Global 3PL Market
: Overview
Third party
logistics, also known as 3PL,
is an outsourcing system wherein storage and transportation services
are outsourced to a specialist company. Outsourcing these services
allows companies to cut costs and focus on their core competency.
Inventory management, delivery, packaging, and cross-docking services
are now usually bundled with 3PL services, making the 3PL platform
even more cost-effective. The global 3PL market is driven primarily
by the rising preference to outsource all non-essential tasks in the
corporate sector. This boosts the profit margin of the vendor
significantly and the trend is expected to remain influential in the
forecast period.
The global 3PL
market is also driven by the increasing demand from the ecommerce
sector thanks to the latter’s steady growth in recent years. This
is another major driver for the global 3PL market, particularly in
developing countries, where the ecommerce sector stands to grow
handsomely in the coming years.
The report presents
a detailed profile of the global 3PL market, including a review of
the market’s historical trajectory and the key factors influencing
its growth at present. The current market figures are given in detail
in the report and are used to project the global 3PL market’s
future. The major segments of the global 3PL market are examined in
the report to get an idea of the hierarchy of the market by each
criterion. The competitive landscape of the market is also examined
in the report.
Global 3PL Market
: Drivers and Restraints
Apart from the
increasing preference to cut costs on non-essential functionalities,
the global 3PL market is majorly driven by the fall in shipping
rates, which have allowed 3PL operators to make a profit even while
allowing their clients to cut their own total expenditure. Utilizing
3PL results in a smoother, more streamlined supply chain, making the
process of marketing and selling the products much easier
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The rise of the
ecommerce sector has been a major driver for the global 3PL market in
the last few years. Ecommerce giants focus on selling the products
through an online platform, and not all have their own logistics
services. Startups, which are becoming increasingly numerous in
today’s business environment, may not be able to afford their own
logistics services, necessitating the use of third party logistics.
The convenience of
shopping online has resulted in consumers unanimously showing their
support to the expansion of ecommerce. This will remain a major
driver for the global 3PL market, as developing economies are
expected to witness a steady expansion of their ecommerce sectors in
the coming years, leading to an increase in the demand for 3PL
services.
Global 3PL Market
: Regional Analysis
The global 3PL
market was led by Asia Pacific in 2015. A trifecta of increasing
disposable incomes, increasing availability of the Internet, and
escalating investments by ecommerce players has seen the ecommerce
sector grow by leaps and bounds in emerging countries such as China
and India. This is expected to remain influential for the global 3PL
market in the coming years.
Europe and North
America accounted for the next largest shares in the global 3PL
market. The recent eurozone crisis has held the Europe 3PL market
back, but the increasing demand from the automotive industry is
likely to turn the tide in the years ahead. Latin America is expected
to become another key market for 3PL service providers in the near
future due to the increasing demand for ecommerce in the region.
Key players profiled
in the report include C.H. Robinson, DSV, Nippon Express, CEVA
Holdings, DB Schenker, Yusen Logistics, Kuehne + Nagel, Hellman
Worldwide Logistics, and Ryder System.
The report offers a
comprehensive evaluation of the market. It does so via in-depth
qualitative insights, historical data, and verifiable projections
about market size. The projections featured in the report have been
derived using proven research methodologies and assumptions. By doing
so, the research report serves as a repository of analysis and
information for every facet of the market, including but not limited
to: Regional markets, technology, types, and applications.
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