Global Third-Party Logistics (3PL) Market is valued USD 750 billion in 2017 is anticipated to grow USD 1450 billion with the compounded annual growth of 6.0% over the forecast period 2018-2025.

New York 20 Aug 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Third-Party Logistics (3PL) market industry is poised to raise USD 1450 billion by 2025. Variation in transportation capabilities and increased shipping demand have enabled service providers to enhance their supply chain activities. The third party logistics market is expected to progress as service providers are moving towards the use of automated freight payment and audit services to reduce costs. These providers are gaining competitive advantages by reducing capital expenditure (CAPEX), mitigating risks, managing inventory, and focusing on the core competencies of their business operations. he manufacturers and end-use industries in the emerging countries lack the internal control required for addressing logistics challenges. This has provided an impetus to the 3PL industry growth. Additionally, the key vendors are adopting cloud-based Customer Relationship Management (CRM) solutions to enhance the shipper-vendor relationship and reduce the supply chain complexities by providing increased visibility in the process. However, the economic downturn is dampening the interest of 3PL providers in making capital investments

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Global Third-Party Logistics (3PL) Market Size study, by Service, by Transport (Roadways, Railways, Waterways, Airways), by End Use (Manufacturing, Retail, Healthcare, Automotive) and by Regional Forecasts 2018-2025

The industry is seeming to be competitive. Some of the leading market players include BDP International, Burris Logistics, CH Robinson Worldwide, CEVA Logistics, DB SCHENKER Logistics, Exel, Expeditors International of Washington, Inc., FedEx Corporation, J.B. Hunt Transport Services, , Amerigold Logistics and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.

Key findings of the study:

  • Economic growth in India and China is augmenting the regional growth. Economic revival, GST implementations, and rising e-commerce penetration are key factors contributing to the industry growth in India
  • The North American regional market is anticipated to witness significant growth, owing to the increasing demand for logistics software

Bizwit Research & Consulting LLP has considered following segments for the study:

By Service:

  • DCC/Freight forwarding
  • DTM
  • ITM
  • Warehousing & Distribution
  • Value Added Logistic Services

By Transport:

  • Roadways
  • Railways
  • Airways
  • Waterways

By End Use:

  • Manufacturing
  • Retail
  • Healthcare
  • Automotive

Regional Outlook:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Rest of the World

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