The third-party logistics services market in the U.S. and Canada is estimated at about $247.2 billion annually, according to Armstrong and Associates.

From 2021 to 2022, this market grew at a year-over-year rate of 7.9 percent.

The logistics sector is highly fragmented, with thousands of companies of varying sizes competing in domestic and international markets.

As companies’ needs for efficient and cost-effective logistics services have increased, so has the importance and complexity of effectively managing the transportation of goods.

Radiant Logistics reports that companies are increasingly striving to minimize inventory levels, conduct manufacturing and assembly operations in the lowest cost locations, and distribute their products to numerous global markets.

As a result, companies are increasingly turning to third-party logistics providers to help them execute their supply chain strategies.

Radiant Logistics operates as a third-party logistics company, providing global transportation and value-added logistics technology solutions primarily in the United States and Canada.

Overall, the company serves a broad and diversified customer base across a variety of industries and geographies, which it serves from an extensive network of operating centers in North America, as well as from an integrated international network of service partners located in other key markets around the world.

We deliver these services through a multi-brand network that includes more than 100 operating centers.

Logistics services

Shippers typically manage their supply chains through a combination of asset-based and non-asset-based service providers.

Radiant Logistics operates primarily as a provider of non-asset-based logistics services, focusing on freight forwarding, truck brokerage and intermodal transportation services, along with associated value-added services.

Previously, the third-party logistics services market in the U.S. and Canada was worth $180.8 billion in 2018, $199.6 billion in 2019, $229.5 billion in 2020 and $229.2 billion in 2021.

Radiant Logistics believes there are several factors that are increasing demand for global logistics solutions. These factors include:

• Outsourcing of non-core activities.
• Globalization of trade.
• Increased need for time-definite deliveries.
• Consolidation of global logistics providers.
• Growing influence of e-commerce and the Internet.