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Third Party Logistics Market forecast to hit $1,100bn till 2024

Request Sample of Report @ http://bit.ly/2erlZwZ<br>3PL services are not only restricted toward logistics, but also include value-addition services for the entire process from procurement to distribution to consumers, thereby establishing an efficient and effective supply chain. In addition, advanced IT solutions, such as Electronic Data Interchange(EDI) and Vendor Managed Inventory (VMI), offers visibility to inbound and outbound logistics operations and contributes to the growth of the 3PL market. <br>

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Third Party Logistics Market forecast to hit $1,100bn till 2024

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  1. 3PL Market forecast to expand USD 1,100 billion till 2022: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024

  2. Key Insights from Third Party Logistics Market: • Third Party Logistics (3PL) Market size is set to exceed USD 1,100 billion by 2024, according to a new research report by Global Market Insights, Inc. The 3PL market is forecast to grow at a significant rate owing to the increasing focus of manufacturers on their core businesses and sub-contracting the activities, where they have less expertise. • The growth in the e-commerce industry is expected to drive the 3PL market due to an increase in demand for fast delivery, efficient inventory management, freight forwarding, and individualized shipping time. The players in the e-commerce sector are focused on selling goods online, thus necessitating the need for 3PL market providers. • Increasing globalization is encouraging companies across several industry verticals including e-commerce, food & beverage, durable manufacturing, and general merchandising to expand their geographical presence to meet the global demand. This is expected to positively impact the International Transportation Management (ITM) segment demand. 3PL market vendors are focusing on providing international freight management and customs brokerage with their extensive knowledge of import-export processes and international regulations.

  3. Continued... • The adoption of various software solutions, such as cloud ERP and SCMs, is expected to positively impact the 3PL market growth. An increase in efficiency and a significant cut in costs enable the providers to increase their profit margins. Features, such as inventory tracking and online documentation for international freights, are attracting manufacturers toward the 3PL solutions. • Factors such as perceived loss of reputation and loss of control, are expected to hamper the 3PL market growth. The explosion of e-commerce sector is providing tremendous growth opportunities. An exponential increase in the number of orders and reduced delivery times is compelling providers to improve their operations to meet the ever-increasing demand to complete more orders in lesser time. • Rail & road mode is expected to experience a high demand owing to the increasing domestic transportation requirements. The launch of rail freight services between Beijing and London across Asia and Europe is expected to surge the trade through the rail mode. This has enabled manufacturers to explore newer transportation options at low costs. This silk route unlocks options for shippers to reduce the transportation time.

  4. U.S. 3PL Market Size, By Solution, 2016 & 2024 (USD Billion)

  5. Browse Full Market Research Report Third Party Logistics Market@ http://bit.ly/24NG7fV Request for a Sample of this Research report @ https://www.gminsights.com/request-sample/detail/132

  6. Continued... • The Asia Pacific 3PL market is predicted to have a significant industry share contributing to over 30% of the total revenue in 2016. The growth in the region is propelled by the improving economic conditions, Internet penetration, and the rising number manufacturing firms. These factors provide lucrative growth opportunities to the industry for effective warehousing and distribution services. In addition, the rising free trade agreements between different countries in the region offer a wide potential for growth. • Some of the prominent players operating in the 3PL market include DHL Supply Chain, DB Schenker, Kuehne + Nagel International AG, Panalpina World Transport Ltd., Nippon Express Co., Ltd., SinoTrans (HK) Logistics Ltd., UPS Supply Chain Solutions, and XPO Logistics, Inc. The 3PL market is highly fragmented in nature and is characterized by several acquisitions and mergers. For instance, in 2016, C.H. Robinson acquired APC Logistics as an expansion strategy. The companies are increasing their capabilities to expand the service portfolio. In 2017, AmeriCold Logistics LLC announced the purchase of several cold storage facilities across the U.S. to increase the capacity of their temperature-controlled services. The companies are actively involved in the purchase of offices overseas, particularly in Latin America and Africa, to meet the international transportation demand.

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