Industry Insights
Increasing outsourcing of logistic operations by firms in order to
concentrate on their core business competencies is expected to drive the
market over the forecast period. 3PL service providers help reduce
CAPEX, manage inventory, offer market opportunities, moderate risk, and
support firms in business actions.
Inventory management, warehousing, cross docking, freight forwarding
and transportation are the activities outsourced to a logistics service
provider; these providers assist to understand a firms future challenges
and needs by leveraging their proficiency in supply chain operation,
while exhibiting flexibility and agility. Globalization has led to many
organizations to outsource their logistics function owing to increasing
infeasibility to manage global supply chain process on their own.
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Advent of Big Data and availability of industry-centric 3PL
services are estimated to provide positive avenues to market growth over
the next five years. Growing occasions of outsourcing by wholesalers
and retailers due to less internal control to handle logistic challenges
is anticipated to boost the 3PL market over the forecast period.
Increased implementation of Omni-Channeled distribution policies by
retailers leads to the growing popularity of online retailing.
Retailers depending on traditional mortar and brick channel have
developed their distribution systems to handle consumer demand. Using
their proficiency, 3PL service providers help their retail partners to
locate and deliver products quickly to the customer, irrespective of the
channel. 3PL vendors endeavor to decrease their lead times to attain
consumer satisfaction. Several healthcare and automotive organizations
have cancelled their agreement with existing internal logistics
providers and adopting 3PLs for decreasing distribution costs is
expected to fuel the market growth over the forecast period.
Service Insight
The Third Party Logistics market has been segmented into five
services such as, Domestic Transportation Management (DTM), Dedicated
Contract Carriage (DCC), warehousing & distribution, software and
International Transportation Management (ITM).
DCC involves trailers, supplying trucks, drivers, tractors and
managing many elements concerned in a supply chain. Dedicated Contract
Carriage is a high rising segment of the distribution industry and
trucking industry. Major companies such as Target, Wal-Mart and Kroger
use DCC for increasing truck capacity and decreasing costs. DTM includes
transportation management services in combination with freight
brokerage which are used for shipments to be reached in a particular hub
or point.
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ITM is alike to DTM; the only dissimilarity is that ITM deals with
international shipments. Distribution and warehousing comprise
distribution center process or long-term contract warehousing and many
value-adds. Refrigerated grocery and pharmaceutical applications are the
major factors which impact growth for value-added warehousing services.
Regional Insights
North America and Europe market is expected to grow at a significant
rate owing to technology advancement in logistics. The Third Party
Logistics market in Europe is estimated to grow significantly due to
increasing automotive industries. Asia-Pacific is expected to grow
significantly owing increasing growth scenario for distribution
facilities and warehousing in countries such as China, India, Indonesia,
Thailand, and Singapore. Increase outsourcing of logistic operations by
firms is the major factor which is expected to drive the market growth
in Asia Pacific region.
Competitive Insights
The key market and niche players include UPS Supply Chain
SolutionsJ.B. Hunt, Kuehne + Nagel, C.H. Robinson Worldwide, FedEx and
DHL. Market participants enter into mergers & acquisitions to
sustain in the market. FedEx have made partnership with Nagel and Kuehne
for improving their supply operations.
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