Description
This report provides a comprehensive analysis of global and regional logistics costs and third-party logistics market trends as of early 2024. After reaching a peak of nearly $1.5 trillion in 2022, global 3PL revenues declined 18.5% to an estimated $1.2 trillion in 2023 — still 25.3% above pre-pandemic 2019 levels — as transportation rates deflated, inventories normalized, and central banks tightened monetary policy to combat inflation. The report examines logistics costs and 3PL revenues across all major regions and countries, with Asia Pacific, North America, and Europe accounting for the largest shares. India and ASEAN emerge as the fastest-growing markets, while nearshoring trends continue to benefit Mexico and Southeast Asia as companies diversify supply chains away from single-source dependence on China.
Armstrong & Associates projects the global 3PL market will recover to approximately $1.5 trillion by 2026, growing at a 6.4% CAGR, as total global logistics spending reaches an estimated $13.3 trillion. The report includes detailed segment analysis across Transportation Management, International Transportation Management, and Value-Added Warehousing and Distribution — with VAWD being the only segment to post positive growth in 2023. A special focus on the technology vertical industry examines how 3PLs are serving high-value, high-complexity supply chains in semiconductors, electronics, and related sectors, where demand for specialized logistics capabilities continues to intensify.
This report is part of A&A’s premium market research Expert Information Service (E.I.S.). (Note: This report is downloadable as an Adobe PDF file with a single-user license.)
Click the link to view a sample of this report: Global_3PL_Market_Analysis_Report_2023 – SAMPLE
