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The Third-Party Logistics (3PL) Market Is Set To Grow At A 9% Rate With The Rise In The Penetration Of Organized Retail - By The Business Research Company
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%.
Artificial intelligence is increasingly being used by wholesalers and providers in the third-party logistics (3PL) market. AI in logistics can help with route optimization and fleet management. For example, in January 2022 , Verte, a US based e-commerce service company launched a new artificial intelligence (AI)-enabled omnichannel supply chain platform for wholesalers and third-party logistics (3PL) providers. Verte's technological solutions provide real-time supply chain insight with a data-driven platform that centralizes information to provide supply chain transparency and it is ideally positioned to provide aggregated data solutions that address critical industry concerns related to inventory and customer fulfilment, allowing retailers, shippers, 3PLs, and carriers to operate more efficiently.
Kuehne + Nagel International AG was the largest competitor in the third-party logistics (3PL) market in 2021, with a 3.70% share of the market. As per the third-party logistics (3PL) market research, Kuehne+Nagel's growth strategy focuses on strengthening its business operations through strategic partnerships and collaborations. For instance, in October 2022 , the company partnered with Pepco for providing contract logistics services, warehousing and automation services for the end-to-end distribution across Bulgarian, Greek, and Romanian
The global third-party logistics (3PL) market is segmented -
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