The global fourth party logistics market to reach $84.17 Billion by 2027 from $54.06 Billion in 2018 to grow at a CAGR of 5.2% during (2019-2027).
PUNE, MAHARASHTRA, INDIA, January 23, 2020 /EINPresswire.com/ — This report focuses on the Fourth Party Logistics Market Size, Revenue, Share, status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Fourth Party Logistics development in North Americas, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SA).
New market initiatives were observed as the most adopted strategy in global fourth party logistics industry. Few of the recent market initiatives are listed below:
2019: Logistics Plus Inc. Opened New "Logistics Plus Chemical SCM" Entity in India which will bring a full suite of 3½PL and 4PL solutions to petrochemical and chemical companies located in India.
2019: Deutsche Post DHL Group has concluded the landmark deal to transfer its supply chain operations in Mainland China, Hong Kong and Macau, herein after referred to as "China" to SF Holding ("SF"), a leading premium logistics service provider in the country.
2018: GEFCO launched global mission control centre for Time Critical Freight Forwarding solutions. Innovative Centre is expected to provide global operational support, control and coordination of time critical solutions shipments.
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Fourth Party Logistics Market – Company Profiles:
• Allyn International Services, Inc.
• CEVA Logistics AG
• DB Schenker
• Deutsche Post AG
• GEFCO Group
• LOGISTICS PLUS Inc.
• UPS Supply Chain Solutions (United Parcel Service, Inc.)
• XPO Logistics Inc.
The fourth party logistics market by end-user is segmented into Aerospace and Defense, Automotive, Consumer Electronics, Food and Beverage, Industrial, Healthcare, Retail, and Others. Fourth Party Logistics industry is growing at a high rapid pace and successfully introduces new advancements.
In a dynamic era, manufacturers are developing diversified product categories, packaging designs, and numerous logistics arrangements which results into astounding amount of complexity creation in the form of expanding product variations, fragmented channels, and rising customer demands for the tailored solutions. Therefore, it is projected to create tremendous opportunities for lead logistics providers in the fourth party logistics market. This are efficient in managing entire supply chain, starting from packaging till last mile delivery.
The high-tech consumer electronics and the medical equipment markets today are highly driven by diverse consumer demands coupled with customization features. Strategies such as build-to-order and postponement are often deployed for selling products from the high-tech electronic verticals by many retailers, websites, resellers etc.
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In many scenarios faced by consumer goods and retail sectors, a customer orders large volumes of products that might be sourced at different locations. These diverse products need to be assembled first, and then need to be shipped to the consumer at the earliest possible timelines. Fulfillment of such demands requires the deployment of a highly sophisticated and Omni-channel supply chain approach by the logistics service provider. This factor is anticipated to provide huge opportunities to the players operating in the fourth party logistics market.
Asia-Pacific was the leading geographic market and it is anticipated to be the highest revenue contributor throughout the forecast period. The huge population, growing disposable incomes, rising domestic consumption and lower costs are some of the factors attributing to the growth of e-commerce sector in countries like China, India, Taiwan, Japan and South Korea, which is further expected to fuel fourth party logistics market in this region.
Third Party Logistics Market to 2025 – https://www.theinsightpartners.com/reports/third-party-logistics-market
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Automotive Logistics Market to 2027 – https://www.theinsightpartners.com/reports/automotive-logistics-market
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Source: EIN Presswire