Market Size of United States 3PL Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 238.20 Billion |
| Market Size (2029) | USD 281.21 Billion |
| CAGR (2024 - 2029) | 3.38 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US (3PL) Third-Party Logistics Market Analysis
The United States 3PL Market size is estimated at USD 238.20 billion in 2024, and is expected to reach USD 281.21 billion by 2029, growing at a CAGR of 3.38% during the forecast period (2024-2029).
COVID-19 has transformed businesses across the world, with greater attention given to supplying chain optimization, growth of 3PL, and meeting essential and non-essential delivery challenges. Building supply chains more resistant to shocks like COVID-19 requires a blended approach by shippers to localized and global sourcing. With the implementation of the lockdown, the transportation sector, upon which supply-chain activities are dependent, has remained partially closed. Consequently, there were constraints to the smooth functioning of the supply chains, and this has had an adverse impact on global business and industrial activities. The shipping industry, which accounts for about 90% of trade activities, was impacted by the pandemic.
The 3PL market in the United States is driven by the increasing level of cross-border trade. The cost benefits of using 3PL are anticipated to boost the growth of the 3PL market. Consequently, 3PLs are going through a digital transformation and are investing in end-to-end solutions and end-to-end visibility to meet growing customer demand.
However, 3PL operators also face various challenges. Firstly, the development of the e-commerce sector and the consequent increase in the demand for services that manage supply chains around the world are expected to pose issues to the operation of the market.
Manufacturers and retailers are focusing on their core competencies and are now more readily subcontracting functions such as logistics to those with the expertise. Thus, the increase in competition has diverted the focus of manufacturers to promote their respective specializations in production and distribution.
Major third-party logistics providers are heavily investing in novel technologies, expanding their service portfolio, and widening their global reach. Software solutions are widely being used by companies for logistics applications.
