Fourth Party Logistics (4PL) Market: Industry Innovator Model Type to Grow at a CAGR of 11.2% from 2022 to 2031

PORTLAND, ORAGON, USA, Sept. 12, 2022 /EINPresswire.com/ — According to a new report released by Allied Market Research titled “Fourth Party Logistics Market”, the fourth party logistics market was valued at 57.9 billion in 2021, and is projected to reach $111.7 billion by 2031, growing at a CAGR of 6.7% from 2022 to 2031.

Fourth party logistics, known as 4PL, is the model of outsourcing logistics operations, where the service provider integrates with the company’s supply chain department. This logistics partner is responsible for evaluating, designing, building, executing, and measuring integrated supply chain solutions for the organization. It is rapidly emerging as the most innovative form of outsourcing and connecting a complex logistics structure for ease of operation. It manages the entire process-to-payment workflow, including inbound raw material supply management, dynamic logistics, demand-driven logistics, and global distribution. It also controls the storage, packaging and timely delivery of critical and perishable products. The global shift towards dynamic logistics, especially in consumer goods, food & beverage, and medical equipment, presents a large-scale opportunity for the fourth party logistics market. For example, in August 2021, Primary Connect entered into a partnership with Walter & Wild, a leading food manufacturing company, to manage the collection and distribution of Walter & Wild brands, such as Hubbards, I Love Food, Aunt Betty’s, Hansells, Vitafresh, and Alfa One in storage facilities in New Zealand.

Main determinants of growth-

Rise in demand for simple and efficient supply chain system, rise in complexity of operation process and rise in demand for customized solutions propel the growth of logistics market by fourth part. However, the reluctance of companies to outsource logistics function and changes in logistics regulations in different countries are expected to hamper the growth of the market. On the other hand, increasing demand for consumer electronics and growing e-commerce market are expected to present new opportunities in the coming years.

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Covid-19 scenario

The outbreak of the Covid-19 pandemic has negatively impacted the global fourth party logistics market, owing to the implementation of global lockdown and strict import and export restrictions.
Important supply chains in the logistics and transport industry have been hampered, although differently depending on the air, freight and maritime sectors. Logistics companies, involved in the movement, storage and flow of goods, have been directly affected by the COVID-19 pandemic.
Additionally, changes in consumer buying behavior due to uncertainties related to the pandemic could have a significant impact on the growth of the 4PL logistics market.
With increasing internet penetration and smartphone usage, an increasing shift towards online shopping has been seen among consumers during the lockdown. This has led to a large-scale change in consumer behavior, preferences and expectations regarding shopping and shipping deliveries. Hence, growth has normalized from 2021 and the market is expected to grow at a steady rate from 2021 to 2031.

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The Solutions Integrator Model Segment to Maintain Its Leading Status Throughout the Forecast Period

Based on type, the solution integrator model segment held the highest market share in 2021, accounting for approximately three quarters of the global fourth party logistics market, and is expected to maintain its leading status throughout throughout the forecast period. Increased customer retention and open opportunities such as up-selling and cross-selling component products or services are expected to fuel the adoption of the solution integrator model in enterprises. However, the industrial innovation model segment is expected to show the highest CAGR of 11.2% from 2022 to 2031. Rapid industrialization and digitalization have increased the demand and adoption of the industrial innovation model, which is the engine of the segment.

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Asia-Pacific to maintain dominance by 2031

Based on region, Asia-Pacific, followed by Europe and North America, held the highest market share by revenue in 2021, accounting for more than two-fifths of the global fourth party logistics. This is attributed to the rise of the e-commerce industry in emerging economies. Additionally, increased adoption of outsourced logistics services in the region is driving the growth of the Asia-Pacific 4PL logistics market. However, Europe is expected to experience the fastest CAGR of 8.4% from 2022 to 2031. This is due to the growth of e-commerce, retail sector and manufacturing sector coupled with digitalization of infrastructure in European countries.

Key Market Players:-

4PL group
4PL information
Accentur Consulting
Allyn International Services, Inc.
CH Robinson Worldwide, Ltd.
CEVA Logistics
DAMCO
DB Schenker
Deloitte
Deutsche Post AG
GEFCO Group
Global4PL Supply Chain Services
Logistics Plus Inc.
Panalpina Global Transport
United Parcel Service, Inc.
XPO Logistics, Inc.

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Similar reports we have on the logistics industry –

3PL Market – https://www.alliedmarketresearch.com/3PL-market

5PL Solutions Market – https://www.alliedmarketresearch.com/fifth-party-logistics-solution-market-A14785

Logistics Industry – https://www.alliedmarketresearch.com/logistics-market

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Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global corporations as well as small and medium enterprises with unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. Allied Market Research CEO Pawan Kumar helps inspire and encourage everyone associated with the company to maintain high quality data and help clients in every way possible to achieve success. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data acquisition methodology includes extensive online and offline research and discussions with knowledgeable professionals and analysts in the field.

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Allied Analytics LLP
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