Global Logistics Services (3PL & 4PL) market Ecosystem is also known as the third-party logistics provider. Third party logistics providers provide outsourced logistic services to several companies, and their services include freight forwarding, customs brokerage, inventory storage & management, shipping & distribution, and cross-docking, among others. Logistics Services (3PL & 4PL) market Ecosystem functions well with both international and local distribution, resulting in a speedy delivery. Further, 3PL works well with bulk orders and fast-growing businesses, and it also saves money and time through economies of scale. However, 3PL services can become expensive in case of a small quantity of orders, and it excludes flammable, hazardous, and perishable items. Logistics Services (3PL & 4PL) market Ecosystem services are best suited for small and medium scale businesses.
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Logistics services are outsourced by most companies to reduce logistics related cost and to focus on their core business processes. The services provided by a third-party logistics company includes warehousing, transportation, packaging and freight forwarding, and inventory management, amongst others. A fourth party logistics organization manages resources, infrastructure, technology, distribution, and procurement, and provides supply chain solutions and other services to companies. The global logistics service (3PL & 4PL) market is expected to reach US$ 2,033.9 Bn by 2027, growing with a CAGR of 9.64% during the forecast period.
The e-commerce industry is expected to rise at a CAGR of 18.3% up to the year 2026, which is driving the global Logistics Services (3PL & 4PL) market Ecosystem. The increasing globalization has made it difficult for the e-commerce companies to manage their supply chain processes. The value-added services provided by the logistics service providers such as managing a company’s supply chain processes, warehousing, transportation, analyzing and providing a better solution and technologies to handle business and others are increasing its market demand. Managing the inventory for e-commerce industry is difficult task, the logistics service providers provides strategic vision and solution to help these companies in operating more efficiently and effectively. By the expertise and knowledge in the field of supply chain management the logistics services providers give efficient last-mile delivery services to the e-commerce firms.
Global Logistics Services (3PL & 4PL) market Ecosystem
Asia Pacific is expected to hold the pole position in the Logistics Services (3PL & 4PL) market Ecosystem owing to the increasing penetration of e-commerce across the region. The major providers such as Nippon express, Yusen Logistics, and APL Logistics are providing 3PL and 4PL services in the market. Increasing demand from various e-commerce players for logistics services in Asia Pacific has boosted the growth of the logistic services market in the regionGrowing need for effective delivery service and customer experience has been achieved with the use of new platforms and technologies in North American and European countries. The e-commerce industry sustained its growth to modify the supply chain. The supply chain expertise puts extra efforts on solutions to make last-mile delivery efficient such as using crowdsourcing deliveries, click-and-collect technology, and pickup lockers. Increase in customers’ expectations is putting pressure on the shippers to reconsider last mile delivery in the supply chain.