Third-party logistics market forecast: Global Market Insights
Nine per cent growth forecast from 2020 to 2026, e-commerce is a key driver
The Third-Party Logistics Market is set to grow from its current market value of more than US$1 trillion to over US$1.8 trillion by 2026; as reported in the latest study by Global Market Insights, Inc. Rapid globalisation, increasing consumerism and expanding e-commerce sector are some of the key factors driving third-party logistics market outlook.
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.
Several logistics firms have stepped in the market to offer solutions & services, primarily to the e-commerce industry. For instance, Orio Logistics is offering third-party logistics services for the e-commerce industry, ensuring flexible, fast distribution, as well as efficient returns management.