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Third Party Logistics (3PL) Market set to cross USD 1 trillion by 2024. Growing focus towards cost effectiveness and core business functions incurred in logistics are the major factors driving the third-party logistics market over the forecast timeframe.
Rising transportation costs will encourage shippers to discover new alternatives in order to minimize distribution and shipping costs out of the supply chain. 3PL market service providers offers timely and effective logistics solutions which in turn optimize transportation costs. The rising trend of e-commerce accompanied by entrepreneurial ventures will favor the 3PL market demand for customized logistics services.
Participants involved in the 3PL market include Kuehne+Nagel, Deutsche Post DHL (Exel), C.H. Robinson, Expeditors International of Washington, UPS Supply Chain Solutions, FedEx Supply Chain, APC Logistics and GENCO, etc.
Market share calculation in this report is not done based on companies covered in it. The calculation of 3PL market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentation: -
Asia Pacific 3PL market is projected to surpass USD 400 billion by 2024. The growth can be credited to increasing adoption of warehousing and distribution centers and facilities in countries such as India, China, Thailand, and Singapore.
The U.S. third party logistics market is characterized by the demand for low-cost services and outsourcing the services to third parties to primarily focus on the core competencies. The demand for efficient inventory management and rapid deliveries will surge the growth in the region. The U.S. will contribute toward the growth of the air freight owing to strong trade relations with other countries. The movement of sensitive goods, such as hazardous materials, time-dependent shipments, and delicate items from the U.S., requires the usage of air transportation, which is much faster and safer via sea or land.
3.3.5 Value added warehousing & distribution (VAWD) industry landscape
3.3.5.1 Order Fulfillment
3.3.5.2 Reverse Logistics
3.3.6 Supply Chain Management (SCM) service/logistics BPO industry landscape
3.3.7 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Automated Guided Vehicles (AGV) in logistics & warehousing
3.4.2 Global AGV/logistics robotics market size
3.5 Industry participant analysis
3.5.1 Major pain points
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Technological advancements
3.6.1.2 Emerging trend across E-Commerce industry
3.6.2 Industry pitfalls and challenges
3.6.2.1 Lack of logistics control
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 Company market share analysis, 2016
3.9.1 Overview of key players
3.10 Development of competitive positioning over time
3.11 PESTEL analysis
Browse key industry insights spread across 165 pages with 64 market data tables & 31 figures & charts from the report, Third Party Logistics (3PL) Market in detail along with the table of contents:
Outsourcing operations helps various firms having less number of resources to cater higher order volume in an economical way. It also helps in cutting down costs and optimizing the overall logistics set-up which includes data warehousing of software systems, installation of more computers and processing equipment. Leading service providers are increasingly adopting IT solutions to improve their distribution coverage and enhance service quality delivered to the customers.
However, factors such as risk containment, inconsistent freight volumes, lack of trust, emphasis on cost and sluggish economic growth may restrict the industry growth. Economic downfalls have led shippers to confine their outsourcing activities to few suppliers. Thus, decreasing the number of outsourcing operations and may negatively affect the industry growth over the forecast timeframe.
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