At 5.6% CAGR, Global 4PL Logistics Market Size Will Reach USD 84.43 Billion by 2026: Facts & Factors
According to the [225+ Pages] research report; the global 4PL Logistics Market in 2019 was approximately USD 57.65 Billion. The market is expected to grow at a CAGR of 5.6% and is anticipated to reach around USD 84.43 Billion by 2026. Top market players are C.H Robinson Worldwide, Ltd., CEVA Logistics, Accenture Consulting, XPO Logistics, Inc. and others.
New York, NY, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled *“4PL Logistics Market by Type (Synergy Plus Operating Model, Solution Integrator Model and Industry Innovator Model): Global al Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”*.
According to the research study, the global 4PL Logistics Market was estimated at USD 57.65 Billion in 2019 and is expected to reach USD 84.43 Billion by 2026. The global 4PL Logistics Market is expected to grow at a *compound annual growth rate (CAGR) of 5.5%* from 2019 to 2026.
Supply chain logistics can be defined as the management of resources including procurement, storage, and transportation of resources to the receiving end. The fourth party logistics is the latest innovative form of supply chain outsourcing. It is a complete transfer of overall logistics management and not only the logistics task. The fourth party logistics offers various functionality in the management of inbound dynamic logistics, raw material supply, and demand-driven logistics.
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*Key Offerings:*
· Market Size & Forecast by Revenue | 2020−2026
· Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
· Market Segmentation – A detailed analysis by product, types, end-user, applications, segments, and geography
· Competitive Landscape – Top key vendors and other prominent vendors
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A large section of logistics customers and industrial manufacturing companies seek logistics service providers with high management capabilities and services for the management of inbound supplies. The inbound logistics handling requires a holistic solution for the management of all types of required material as well as the packaging need. The growing challenges and complexities in supply chain management have resulted in increased demand for outsourced logistics services. The 4PL services are intended to handle entire logistic management and are a major factor that is propelling the growth of the fourth party logistics market.
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Additionally, the manufacturers and retailer/distributors are seeking the incorporation of effective logistics services for inbound procurement and supplier collaboration management. These developments are further expected to propel the fourth party logistics market growth in the foreseeable future.
*Top Market Players*
Major players operating in the global 4PL logistic market mentioned in this report include C.H Robinson Worldwide, Ltd., CEVA Logistics, Accenture Consulting, XPO Logistics, Inc., 4PL Insights, LLC., Global4PL Supply Chain Services, Panalpina World Transport (Holding) Ltd., Deloitte Touche Tohmatsu, and 4PL Group and Logistics Plus Inc.
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The solution integrator model is expected to continue dominance over the forecast period. In this model, the 4PL service providers offer end-to-end supply chain solutions to the customer. This market growth is owing to the range of services provided under this model to the client leading to increased demand for the solution integrator model-based 4PL services. This model finds major demand from the food and beverage industry.
*4PL Logistics Market: Key Segments*
*Global 4PL Logistics Market: By Type Segmentation Analysis*
· Synergy Plus Operating Model
· Solution Integrator Model
· Industry Innovator Model
The rising challenges and complexities in the management of supply chains demanding for outsourced logistics services are the primary driver that is propelling the growth of the fourth party logistics market. Additionally, the increasing need for an economic and effective supply chain management system benefitting both in and outsourcing are additional drivers leading to market growth.
Browse the full *“4PL Logistics Market by Type (Synergy Plus Operating Model, Solution Integrator Model, and Industry Innovator Model): Global al Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026"* report at https://www.fnfresearch.com/4pl-logistics-market-by-type-synergy-plus-operating-1117
However, hesitance towards acquiring outsourced logistics by companies in consideration of reduced control over the supply chain hampers the expected market growth.
The 4PL logistics market research report delivers an acute valuation and taxonomy of the 4PL logistics industry by practically splitting the market based on type and region. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
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The e-commerce sector in the ASEAN countries is comparatively underdeveloped as compared to economies such as the U.S., Europe, and China. Numerous initiatives have been introduced across the ASEAN region to support the market growth, such as the ASEAN ICT Master plan 2015, and ASEAN Broadband Corridor. Additional initiatives are taken by individual governments to support the growth of e-commerce. Initiatives of the Chinese government to tackle logistics issues related to export through e-commerce. These initiatives generate multiple opportunities to the fourth party logistics-based companies located in the region, thus providing future growth prospectus for the growth of the fourth-party logistics market.
*Key Insights from Primary Research*
· Extensive interviews with CXO’s of the major companies operating in the global 4PL logistics market, the primary research concludes that the global 4PL logistics market to witness a substantial growth of nearly 5.6% over the forecast period.
· In the year 2019, the market was valued at approximately USD 57.65 Billion, 2019 and is expected to be valued at over USD 84.43 Billion by 2026.
· On the basis of the type segment, the solution integrator model is expected to exhibit the highest growth rate during the forecast period. The model is also expected to remain the leading model during the forecast period.
· Asia Pacific region is expected to be the fastest-growing region for 4PL logistics over the forecast period. Multiple initiatives by individual governments in this region have propelled the market growth in this region.
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