Third-party Logistics (3PL) Market to Generate $1,513 Billion By 2026 | CAGR 7.1%

If you are in e-commerce business, you must have seen the term of 3PL flying around. 3PL or third-party logistics companies handle outsourced procurement. As order fulfillment is the heart and soul of e-commerce and while the business grows, it becomes a herculean task to fulfill the customer orders. At this point, companies take the helping hand of 3PL companies. As a business owner, it is vital to know every detail of how 3PLs work in order to grow and scale your business.

Inquire more about this report @ https://www.alliedmarketresearch.com/purchase-enquiry/1512

What is third-party logistics?

3PL refers to outsourcing of e-commerce logistics processes such as warehousing, inventory management, and fulfillment. Moreover, 3PL companies enable e-commerce merchants to achieve more with advance infrastructure and tools to automate business processes. Although it is unknown who coined the term of 3PL, companies have been riding the wave of 3PL services since late 1970s and '80s. The 3PL industry has become a norm now. In short, the supply chain integration of warehousing operations and transportation services together come under the umbrella of 3PL services.

The services offered by 3PL are much more than just shipping. Some 3PL providers aim at a particular region and geographies. On the other hand, several providers have scaled their services by incorporating shipping services using advanced technologies and collaborating with public and contract warehouses. Moreover, several firms offer different types of freight transportation to customers.

However, if looked carefully, advanced technology is at the core of 3PL. Companies that provide 3PLs often offer additional services such as in-depth reporting, forecasts, and transportation along with freight bill auditing. According to Allied Market Research, the global third-party logistics market is projected to garner $1,513 billion by 2025, growing at a CAGR of 7.1% from 2018 to 2025. The rise in trading activities due to globalization, increase in e-commerce industry and reverse logistics operations are the major factors for the growth of the industry.

The key players analyzed in the research include DHL, FedEx Corporation, United Parcel Service, DB Schenker, Maersk Logistics, NYK logistics, Kuehne+Nagel Inc., Union Pacific Corporation, Panalpina World Transport Ltd., and BNSF Railway Company. These market players have implemented various strategies such as partnership, expansion, collaboration, joint ventures, and others to gain a stronghold in the industry.

Get Sample Report for More Details @ https://www.alliedmarketresearch.com/request-sample/1512

Major examples of 3PL

Transportation
3PL providers engage carriers and consolidate LCL or LTL freight along with tracking its payment and insurance documents. Moreover, 3PLs help reduce transportation costs and improve the efficiency of complex supply chain processes.

Global shipping
Shipping packages across the globe could be complicated and stressful for businesses and consulting a 3PL provider could take care of your such global shipping requirements and allow you more time for other processes. Furthermore, 3PLs take care of all trade compliances, cost, and execute accordingly.

Information technology
As mentioned above, advanced technology is the backbone of any 3PL provider. 3PLs use information technology (IT) to handle e-commerce and maintain customer relationships and warehouse operations. Services such as electronic data interchange (EDI), application programming interface (API), and cloud-based systems are majorly used by 3PLs to increase transparency of supply chain processes.

Top Impacting Factors Such as -
1. Increase in trading activities due to globalization
2. Increase in focus of manufacturers and retailers on core competencies
3. The risk to the goodwill of manufacturer

Key Benefits for Third-party Logistics (3PL) Market:
o The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
o The current market is quantitatively analyzed from 2017 to 2025 to benchmark the financial competency.
o Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.

Similar Reports:
Cold Chain Tracking and Monitoring Market
https://www.alliedmarketresearch.com/cold-chain-tracking-and-monitoring-market

Cold Chain Logistics Market
https://www.alliedmarketresearch.com/cold-chain-logistics-market

Cash Logistics Market
https://www.alliedmarketresearch.com/cash-logistics-market

Contact:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research

About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

This release was published on openPR.