Global Market Size of 5PL – 10 Year Market Forecast

Logistics

5PL Market Size Forecast 2022-2029

From 2022 to 2029, the global fifth-party logistics (5PL) market is expected to grow at a CAGR of 3%, from $ 1.87 billion in 2021 to $ 2.37 billion in 2029. The Asia-Pacific region will hold the largest share of the global 3PL market in 2021. A fifth-party logistics (or 5PL) system is one in which a company (the client) outsources all of its supply chains to a logistics service provider. The 5PL company is in charge of planning, organizing, and implementing the logistics solutions for the client.

Frequently Asked Questions(FAQ)

• What is Global Market Database?

• Global market database studies the ongoing trends within the market and updates the market information on a quarterly basis.
• What is 5PL in supply chain?

• A 5PL system is one in which a company (the client) outsources its entire supply chain to a logistics service provider.
• 5PL is the abbreviation of what?

• Fifth party logistic model is the full form of 5PL.
• What are the 3 types of logistics?

• inbound, outbound, and reverse logistics are the 3 types.
• What is the cumulative market size of 5PL?

• 17 is the market size of 5PL.

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