According to Qualiket Research, Global Fourth Party Logistics Market was valued at USD 55.03 billion in 2018, which is expected to reach 83.17 by 2030 at a CAGR 5.3%.
Logistics is the management of acquiring, storing, and transporting of resources to final destination. Fourth party logistics is the most innovative type of outsourcing. Also, fourth party logistics has lot to offer such as management of dynamic logistics, inbound raw material supply, demand driven logistics, and global orchestrator.
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Market Drivers:
- Rapid growth towards innovation and integration is the key driving factor for the global fourth party logistic market which is expected to boost the market growth during this forecast period. Furthermore, rise in complexities in operation process and rise in demand for customized solutions will have the positive impact on global fourth party logistics market growth. Moreover, increase in demand for fourth party logistics in high-tech consumer electronics and medical equipment industry is expected to fuel the growth of global fourth party logistics market.
Key players:
· CEVA Logistics, Logistics Plus Inc., Global4PL Supply Chain Services, Deloitte Touche Tohmatsu, Panalpina World Transport (Holding) Ltd., 4PL Insights LLC, XPO Logistics, Inc., Accenture Consulting, and C.H Robinson Worldwide, Ltd.
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