3PL Logistics Market size revenue to exceed $1,029.47bn by next seven years

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Third Party Logistics (3PL) Market size to reach
1tn by 2022 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key report insights of Third Party Logistics
Market

• Third party logistics (3PL) market size is
  projected to exceed USD 1,029.47 billion by 2022
  at a growing CAGR of 4.4. A new study based
  report by Global Market Insights features
  in-depth analysis of the 3PL market. It comprises
  of thorough analysis of the industry, including
  definition, classification, and applications and
  market trends, driving and restraining factors
  that impact the market growth.
• It segments the industry on the basis of region,
  product, application and the competitive
  landscape. Companies have started outsourcing
  logistics operations to third party logistics 3PL
  providers to perk up the overall competence of
  their business processes. Further reduced costs
  are likely to boost the demand growth. Shippers
  are forced to discover new prospects to pull
  costs out of the supply chain. 3PL providers
  prescribe a timely and effective supply chain
  solutions at optimized transportation costs. The
  proliferation of e-commerce is anticipated to
  further the industry demand.

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Continued...

• Software services are projected to hit USD 30
  billion at a growing CAGR of over 6.5 up to
  2022. Rapid adoption of software and latest IT
  applications to improve distribution coverage and
  provide quality service to the customers is
  likely to boost growth. In addition to this,
  Omni-channel distribution system is forecast to
  witness growth attributed to rising use of online
  marketing services. Factors including emphasis on
  risk and cost control, slow economic growth and
  varying freight volumes, etc. are anticipated to
  prove to be a barrier in the 3PL market demand
  growth during the projected period.
• ITM (International Transportation Management)
  market size dominated the service segment and is
  expected to exhibit significant gains in the near
  future. DTM (Domestic Transportation Management)
  is projected to see remarkable growth by 2022.
  Industry sectors like pharmaceutical applications
  refrigerated grocery are projected to experience
  highest growth prospects over the estimated time
  frame.

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Continued...

• The Asia Pacific third party logistics 3PL
  industry is likely to hit USD 385 billion at a
  growing CAGR of over 5 from 2015 to 2022. Europe
  3PL market size is expected to witness a
  substantial growth owing to rising demand from
  life sciences and automotive industry sector in
  the next few years. North America is expected to
  be worth USD 265 billion during the anticipated
  period.
• The report features a competitive scenario of
  the market with key participants profiled in the
  report, coupled with the key strategies, finance
  metrics and current trends. Key participants in
  moderately competitive global third party
  logistics 3PL market are Deutsche Post DHL
  (Exel), UPS Supply Chain Solutions, C.H.
  Robinson, J.B. Hunt (JBI, DCS ICS), Kuehne
  Nagel, and Expeditors International.

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360 Analysis

• Application Analysis
• Leading vendors are now increasingly using latest
  IT applications and software that helps in
  enhancing distribution coverage and also help in
  providing quality service to the customers.
  Furthermore, Omni-channel distribution system is
  likely to gain its significance owing to
  increasing use of online marketing services.
• Regional Analysis
• Asia Pacific third party logistics market was
  valued around USD 255 billion in 2014. The
  industry is expected to grow at a CAGR of over 5
  from 2015 to 2022 and is projected reach USD 385
  billion by 2022. Europe 3PL market size was
  projected to be valued around USD 210 billion by
  2022 and is forecast to grow at a CAGR of over
  2.5 over the forecast period. Eurozone crisis is
  anticipated to hamper the industry demand for the
  service
• Competitive Market Share
• Key industry participants accumulating
  significant 3PL market share include Kuehne
  Nagel, UPS Supply Chain Solutions, Expeditors
  International, Deutsche Post DHL (Exel) and J.B.
  Hunt (JBI, DCS ICS) among others.

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