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South Korea Third-Party Logistics (3PL) Market Research Report: Forecast (2024-2030)

South Korea Third-Party Logistics (3PL) Market Report - By Type (Contractual 3PL, Non-contractual 3PL), By Solution (Transportation Management, Warehousing & Distribution, Dedicated Contract Carriage... ... d Contract Carriage [DCC], Logistics Software, Others), By Transportation Mode (Rail, Road, Air, Sea), By End User Industries (Manufacturing, Healthcare & Pharmaceuticals, Retail & E-commerce, Automotive, Consumer Goods, Food & Beverage) and Others Read more

Automotive
Aug 2024
Pages 126
Report Format: PDF, Excel, PPT

Market Definition

Third-party logistics is a business that specializes in handling various aspects and operations of the supply chain of outsourced logistics services such as distribution, warehousing, and fulfillment, for multiple industries on a contractual and non-contractual basis.

Market Insights & Analysis: South Korea Third-Party Logistics (3PL) Market (2024-30):

The South Korea Third-Party Logistics Market size is valued at around USD 18.5 billion in 2024 & is estimated to reach around USD 32 billion by 2030. The market is also expected to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30. The market in South Korea is experiencing robust growth driven by economic recovery, a rise in industrial production, an increase in consumer, and overall expansion in various industries such as manufacturing, healthcare & pharmaceuticals, retail & e-commerce, automotive, consumer goods, food & beverages, etc. Such developments in the economy and across industries will boost the growth of 3PL services in the country. The services offered by 3PL in South Korea include transportation management, warehousing & distribution, dedicated contract carriage, logistics software, and others, these services are necessary for these industries due to their objective of achieving operational efficiency.

Report Coverage	Details
Historical Years	2019-22
Base Years	2023
Forecast Years	2024-30
Market Value in 2024	USD 18.5 Billion
Market Value (2030)	USD 32 Billion
CAGR (2024-30)	9.8%
Top Key Players	Hyundai Glovis, SEBANG, Daewoo Logistics, Yusen Logistics, Sunjin Logistics, Kuehne + Nagel, CTSI Logistics, Lotte Global Logistics, Omni Logistics, DSV, and Others
Key Report Highlights	Market Dimensions & Projections Pricing Evaluation, Recent Strategic Moves by Companies, Primary Stakeholders, Analysis of Import and Export Trends, Competitive Landscape Assessment, Emerging Opportunities, Market Trends and Indicators

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Moreover, the rapid rise in e-commerce platforms has propelled the market growth. The prospects associated with market growth improve further as the country is a developed economy with well-developed infrastructure and a skilled workforce, and the availability of the online payment medium adds reliable aspects to the value chain. Additionally, advancements in technologies such as data analytics, machine learning, Internet of Things (IoT), robotics, cloud computing, and artificial intelligence (AI) present the market an opportunity to further improve their operational efficiency, and reliability, and add value to the supply chain.

Additionally, structural challenges such as an increasing elderly population, falling fertility rate, and declining population present significant obstacles to market growth & expansion, as logistics is a human capital-intensive industry. Also, the decline in the population will negatively impact the productivity, demand, and consumption in the country negatively impacting the market. The adoption of automated AI robots can solve part of the problem and the possible adoption of a skilled immigrant policy as proposed by the OECD to its member countries to mitigate these scenarios. Overall, the recovery in the global economy and the economy of South Korea presents significant growth prospects for the market in the country that is situated near two giant economies.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
South Korea Third-Party Logistics (3PL) Market Trends & Insights
South Korea Third-Party Logistics (3PL) Market Dynamics
1. Drivers
2. Challenges
South Korea Third-Party Logistics (3PL) Market Growth Opportunities & Hotspots
South Korea Third-Party Logistics (3PL) Market Policy & Regulations
South Korea Third-Party Logistics (3PL) Market Outlook, 2019-2030F
1. Market Size & Outlook
  1. By Revenues (USD Million)
2. Market Share & Outlook
  1. By Type
    1. Contractual 3PL- Market Size & Forecast 2019-2030F, USD Million
    2. Non-contractual 3PL- Market Size & Forecast 2019-2030F, USD Million
  2. By Solution
    1. Transportation Management- Market Size & Forecast 2019-2030F, USD Million
    2. Warehousing & Distribution- Market Size & Forecast 2019-2030F, USD Million
    3. Dedicated Contract Carriage (DCC)- Market Size & Forecast 2019-2030F, USD Million
    4. Logistics Software- Market Size & Forecast 2019-2030F, USD Million
    5. Others- Market Size & Forecast 2019-2030F, USD Million
  3. By Transportation Mode
    1. Rail- Market Size & Forecast 2019-2030F, USD Million
    2. Road- Market Size & Forecast 2019-2030F, USD Million
    3. Air- Market Size & Forecast 2019-2030F, USD Million
    4. Sea- Market Size & Forecast 2019-2030F, USD Million
  4. By End User Industries
    1. Manufacturing- Market Size & Forecast 2019-2030F, USD Million
    2. Healthcare & Pharmaceuticals- Market Size & Forecast 2019-2030F, USD Million
    3. Retail & E-commerce- Market Size & Forecast 2019-2030F, USD Million
    4. Automotive- Market Size & Forecast 2019-2030F, USD Million
    5. Consumer Goods- Market Size & Forecast 2019-2030F, USD Million
    6. Food & Beverage- Market Size & Forecast 2019-2030F, USD Million
    7. Others- Market Size & Forecast 2019-2030F, USD Million
  5. By Company
    1. Competition Characteristics
    2. Revenue Shares & Analysis
South Korea Rail Based Third-Party Logistics (3PL) Market Outlook, 2019-2030F
1. Market Size & Outlook
  1. By Revenues (USD Million)
2. Market Share & Outlook
  1. By End User Industries- Market Size & Forecast 2019-2030F, USD Million
South Korea Road Based Third-Party Logistics (3PL) Market Outlook, 2019-2030F
1. Market Size & Outlook
  1. By Revenues (USD Million)
2. Market Share & Outlook
  1. By End User Industries- Market Size & Forecast 2019-2030F, USD Million
South Korea Air-Based Third-Party Logistics (3PL) Market Outlook, 2019-2030F
1. Market Size & Outlook
  1. By Revenues (USD Million)
2. Market Share & Outlook
  1. By End User Industries- Market Size & Forecast 2019-2030F, USD Million
South Korea Sea-Based Third-Party Logistics (3PL) Market Outlook, 2019-2030F
1. Market Size & Outlook
  1. By Revenues (USD Million)
2. Market Share & Outlook
  1. By End User Industries- Market Size & Forecast 2019-2030F, USD Million
South Korea Third-Party Logistics (3PL) Key Strategic Imperatives for Growth & Success
Competitive Benchmarking
1. Company Profiles
  1. Hyundai Glovis
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. SEBANG
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Daewoo Logistics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. Yusen Logistics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Sunjin Logistics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  6. Kuehne + Nagel
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. CTSI Logistics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Lotte Global Logistics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Omni Logistics
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. DSV
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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