Third Party Logistics Market to grow at CAGR of 4.6% from 2017 to 2024

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

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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.

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

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Browse Full Market Research Report Third Party
Logistics Market _at_ http//bit.ly/24NG7fV Request
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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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