Global Forth Party Logistics Market is valued approximately USD 57.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.7 % over the forecast period 2022-2028.
The Forth Party Logistics, also known as 4PL, it acts as intermediate between organization as service providing company this is a modern way for business owner to outsource the supply chain to external service providing service organization. Forth Party Logistics is responsible for readies, coordinated and manage all different responsibility of assessing, planning, designing, running, building supply chain solution in behalf of the firm. Demand of the effective and smooth supply chain is increasing the market of 4PL. Manufacturing different product and spread globally due to which wider network and connection has been created with company. And organization have to handle multiple online and offline channels across the globe. The increasing demand of innovative IT solution driving the growth of this market. Logistic solution pays more attention on their product that helps in on time delivery and order fulfilment. Hence, gives time to the organization manager to focus on core problems. Growth of E-Commerce is the biggest opportunity for 4PL to grow in upcoming period. Growing electronic industry market gives the manufactures the solution of doorstep delivery to customer with the help of forth party logistic. Meanwhile according to the Ministry of Electronica and Information Technology the global e-commerce market is approx. USD 26.7 trillion in 2019. However, regulations regarding logistics impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Forth Party Logistics study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share. Factors such as rapid increasing of industry and technological advancements in the manufacturing with the early adopting digitization in the region giving the boost in the global 4PL market. Whereas, South Asia expected to grow fastest with the CAGR of 5.3% due to the government support in improvement of technologically connected infrastructure that helps in advancing into transport and logistic hubs.
Major market players included in this report are:
C.H. Robinson Worldwide, Inc.
XPO Logistics, Inc.
Panalpina World Transport (Holding) Ltd.
Deloitte Touche Tohmatsu LLC
Logistics Plus Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Industry Innovator Model
Solution Integrator Model
Synergy Plus Operation Model
By End User
Aerospace and Defence
Food and Beverages
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Forth Party Logistics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers