Fourth Party Logistics Market Accounted to US$ 54.06 Bn in 2018 and Is Expected to Grow at a CAGR of 5.2% During the Forecast Period 2019 - 2027
The research report evaluates the Fourth Party Logistics market in an all-inclusive manner by explaining the prime characteristics of the market that is likely to have a quantifiable influence on its progressive scenarios over the forecast period.
Pune, India -- (SBWire) -- 03/30/2019 --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.
The global fourth party logistics market accounted to US$ 54.06 Bn in 2018 and is expected to grow at a CAGR of 5.2% during the forecast period 2019 - 2027, to account to US$ 84.17 Bn by 2027.
Segment by Type Insights
The global fourth party logistics market by type was led by solution integrator model segment. The other type of fourth party logistics model include Synergy Plus Operating Model and Industry Innovator Model. The industry innovator model comprises of highest complexity and therefore incurs higher costs to the customers, leading to its slow growth over the forecast period in the fourth party logistics market.
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Segment by End-User Insights
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.
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.
GLOBAL FOURTH PARTY LOGISTICS - MARKET SEGMENTATION
Fourth Party Logistics Market - By Type
Synergy Plus Operating Model
Solution Integrator Model
Industry Innovator Model
Fourth Party Logistics Market - By End-User
Food and Beverage
Aerospace and Defense
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