3PL logistics market is estimated to reach 1.3 billion USD in 2022

27/05/2022

With a compound annual growth rate (CAGR) of 7.3%, the 3PL logistics market is expected to reach $1.3 billion this year and $1.85 billion in 2027.

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According to the results of a survey report from Research And Markets, market dynamics have an impact on prices and stakeholder behavior in the global logistics and 3PL sectors. Both market prices can be set based on changes in customer supply and demand for that good/service. And vice versa, prices also have an effect on human needs.

When the market is volatile due to supply and demand changes, experts will determine how to use some of the best financial instruments to devise a variety of strategies to accelerate growth and reduce risk. The logistics situation in the Americas, Europe, the Middle East, Africa and Asia-Pacific is the focus of Research And Markets' research.

The analysis of the global 3PL market based on service, mode of transport, end-user segment and geographical location. Types of 3PL services now include: domestic transport management, specialized contract transportation, international transport management, warehousing and value-added distribution,... Regarding modes of transport, The market is divided into 4 categories: railway, road, waterway and air.

In Technavio's report on logistics, the size of the global market is predicted to reach a CAGR of 1.39%, growing at USD 71.96 billion in the period 2021-2026. The report also indicates that using blockchain (block chain) will become an important trend to support the development of logistics in the period 2022-2026.

Blockchain technology helps improve visibility of operations and efficiently track products during transit. Therefore, logistics service providers are working with blockchain technology providers to develop platforms to increase security and transparency in the shipping industry.