Global Third Party Logistics (3PL) Market Expected To Reach $ 995.1 Billion By 2020 With A CAGR Of 5.4%

Date: 2016-09-18

3PL providers have made their presence felt on social media to enhance customer engagement. Green logistics has been adopted by prominent logistics service providers to address growing environmental concerns. Route & load optimization and efficient packaging are some of the measures undertaken as a part of the green logistics initiative. Omni-channel distribution popularity can be credited to wide deployment of online marketing.

The global Third Party Logistics (3PL) market is anticipated to reach USD$ 995.1 billion by 2020, expanding at a CAGR of 5.4% between 2016 and 2020.  

Asia Pacific 3PL market size leads the regional demand with revenue share of 35.2% in 2014 and is expected to grow at 5.2% through the next few years. The region is predicted to exhibit high growth rate owing to increasing adoption of distribution and warehousing facilities in nations such as China, Thailand, India, Singapore and Indonesia. North America is anticipated to reach USD 265.40 Billion up to 2022.

3PL constitutes outsourced activities related to logistics, warehousing and distribution. 3PL services go beyond logistics and include value-addition to the entire process from procurement of goods to the distribution of furnished products to the consumers establishing an effective and efficient supply chain. Moreover, advanced IT solutions like EDI (Electronic Data Interchange) and VMI (Vendor Managed Inventory) among others are enhancing the growth of 3PL market.

The world 3PL market is poised to witness significant growth during the forecast period owing to increase in e-commerce industry and trade activities globally and inclination of manufactures and retailers towards enhancing their profitability. Moreover, government regulations across different countries are increasing the demand of 3PL across various industries. However, factors such limited control on outsourced activities and inefficiency of 3PL service provider to an extent is hampering the growth of this market.
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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