Global Third Party Logistics (3PL) Market is expected to reach USD 1.24 trillion by 2025, according to a new report by Grand View Research, Inc. The increasing outsourced-logistics functions availed by middle market companies to address their logistics challenges, are expected to positively impact the industry growth.
The domestic and global markets for outsourced-logistics services are continuously evolving toward advanced services and cloud-based technologies. The diligence related to logistics costs has led to an increased focus on the key concerns such as supply chain sustainability and security. Lowering of inventory costs is becoming a norm in the automotive and retail sectors, which is providing ample growth opportunities for 3PL providers.
Third party logistics providers are strengthening their relationships with freight providers to optimize their supply chain capabilities. They are also investing in contemporary IT solutions, commercial offerings, cloud-based solutions, and proprietary innovations to create a leading-edge approach. Though the economic conditions are varying across countries, significant improvements are visible in the key regions of Asia Pacific and North America.
3PL providers allow businesses to focus on their core activities such as R&D, manufacturing, and strategic planning, thereby relieving them from the daily burden of operational logistics issues. The key 3PL vendors use advanced applications and IT software, which enhance their distribution coverage and provide quality services to the customers. Omni channel distribution has gained momentum in the past few years, primarily due to the increased penetration of e-commerce.
Access for full Detail of Report and Complete TOC: http://www.grandviewresearch.com/industry-analysis/third-party-logistics-market
Further key findings from the report suggest:
View Blog on Third Party Logistics (3PL) Market by Grand View Research: http://www.grandviewresearch.com/blog/third-party-logistics-3pl-market-size-share
Grand View Research has segmented the Third Party Logistics (3PL) market based on service, transport, end-use, and region:
3PL Service Outlook (Revenue, USD Billion, 2014 – 2025)
3PL Transport Outlook (Revenue, USD Billion, 2014 – 2025)
3PL End-Use Outlook (Revenue, USD Billion, 2014 – 2025)
3PL Regional Outlook (Revenue, USD Billion, 2014 – 2025)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more Information visit us@ www.grandviewresearch.com