The Europe Fourth Party Logistics market is growing along with the Technology, Media and Telecommunications industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
Fourth Party Logistics market in Europe is expected to grow from US$ 15.94 Bn in 2019 to US$ 23.79 Bn by the year 2027. This represents a CAGR of 4.6% from the year 2019 to 2027.
Third party logistics providers, 4PL, represent a higher level of customer supply chain management. 4PL provides customers with a “control tower” view of their supply chain and monitors a combination of warehouses, shipping companies, carriers and agents.
The Manufacturing and Construction sector is a group of industries that includes the majority of companies focused on new technologies. As this industry segment is widespread, it may be convenient to divide TMT into sub-sectors such as hardware, semiconductor, software, media and communications.
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The automotive segment is one of the leading end-users with the second highest market share in Europe fourth party logistics market. The automotive industry is the most crucial sector contributing to economic development. Driven by factors such as globalization and changing market demands, car manufacturers are forced to provide a broad array of the vehicle with new models and options. The automotive industry is presumed to be continually evolving that could lead to complexities in the logistic processes. In a bid to tap on new market opportunities, reduce costs, and thereby maintain competitive advantage, the automotive companies have laid enhanced focus on their logistic strategies off late. Automotive is highly used among the fourth party logistics sector. Car manufacturers use logistic services from the point of production to transportation and delivery. Too efficiently and timely match up with dynamic requirements of customers, need for value-added logistic service is a foremost priority of the industrialist.
These factors are expected to offer broad growth opportunities in the Manufacturing and Construction industry and this is expected to cause the demand for Fourth Party Logistics assays in the market.
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EUROPE FOURTH PARTY LOGISTICS MARKET SEGMENTATION
• Synergy Plus Operating Model
• Solution Integrator Model
• Industry Innovator Model
• Food and Beverage
• Consumer Electronics
• Aerospace and Defense
• Rest of Europe
Fourth Party Logistics Market – Companies Mentioned
• Allyn International Services Inc.
• CEVA Logistics AG
• DB Schenker
• Deutsche Post AG
• GEFCO Group
• Logistics Plus Inc.
• UPS Supply Chain Solutions
• XPO Logistics, Inc.
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