-party logistics are
emerging trends in the market, with an emphasis on improving
efficiency and reducing costs. The use of blockchain technology is
also gaining traction to enhance transparency and security in the
supply chain. Shippers benefit from the expertise and resources of
3PL providers to manage their logistics needs effectively.
Market Research Overview
The Third-Party Logistics (3PL) market in the US is a dynamic
and evolving industry, serving various sectors including Aerospace,
Consumer and Retretail, Energy, Healthcare, Manufacturing,
Transportation, Shipping, Cross-border trade, and the Technological
and Retailing industries. The market is characterized by the
integration of digital transformation, e-commerce sector growth,
and logistics infrastructure development. 3PLs provide services
such as inventory management, cross-docking, door-to-door delivery,
and warehousing space to retailers, e-commerce merchants, and
manufacturers. Airfreight and air cargo are significant segments,
with railway, roadway, waterways, and airways utilized for
transportation. Technological advancements, including software
solutions, warehouse management systems, Electronic Data
Interchange, cloud computing, real-time monitoring, tracking
capabilities, and AI, are transforming the industry. The e-commerce
marketplace, online retailing, and omni-channel operations require
advanced logistics solutions. The market is influenced by global
trading activity, free trade agreements, and the adoption of IT
solutions, predictive analytics, and automation. Elements
industries, such as rare earth elements, metals, and export, also
rely on 3PLs for efficient supply chain management. Fourth-Party
Logistics and blockchain are emerging trends, offering greater
transparency and efficiency. Last-mile delivery, workplace
robotics, and AI continue to shape the future of the 3PL
industry.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Retail
- Manufacturing
- Automotive
- Food And Beverages
- Others
- Service
-
- Transportation
- Warehousing And Distribution
- Others
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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