Global Third Party Logistics Market To Exhibit 5.52% CAGR By 2020 Due To Rising Demand For Ecommerce

MarketResearchReports.biz has announced the addition of a new report to its vast online market intelligence catalog. The report studies the global third party logistics or 3PL market and presents forecasts regarding the market’s expected growth trajectory from 2016 to 2020. The report uses industry-standard analytical methodologies and reliable databanks to procure and analyze data relating the performance of the global 3PL market. The report is titled ‘Global 3PL Market 2016-2020’ and is available for sale on the official website of MarketResearchReports.biz.

According to the report, the global 3PL market is expected to exhibit a steady 5.52% CAGR from 2016 to 2020. The primary drivers for the 3PL market are the increased convenience offered to vendors and the rampant growth of the ecommerce sector, which has necessitated the delegation of logistics services.

3PL, or third party logistics, is a range of various logistical tasks and responsibilities that can be outsourced to a specialist. Delegating these responsibilities helps a company save costs that would otherwise have been expended on transporting, storing, managing, and delivering their products. 3PL is a part of supply chain management and providers of 3PL services have now expanded their service portfolio to the point that supplying value-added inventory management, delivery, cross-docking, and packaging services is now the norm in the 3PL industry. The increased scope of 3PL services has given strong impetus to the growth of the market in recent years.

The increasing demand from the ecommerce sector is a major driver for the global 3PL market. Due to its convenience, customers have been wholeheartedly in support of ecommerce solutions,which has driven the demand for the various ancillary industries that are needed to sustain successful ecommerce operations. The 3PL market has benefitted massively from the growth of the ecommerce sector in recent years and is expected to derive a large part of its global demand from expanding ecommerce operations in the coming years.

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The increasing urbanization and industrialization in emerging economies have majorly driven the global 3PL market. Due to the relatively recent entry of ecommerce solutions in countries such as China and India, the demand for the various operations associated with the ecommerce sector is expected to exhibit a steady rise in the coming years. This will be a major driver for the global 3PL market in the forecast period. The sustained development in major Latin American countries also has the potential to be influential in the growth trajectory of the global 3PL market in the coming years.

Major 3PL market players profiled in the report include DB Schenker, C.H. Robinson, Nippon Express, XPO Logistics, Agility, CEVA Holdings, DSV, DACHSER, Deutsche Post DHL, Yusen Logistics, CJ Korea Express, Kuehne + Nagel, GEODIS, Hellmann Worldwide Logistics, Damco International, and Ryder System.

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