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The Global 4PL Logistics Market Size is valued at 55.75 billion in 2023 and is predicted to reach 104.54 billion by the year 2031 at a 8.39% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The development of numerous manufacturers and regional logistics operators is fueling the need for an efficient supply chain management system, which in turn is driving the expansion of the market.
- Growing interest in solution integrator models in the retail and food and beverage industries is propelling the 4PL-type market globally.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The high risks of international shipping and problems with logistics control might slow the expansion of the fourth-party logistics market for the foreseeable future.
Distribution network services are another name for fourth-party logistics (4PL) services. Logistics is the organization of collecting, storing, and transferring commodities to their destination. The need for fourth-party logistics has increased significantly over the last few years. For managing incoming raw materials, dynamic transportation, demand-driven logistics, and international incidental music, fourth-party logistics has a lot to offer. The key reasons behind the commercialization are the rising demand for inbound logistic services, mainly from the manufacturing sector, and the increasing need for straightforward logistical processes from distributors and manufacturers. Inbound logistics services are in great demand, notably from the industrial sector. Retailers and manufacturers also have an increasing need for simple logistics. These are the main elements fueling the market's expansion.
Additionally, many organizations provide enhanced customer service, adaptability, and total operation cost, which motivates companies to engage supply chain suppliers. The need for these services to deliver small and large products is rising due to the potential growth of the e-commerce industry, creating more lucrative chances for market expansion globally.
Furthermore, due to the rising demand for an efficient supply chain, the global 4PL logistics market is anticipated to expand. The 4PL supply chain is prevalent across many industries because it offers businesses straightforward supply chain operations. The exponential expansion of the electronic sector is advancing the sector. Companies that sell electronic goods are more likely to invest in supply chains run by third parties to offer doorstep delivery services to their clients.
Recent Developments:
- In March 2020-Kuehne + Nagel introduced a new digital supply chain platform. This platform can increase efficiency for customers in the global supply chain. Controlling the entire product life cycle, from sourcing, quality control, purchase order negotiation and management to commercial invoice release, buyer consolidation, transportation, and delivery, may increase supplier dependability and product availability.
- In December 2020-With, Blue Yonder, a top supplier of digital supply chain platforms, and Uncover Group, a major retailer in Latin America and the Caribbean, will digitally alter their planning and fulfillment strategy. To support its expansion and streamline its planning and sourcing procedures, uncover chose Blue Yoder’s demand planning and fulfillment capabilities.
Competitive Landscape:
Some of the 4PL Logistics market players are:
- 4PL Group
- 4PL Insights
- Accenture Consulting
- Allyn International Services, Inc
- C.H Robinson Worldwide, Ltd
- CEVA Logistics
- DAMCO
- DB Schenker
- Deloitte
- Deutsche Post AG
- GEFCO Group
- Global4PL Supply Chain Service
- Logistics Plus Inc.
- Panalpina World Transport
- United Parcel Service, Inc
- XPO Logistics, Inc.
Market Segmentation:
The 4PL Logistics market is segmented based on product and end user. Based on type, the market is segmented as synergy plus operating model, solution integrator model and industry innovator model. By end user, the 4PL Logistics market is segmented into aerospace & defense, automotive, consumer electronics, food & beverages, industrial, healthcare, retail and others.
Based On Type, The Solution Integrator Model Segment Is A Significant Contributor To The 4PL Logistics Market
The solution integrator model category will hold a major share of the global 4PL Logistics market in 2021. Integration of the solution provides more intelligent organizational operations by connecting disparate processes. As organizational complexity impacts an organization's capacity to compete and generate profit, businesses are beginning to recognize the significance of implementation. One of the main drivers of the expansion of the solution integrator market is the rising adoption of the Internet of Things (IoT), rising breakthroughs in cloud technologies, and rising investments in decentralized information systems, including real-time process control and communications networks.
The Consumer Electronics Segment Witnessed Growth At A Rapid Rate
The consumer electronics segment is projected to grow rapidly in the global 4PL Logistics market. Consumer electronics manufacturers are investing in third-party transportation services to support customer doorstep delivery due to the consumer electronics sector's spectacular global growth. Some factors, including the changing lifestyles of the populace, the adoption of technologically advanced products, and increasing per capita income, can be used to explain the consumer electronics industry's spectacular rise., particularly in countries such as the US, Germany, the UK, China, and India.
The North America 4PL Logistics Market Holds A Significant Regional Revenue Share
The North America 4PL Logistics market is expected to register the highest market share in revenue soon. Because there are so many corporate businesses in North America, the market is expanding quickly. North America is using new technologies and techniques to address the rising demand for supply chain services. In addition, the Asia Pacific region is projected to grow rapidly in the global 4PL Logistics market. E-commerce is becoming increasingly well-liked in emerging nations, which has helped to create this enormous industry share. The sectors in developing countries like South Korea, India, Japan, and China are significantly responsible for their economies' expansion. These services are offered throughout the region by sizable businesses. The 4PL Logistics market growth is anticipated to be fueled by rising demand for a third-party supply chain from different online retailers.
Global 4PL Logistics Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 55.75 Bn |
|
Revenue forecast in 2031 |
USD 104.54 Bn |
|
Growth rate CAGR |
CAGR of 8.39% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Product And End User |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
4PL Group, 4PL Insights, Accenture Consulting, Allyn International Services, Inc., C.H Robinson Worldwide, Ltd., CEVA Logistics, DAMCO, DB Schenker, Deloitte, Deutsche Post AG, GEFCO Group, Global4PL Supply Chain Services, Logistics Plus Inc., Panalpina World Transport, United Parcel Service, Inc., and XPO Logistics, Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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