Europe Third Party Logistics Market
Europe Third Party Logistics Market Size, Share, Growth, Emerging Trends, Investment Opportunities and Forecast To 2026
According to Verified Market Research, the Europe Third Party Logistics Market was valued at USD 82.27 Billion in 2018 and is expected to witness a growth of 3.97% from 2019-2026 and reach USD 109.42 Billion by 2026.
Third Party Logistics can be defined as a business process by which companies outsource logistics and distribution functions to a specialized logistics service provider. Third Part Logistics includes transportation, warehousing, freight as well as forwarding. Several third-party logistics operators also offer to integrate and customize their services for the individual needs of the customer.
The growing complexity that is involved in the In-house logistics operations is leading to an increased need for shippers to use other methods by which to carry out the logistics part of the operation. Various complexities regarding in house logistics span from factors such as difficulties in fleet management, the shortage of skilled drivers, a lack of IT infrastructure such as track management systems, and operational issues are some of the challenges shippers face in managing in-house logistics.
Manufacturing companies worldwide are expanding their production capacities and operations, which increases their logistics requirements in terms of transporting raw materials to factories and finished goods to retailers and distributors. This increases the complexity of the supply chain management for manufacturing companies, which has led to an increasing number of manufacturers to outsource their supply chain management functions to third-party logistics providers partially or completely.
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