APAC Third Party Logistics Market Size 2024- Industry Share, Upcoming Trends, Revenue, Growth Strategy, Business Challenges, Opportunities and Future Competition till 2033: SPER Market Research
Supply chain logistics services, including transportation, warehousing, picking and packing, inventory forecasting, order fulfillment, and freight forwarding, are provided by third-party logistics (3PL) companies. Third-party logistics (3PL) services enable companies to focus on their core capabilities by outsourcing operational logistics, from delivery to warehousing.
According to SPER market research, ‘Asia-Pacific Third Party Logistics Market Size- By Type, By Service, By Transport, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the APAC Retail Logistics Market is predicted to reach USD 557.77 billion by 2033 with a CAGR of 9.68%.
Drivers:
The growing use of logistics in a range of industries, such as e-commerce, construction, retail, automotive, food and beverage, and hospitality, along with the introduction of technological advancements like enterprise resource planning (ERP), supply chain management (SCM), transportation management systems (TMS), and international trade logistics systems (ITLS), are expected to drive growth in the Asia-Pacific third-party logistics market. In order to get a competitive edge, the big players in the market, including Amazon, Alibaba, and Rakuten, are also focusing on improving their customer service by offering same-day delivery and easy returns. By building the infrastructure for logistics services, the companies want to improve the third-party logistics market in Asia-Pacific throughout the course of the projected period.
Challenges:
One of the region’s primary issues is its vast geographic breadth, which encompasses a range of countries with varying degrees of infrastructural development. This geographic variance adds complexity to logistics operations, which leads to issues like inconsistent service quality, higher pricing, and delayed transportation. Furthermore, the complex legislative frameworks of the several countries in the region create challenges with regard to taxes, customs, and compliance requirements, which hinder efficient logistical operations. In addition, the rapid growth of the e-commerce sector in the Asia-Pacific area has raised demand for efficient and scalable logistics solutions. The surge in online shopping has made logistics providers more competitive, and in order to meet evolving customer expectations, continuous innovation and technical investment are required.
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Impact of COVID-19 on APAC 3PL Market
The unexpected COVID-19 pandemic outbreak caused issues for third-party logistics in the Asia-Pacific area. The governments of the Asia-Pacific area implemented a lockdown that stopped major enterprises from operating, including manufacturing and e-commerce, which led to a sharp decrease in the need for third-party logistics. The temporary bans on the sale of non-essential goods and the closure of highways and other transportation infrastructure had a detrimental effect on the Asia-Pacific third-party logistics market. However, the healthcare industry saw a strong rise in the use of third-party logistics for the delivery of PPE kits and vaccines, among other medical necessities, which greatly expanded the market during this time.
Asia Pacific E-commerce Logistics Market Key Players:
Additionally, some of the market key players are; DSV, Expeditors International of Washington, Inc., FedEx, Kintetsu World Express, Inc., Kuehne+Nagel, Nippon Express Co., Ltd., Samudera Shipping Line Ltd, Schenker AG, Singapore, SNCF, Toll Holdings Limited (a subsidiary of Japan Post Holdings Co.,Ltd.), United Parcel Service of America, Inc., XPO Logistics, Inc.
Asia Pacific Warehouse Logistics Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Service: Based on the Service, Asia-Pacific Third Party Logistics Market is segmented as; Dedicated Contract Carriage (DCC)/Freight forwarding, Domestic Transportation Management (DTM), International Transportation Management (ITM), Warehousing &Distribution (W&D), Value Added Logistics Services (VALs).
By Transport: Based on the Transport, Asia-Pacific Third Party Logistics Market is segmented as; Roadways, Railways, Waterways, Airways.
By End User: Based on the End User, Asia-Pacific Third Party Logistics Market is segmented as; Manufacturing, Retail, Healthcare, Automotive, Others.
By Region: This research also includes data for Australia, China, India, Japan, South Korea, Rest of Asia-Pacific.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
APAC Third Party Logistics Market Future Outlook
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