According to a new report published by Allied Market Research, titled, โFourth Party Logistics Market,” The fourth party logistics market was valued at $57.9 billion in 2021, and is estimated to reach $111.7 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.
Fourth party logistics, popularly known as 4PL, is the model of outsourcing of logistics operations, where the service provider integrates with the companyโs supply chain department. This logistics partner is responsible for assessing, designing, building, running, and measuring integrated supply chain solutions for the organization. It is rapidly emerging as the most innovative form of outsourcing & connecting a complex logistics structure for ease of operation. It handles the complete process-to-pay workflow, including the management of inbound raw material supply, dynamic logistics, demand-driven logistics, and global distribution. It also controls storage, packaging, and timely delivery of crucial and perishable products. global shift toward dynamic logistics, especially in consumer goods, food and beverage, and medical equipment, presents a large-scale opportunity for the fourth party logistics market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/3120
For instance, in August 2021, Primary Connect entered into a partnership with Walter & Wild, a leading food manufacturing company, to manage the collection & distribution of Walter & Wildโs brands, such as Hubbards, I Love Food, Aunt Bettyโs, Hansells, Vitafresh, and Alfa One across storage facilities in New Zealand. The partnership serves as a great opportunity for Primary Connect to improve efficiencies for Walter & Wild with reduced transport costs by consolidating pick-ups from Walter & Wildโs Christchurch storage facility.
In addition, the fourth party logistics market has witnessed significant growth in recent years, owing to the improved customer service, reduction in operating costs, and emergence of a large number of manufacturers & regional logistics operators. Furthermore, the companies operating in the 4PL market have adopted partnerships, acquisitions, and business expansions to increase their market share and expand their geographical presence. For instance, in November 2021, Rhenus Group acquired Global Net Logistics, an international freight forwarder company based in Texas, U.S., to strengthen its road freight services and air & ocean solutions in the southwest region of the U.S. and provide door-to-door solutions to the customers.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/fourth-party-logistics-market/purchase-options
Increase in demand for easy & effective supply chain system and increase in the complexities in the operation process propel the growth of the fourth party logistics market. In addition, rise in demand for customized solutions is also expected to drive the market growth. However, reluctance of companies to outsource the logistics function and changes in logistics regulations in different countries are expected to hinder the growth of the market. Further, increase in demand for consumer electronics and growth in the e-commerce market are anticipated to foster the market growth.
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By type, the industry innovator model segment dominated the global fourth party logistics market, in terms of growth rate.
On the basis of end user, the consumer electronics segment is anticipated to exhibit a remarkable growth during the forecast period.
By region, Europe is anticipated to exhibit a remarkable growth during the forecast period.
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๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
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.
XPO Logistics, Inc.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Food Logistics Market : https://www.alliedmarketresearch.com/food-logistics-market-A15470
Energy Logistics Market : https://www.alliedmarketresearch.com/energy-logistics-market-A07811
Rail Logistics Market : https://www.alliedmarketresearch.com/rail-logistics-market