Global Logistics Services (3PL&4PL) Market - Growth Drivers, Opportunities and Forecast Analysis to 2020-2026
Summary -
A new market
study, titled “Global Logistics Services (3PL&4PL) Market Analysis, Trends and Opportunities -2020-2026” has been featured on WiseGuyReports.
A third party logistics (3PL) provider offer
logistics services which include freight forwarding, inventory storage &
distribution, shipping or distribution of materials, IT solutions, and others.
A 3PL service can be a single provider or it can be an integrated system with a
wide bundle of services, which is capable of managing the supply chain of a
company. The benefits of using 3PL service are, cost saving and increasing
focus on the core competency of an organization. However, it is having a less
control over the own inventory and trust issues which is curtailing the growth
of the 3PL services.
A fourth party logistics (4PL) provider is a
supply chain integrator which gathers and manages all capabilities, resources,
and technology of a company’s supply chain. An experienced and dependable 4PL
provider will deliver value with an approach of reengineering of supply chain
to the organization. The 4PL provider signs a centralized contract with the
client to carry out all the responsibilities for the performance of logistics
functions of an organization.
There are many factors that defines the
logistic service success in today’s competitive environment. customer centric
services and adoption of newer technology are key aspect to today’s business
flourishment. Majority of the companies are focusing on enhancing the business
reach through better engagement with clients through various means of
communication. In addition, companies mainly focus on trimming the duration of
the delivery timelines so as to be counted as a reliable and trusted company.
In the last few years, many companies have entered in merger and acquisition so
as to boost the presence worldwide and harness the already existing technology.
This is quite true when it comes to acquisition of Asia based companies, since
the region offers highest trade influx and slowly the market is shifting
towards South Asia. Over 35 merger and acquisition was noticed in the logistic
services in 2018.
On the basis of mode of transportation, the
global logistics services market is segmented into road, waterways, rail and
air. Among these, road transport accounted for the largest domestic services,
while waterways was the preferred means of logistic transportation for
international shipment. This will remain same, while airways will slowly gain
higher industry traction.
By end-use, the global logistics services
market is segmented into manufacturing, retail, trade and transportation,
government and public, utilities, healthcare, media, BFSI, IT and
telecommunications. According to the research conducted, retail segment
accounted for 28.3% of market share in 2018. This will continue to be the same
with minor deflection in market share by 2023.
Regionally, Asia Pacific accounted for 39%
share in 2018. Highest trade flow was seen across China and rest of the world.
Presence of large number of retail and manufacturing companies has created
favorable business system in the region. Moreover, the region is known to have
the largest population base. China and India are the key region in the market.
North America and Europe stands next to Asia Pacific. Companies based in Europe
and North America mainly focuses on technological upgradation and acquiring
prospective companies based in Asia. In order to minimize, the overhead costs,
companies are adopting newer technologies such as drone based delivery and
robot assisted inventory management. Adoption of these technology will help
companies to stay agile and generate huge profits in coming years.
Some of the key player covered in the report
are DHL, DSV, Kuehne & Nagel, DB Schenker Logistics, Sinotrans, CH Robinson
Worldwide, CEVA Logistics, UPS Supply Chain Solutions, and Hitachi Transport
Systems. Few new entrants have also emerged in the market that primarily
focuses on ecommerce segment. Startups are backed with investors having
innovative ideas. Proliferation of such companies will lead to intense
competition in coming years..
FOR MORE DETAILS:- https://www.wiseguyreports.com/reports/4417156-global-logistics-services-3pl-4pl-market-segment-analysis
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