Third-Party Logistics Market: Europe Region is Expected to Grow Exponentially By 2026
Category: #business  By Ronak Bora  Date: 2021-08-09
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Third-Party Logistics Market: Europe Region is Expected to Grow Exponentially By 2026

Europe third-party logistics market is expected to witness major growth over the projected timeframe. Rapid internet penetration, improved economic conditions, and steady development of the manufacturing sector across the region are favoring industry growth. For instance, in 2019, the United Kingdom became the 9th largest manufacturing nation in the world with an annual output revenue of around USD 192 billion. European free trade agreements with major countries across the globe are further contributing towards the industry expansion.

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In a bid to cater to the heavy product demand from consumers, various companies are outsourcing their logistics activities to third-party suppliers. Third-party logistics services aid e-commerce businesses to ensure timely deliveries and handle issues of warehousing, tracking, shipping, packaging, delivery and inventory. Additionally, one of the prime advantages of outsourcing logistics services from a third-party vendor is that it helps enterprises to focus on core business activities.

Shifting trends towards blockchain, IoT, and cloud computing are expected to create favorable conditions for industry expansion. Moreover, easy availability of enhanced digital technology solutions and low-cost services may foster third-party logistics market size over the coming years. Third-party logistics industry size is touted to cross the USD 1.8 trillion mark by 2026.

Globalization trends and rising trade activities across the globe are offering lucrative opportunities for third-party logistics market expansion. Various advanced software solutions, including cloud ERP and SCMs are being adopted by companies for logistics applications. These software solutions showcase beneficial features, such as warehouse management, online documentation for international freight, inventory tracking, and real-time data tracking. Growing adoption of these software to boost operational efficiency will change third-party logistics business scenario.

Third-party logistics service providers are continually transforming the supply chain management system across emerging markets. Retailers always aim at maximizing operational efficiency and improving profitability of their customers and these services enable retailers to add value, as well as enhance engagement with their customers. On the global level, third-party logistics service providers are broadening their service offerings, investing in new technology, and extending geographical reach to boost their market share, and delivering data-driven solutions.

Major market players contributing towards third-party logistics market expansion include UPS Supply Chain Solutions, FedEx, DHL, Nippon Express, DB Schenker, C.H. Robinson, UPS, XPO Logistics, JB Hunt, Kuehne + Nagel, Expeditors International,  Expeditors International, CEVA Logistics, Dachser, Sinotrans, SNCF Geodis, Panalpina, Gefco, Deutsche Post DHL, and Kintetsu World Express.

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Some Point from Table of Contents:

Chapter 4.    Third-Party Logistics Market, By Solution

4.1.    Key trends by solution

4.2.    Dedicated Contract Carriage (DCC)

4.2.1. Market estimates and forecast, 2016 – 2026

4.3.    Domestic Transportation Management (DTM)

4.3.1. Market estimates and forecast, 2016 – 2026

4.4.    International Transportation Management (ITM)

4.4.1. Market estimates and forecast, 2016 – 2026

4.5.    Warehousing & distribution

4.5.1. Market estimates and forecast, 2016 – 2026

4.6.    Logistics software

4.6.1. Market estimates and forecast, 2016 – 2026

Chapter 5.    Third-Party Logistics Market, By Mode

5.1.    Key trends by mode

5.2.    Air

5.2.1. Market estimates and forecast, 2016 – 2026

5.3.    Sea

5.3.1. Market estimates and forecast, 2016 – 2026

5.4.    Rail & road

5.4.1. Market estimates and forecast, 2016 – 2026

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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