Published on : Feb 03, 2017
ALBANY, New York, Feb 03, 2017: The report offers a thorough peek into the third party logistics in which storage and transportation services are outsourced to a specialist company. This enables a company to reduce costs and focus better on its core operations.
Third party logistics or 3PL services also entail delivery, inventory management, packaging, and cross-docking services. Because of so many benefits, companies are increasingly opting for 3PL. The growing number of ecommerce companies, for example, are major growth drivers in the global 3PL market. Going forward too, the trend of online shopping will continue boosting the market. Startups too are significantly contributing to the market as they often cannot afford to have their own logistics services. Besides, the tanking shipping rates have augured well for the market as well as it has enabled the 3PL operators to reap profits even while offering services to their clients at reduced prices. Some of the latest trends in the market is the leveraging of Big Data to better serve consumers and the emergence of industry-tailored 3PL services.
In order to study the global 3PL market in-depth, the report segments it based on different parameters. By type, for example it classifies the market into animal transport, vehicle transport, ordinary goods transport, and others. Depending upon end user or application, it segments the market into logistics control and providing logistic service operation. The report studies each segment in detail to uncover its size, market share, and growth prospects.
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Geographically, the key segments of the market mentioned in the report are the European Union, the U.S., India, Japan, China, and Southeast Asia. Among them India and China are major markets on account of the booming ecommerce industry which is turn is being propelled by the proliferation of the internet, increasing spending capacity of the people, and growing number of players foraying into online retailing in the two countries. China and India are also expected to contribute substantially in the years to come as well.
The European Union and the U.S. are the other crucial markets. Though the Eurozone crisis has dealt a blow to the European Union in the recent past, the region will likely pick up steam soon on the back of rising demand from the automotive industry. Having thrown light on the different segments, the report goes on to discuss the leading players in the market. It brings to the fore their strategies, area of service, sales and revenues, and future prospects. Some such prominent players in the global 3PL market are TNT, FedEx, APL, NOL, Nippon Express, China Shipping, Kerry Logistics, Maersk, COSCO Logistics, DHL, Exel, Sinotrans, and South Logistics Group.
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