Fourth Party Logistics: Introduction
- Fourth party logistics has a lot to offer in the management of dynamic logistics, inbound raw material supply, and demand driven logistics.
Key Drivers of the Global Fourth Party Logistics Market
- Increasing demand for an easy supply chain procedure from global manufacturers and distributors is driving growth of the fourth party logistics market. Rising demand for inbound logistic services from the manufacturing industry is also driving the market.
- The global e-commerce market is growing at a fast pace. Companies are providing delivery services for small and large products. This process requires fourth party logistic companies, which is expected to drive their demand.
- Companies are providing reduction in overall operating cost, improved customer service, and more flexibility, which is encouraging manufacturing units to opt for logistics vendors.
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Rising Demand from Consumer Electronics to Create New Market Opportunities
- The consumer electronics market is growing at a significant pace at the global level. This factor is driving consumer electronics manufacturers to invest in fourth party logistics vendor companies to provide doorstep delivery services to consumers. It is thus expected to boost the market growth in the coming years.
Changes in Regulations in Different Countries to Hamper the Global Fourth Party Logistics Market
- Governments of different countries have their own policies related to logistics. This factor is creating issues for global companies. Furthermore, changes in custom duty and clearance policy is also expected to hinder market growth.
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Asia Pacific the Dominant Market Set to Grow at a Higher Pace
- Asia Pacific was the largest and fastest growing fourth party logistics market in 2018. Rising number of e-commerce companies in developing economies such as China and India is driving the market growth. Consumers tend to prefer to purchase products online and receive it at their doorstep. This consumer trend is boosting the fourth party logistics market.
- North America accounted for a significant share in the fourth party logistics market. Key companies are operating their global business from this region. Thus, the presence of a large number of corporate companies in this region will work as a positive factor in the fourth party logistics market.
Key Players Operating in the Global Market
The global fourth party logistics market is fragmented in nature. Key market participants are signing strategic partnerships and taking strategic merger and acquisition decisions to increase their global market reach. Moreover, fourth party logistics companies are investing in infrastructure improvements to compete in the market. In 2019, Logistics Plus Inc. started its own distribution center to provide third and fourth party solutions to oil & gas as well as chemical companies. A few of the key players operating in the global fourth party logistics market are listed below:
- Allyn International Services Inc.
- CEVA Logistics AG
- DAMCO
- DB Schenker
- Deutsche Post AG
- GEFCO Group
- GEODIS
- Logistics Plus Inc.
- UPS Supply Chain Solutions
- XPO Logistics, Inc.
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