North America Third Party Logistics (3PL) Market Share, Trends, Revenue, Demand, CAGR Status, Challenges, Future Strategy and Growth Opportunities Till 2033


North America Third Party Logistics (3PL) Market Share, Trends, Revenue, Demand, CAGR Status, Challenges, Future Strategy and Growth Opportunities Till 2033: SPER Market Research

 Published: Jun-2024
 Author: SPER Analyst

North America Third Party Logistics Market is projected to be worth USD 518.59 billion by 2033 and is anticipated to surge at a CAGR of 6.43%.

Manufacturers, particularly e-commerce merchants, might use third-party logistics partners or services to help them outsource logistics and distribution-related operations. A third-party logistics company provides services such product packing, door-to-door delivery, cross-docking, and inventory management. As a result, this aids companies in providing better customer service, ensuring scalability, lowering the risk of product damage, encouraging corporate growth and market expansion, and enabling the completion of crucial company procedures. The third-party logistics model also facilitates more asset utilisation and asset sharing partnerships, which drives demand and promotes market growth.

North America Third Party Logistics Market Driving Factors and Challenges

Driving Factors: By using third-party logistic vendors, businesses are also prevented from dividing their internal operations into multiple sites, which may not be cost-effective. As a result, third-party logistic vendors use the newest IT software and applications to improve distribution coverage and offer clients high-quality services. Over the past five years, omni-channel distribution has become more popular, mostly as a result of growing usage of online marketing. Using their experience, third-party logistics firms help their partners quickly locate and deliver products to customers through any channel.

Challenges: Third-party logistics operators retrieve packages from manufacturing facilities and begin the task of distributing and overseeing the stock of these products in line with the demands of each area. However, manufacturers frequently have little control over the product supply chain. For certain manufacturers, using third-party logistics services might not be permitted because of how an unidentified third-party supplier handles the products of the company. The manufacturer faces additional difficulties in tracking the delivery process when attempting to reduce the hold and control on the goods while they are in transit.

Impact of COVID-19 on North America Third Party Logistics Market
The COVID-19 pandemic had a significant impact on North America's third-party logistics business, posing positive as well as negative consequences. Due to shifts in consumer behaviour and the growth of e-commerce, logistics services became more and more necessary, particularly for last-mile delivery and fulfilment. However, the outbreak also caused strain on supply chains, resulting in staffing shortages, lockdowns, and health and safety laws that caused delays in shipping and warehousing. Businesses had to respond quickly to increase resilience and efficiency by implementing cutting-edge technologies like automation and real-time tracking. 

North America Third Party Logistics Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as C.H. Robinson, Cma Cgm Sa, Db Schenker, Fedex Corporation, J.B. Hunt Transport Services, Inc, Kumho Petrochemical Co, Ltd, Maersk Logistics, Nippon Express Co, Ltd, Rhenus Group, Sinotrans Logistics Company, Tsrc Corporation, and Others.

North America Third Party Logistics Market Segmentation:

By Mode of Transport: Based on the Mode of Transport, North America Third Party Logistics Market is segmented as; Roadways, Railways, Waterways, Airways.

By Services: Based on the Services, North America Third Party Logistics Market is segmented as; Domestic Transportation Management(DTM), International Transportation Management(ITM), Dedicated Contract Carriage(DCC), Warehousing and Distribution(W&D), Value-Added Logistics Services(VALS).

By End User: Based on the End User, North America Third Party Logistics Market is segmented as; Manufacturing, Healthcare, Retailing, E-commerce, Automotive, Food and Groceries, Technological, Others.

By Region: This research also includes data for U.S., Canada, Mexico, Rest of North America.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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