An analysis of Third Party Logistics (3PL) Market with respect to the Top Key Players Americold Logistics, CEVA Logistics, DB Schenker, FedEx, GEODIS, J.B. Hunt Transport, Kuehne + Nagel, Landstar, Nippon Express, Panalpina, UPS Supply Chain Solutions, XP

Third Party Logistics (3PL) Market size is set to exceed USD 1,100 billion by 2024. Increasing globalization is encouraging companies across several industry verticals including e-commerce, food & beverage, durable manufacturing, and general merchandising to expand their geographical presence to meet the global demand. This is expected to positively impact the International Transportation Management (ITM) segment demand. 3PL market vendors are focusing on providing international freight management and customs brokerage with their extensive knowledge of import-export processes and international regulations.

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Industry players include Americold Logistics, LLC., BDP International, C.H. Robinson, CEVA Logistics, DB Schenker, DHL Supply Chain, UTi Worldwide (DSV A/S), FedEx, GEODIS, J.B. Hunt Transport, Inc., Kintetsu World Express, Kuehne + Nagel, Landstar, Nippon Express, Panalpina, Ryder Supply Chain Solutions, Schneider, Total Quality Logistics, Transplace, UPS Supply Chain Solutions, XPO Logistics, Inc. These industry participants are working toward providing visibility in the processes to gain consumer confidence by delivering enhanced services.

The advent of IoT and big data analytics have indeed transformed the dynamics of major businesses, 3PL being no exception. The deployment of high-grade technology unfailingly leads to efficient results, and by extension, lucrative profits. It has come to the fore that many 3PL industry players already use programs such as visibility and distribution center (DC) management, electronic data interchange (EDI), transportation management, in addition to trade management tools, supply chain planning, data mining tools, data analytics, web portals, and network optimization.

Rail & road mode is expected to experience a high demand owing to the increasing domestic transportation requirements. The launch of rail freight services between Beijing and London across Asia and Europe is expected to surge the trade through the rail mode. This has enabled manufacturers to explore newer transportation options at low costs. This silk route unlocks options for shippers to reduce the transportation time.

The e-commerce sector has been experiencing an appreciable growth in the last few years, driven by the introduction of numerous technologies, which is slated to have a major impact on 3PL industry. Amazon, for instance, has been expanding its logistics sector since 2012, followed by Alibaba, its Chinese counterpart. The latter has designed its ‘One Touch’ platform to automate logistics services such as customs clearance and freight costs, to make it viable and cost-effective for SMBs to establish their position in 3PL market.

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Amazon’s disruption in 3PL industry may have a massive impact on DHL and UPS, subject to the fact that respectively 4% and 5% of their businesses come from Amazon’s merchandise. On that note, it would be prudent to mention that the robustly expanding e-commerce sector would have a rather notable impact on the revenue share of 3PL market.

As China emerges as one of most profitable grounds for the development of 3PL industry as well as the e-commerce business, it is an undeniable fact that the region has been experiencing a slight increase in labor wages and facility costs. On these grounds, European and American manufacturers have been nearshoring production to countries such as Turkey, Hungary, Morocco, Poland, and Czechoslovakia. This has led to the generation of numerous warehouse spaces across Europe, inevitably prompting shipping companies to brainstorm newer approaches to garner profits. For instance, Maersk plans to establish a distribution network comprising warehouses to shift its shipping services from container shipping to inland transportation. Eventually, this will lead to Maersk becoming a major player in 3PL market, as the company may outsource its operations to other regional manufacturers.

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The entry of Maersk and Amazon into third party logistics industry may pose a major challenge to the already existing service providers, nonetheless, it will enable these operators to scale up their service portfolio and offer a more diversified range of services.

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