Global Third-party Logistics (3PLs) growth rate reaches 9%
Global Third-party Logistics (3PLs) growth rate reaches 9%

Global Third-party Logistics (3PLs) growth rate reaches 9%

The size of the global third-party logistics (3PLs) market is expected to grow from $900 billion (2021) to $990 billion this year at 9.4% CAGR, according to Business Research Company. The strong increase of global retail systems, especially in developing countries, is expected to be the main driving force to help drive the 3PL logistics market to grow strongly in the coming year. In recent years, the retail system and e-commerce in general have changed the consumption habits of most global people.

In addition, the increasing rate of internet usage shows that a clear shift to the “virtual world” is taking place. Many international retail businesses with headquarters in many countries have actively implemented online – offline combinations to expand brand coverage. As a result, 3PL logistics service providers can take advantage of opportunities and promote end-to-end freight services such as warehouse leasing, inventory management, packaging, express delivery…

According to a report by Business Research Company, global 3PL logistics is expected to grow from $900 billion in 2021 to $990 billion in 2022. The compound annual growth rate (CAGR) is 9.4%. The global industry share is expected to reach $1,410 billion by 2026 at a compound annual growth rate (CAGR) of 9.2%.

Currently, third-party logistics (3PL) consists of three main segments, divided by type of service, mode of transport and by industry. Specifically, the type of 3PL service includes transportation under a dedicated contract; domestic and international transport management; Warehouse; distribution and other types of services. Modes of transport include rail, road, water and air. The 3PLs are aimed mainly at industries related to life such as technology, cars, retail, necessities, food and health care products…

In particular, the future 3PL logistics trend is predicted to increase the use of artificial intelligence (AI). This modern technology is increasingly being used by industry logistics businesses and retailers. In addition to optimizing transportation routes and managing fleets, AI also supports intelligent classification of packages by size, weight … helping businesses save time, costs, and effective labor.

For example, there is the case of Verte, an e-commerce service company based in the US, which has launched an omni-channel supply chain platform with integrated AI technology for retailers and service providers. 3PL logistics services. Verte technology solutions provide real-time supply chain insights.

The results obtained are analyzed based on centralized data to ensure the transparency of the supply chain. This platform will provide aggregated data solutions to solve inventory-related problems, meet customer needs, enable retailers, store owners, logistics enterprises 3PL and network operators operate more efficiently.


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