Third-Party Logistics (3PL) Market 2021 report explores the future trends, top companies development and forecasts-Desutche Post DHL Group, DB Schenker, Ceva Logistics

Third-Party Logistics (3PL) Market by Component, Application, Services, and Region- Forecast to 2025

The Global Third-Party Logistics (3PL) Market Research Report 2021-2025 published by MarketInsightsReports is a significant source of keen information for business specialists. It furnishes the Third-Party Logistics (3PL) business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the Third-Party Logistics (3PL) worth chain and its wholesaler examination. Third-Party Logistics (3PL) Market study gives extensive information which upgrades the agreement, degree, and use of this report.

The market for Third-Party Logistics (3PL) in Singapore is estimated to be valued at more than USD 5 billion and is estimated to grow at a CAGR of more than 5.5% during the forecast period. Due to the impact of Covid-19 the market is expected to witness significant fall in revenue in 2020.

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Top Leading Companies of Third-Party Logistics (3PL) Market are Desutche Post DHL Group, DB Schenker, Ceva Logistics, YCH Group Pte Ltd, Keppel Logistics Pte Ltd., CWT Ltd., Kuehne + Nagel, Agility Logistics, Toll Group, Nippon Express, Singapore Post Limited (SingPost) and others.

-Industry News And Updates on Third-Party Logistics (3PL) Market-

Supply of warehouse space to slow down through the forecast period

Singapore is one of the matured warehousing markets in the world with steady supply, of warehousing space, technological adoption, and the countrys role as a logistics hub for the Southeast Asian region. Mulit-storey warehouses are gaining traction in the country, they offer cost-effective solutions in places, like Singapore, where there are space constraints. The trend has also been picking up in other Asian regions, such as Bangkok, Jakarta, Hong Kong, and Tokyo. Although most of the warehouses in Singapore are traditionally equipped, going forward, smart technologies are expected to play an important role.

-Key Market Trends Third-Party Logistics (3PL) Market-

E-Commerce driving the demand for 3PL Services

Singapore has a significantly big e-commerce market despite its small population and is one of the most matured e-commerce market in Southeast Asia. The e-commerce market in the country is valued at more than USD 5 billion in 2019. The three categories of electronics & media, fashion, and home furnishings together take up more than two-thirds of the market. Also, the country has a high share of cross-border sales, which account for more than half of the market according to industry sources. This drives the demand for international transportation services.

-Competitive Landscape On Third-Party Logistics (3PL) Market-

The third-party logistics market in Singapore is fragmented in nature with the presence of a large number of players. Most of the top global players such as DHL, Kuehne + Nagel, Ceva Logistics have significant presence in the country. Additionally, there are some major local companies such as YCH, Keppel, and CWT which offer wide range of services. The presence of these large international and domestic players makes the market highly competitive. Also, in the digital era with technological advancements, there are a lot of startups emerging in the market, especially in the e-commerce fulfillment space.

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