Third-party Logistics Market Scope, Size, Implementation, Analytical Overview, Forecast 2030

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Third-party Logistics Market
Third-party Logistics Market 

Third party logistics (TPL or 3PL) is a service provider that a company outsources in supply chain management or logistics. Increasing trade globalisation provides manufacturing companies with a global networking platform. Companies are primarily concerned with maintaining productivity and, as a result, rely on Third-party Logistics Market to meet their transportation and packaging needs. As a result, the market for third-party logistics has expanded. One of the major drivers of growth in the global third party logistics market is the expanding e-commerce industry.

Several e-commerce companies that use the online platform to sell their products lack their own logistics services. This also contributes to increased Third-party Logistics Market demand. A growing number of startups are unable to afford their own logistics services, driving up demand for third-party logistics. Furthermore, the convenience of shopping online is increasing the adoption of online shopping by a growing number of customers worldwide, which is expected to fuel the growth of third-party logistics services in the e-commerce industry.

Geographically, the global third party logistics market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific market dominated the global third party logistics for market in 2016 and is expected to continue to do so throughout the forecast period. Increasing disposable income, rising investment by e-commerce leaders, and rising internet penetration are propelling the e-commerce industry in emerging economies such as India and China to new heights. This, in turn, is expected to drive growth in the Asia Pacific Third-party Logistics Market. North America also has the largest share of the third-party logistics for market, owing to rising demand in the automotive and ecommerce sectors. The United States and Canada are the region's major growth engines. Rising demand for low-cost and quick-delivery services is also fueling the third-party logistics for market in the United States.

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