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Third Party Logistics (3PL) Market will Positively Impacted by Adoption of Various Software Solutions, Such As Cloud ERP And SCMS in Coming Years

Author : Ronak Bora | Published Date : 2019-03-12 

The Third Party Logistics (3PL) Market is forecast to grow at a significant rate owing to the increasing focus of manufacturers on their core businesses and sub-contracting the activities, where they have less expertise. The growth in the e-commerce industry is expected to drive the 3PL market due to an increase in demand for fast delivery, efficient inventory management, freight forwarding, and individualized shipping time. The players in the e-commerce sector are focused on selling goods online, thus necessitating the need for Third Party Logistics (3PL) Market providers.

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The adoption of various software solutions, such as cloud ERP and SCMs, is expected to positively impact the 3PL market growth. An increase in efficiency and a significant cut in costs enable the providers to increase their profit margins. Features, such as inventory tracking and online documentation for international freights, are attracting manufacturers toward the 3PL solutions.

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.

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.

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As China emerges as one of most profitable grounds for the development of Third Party Logistics (3PL) Market 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 Third Party Logistics (3PL) Market, as the company may outsource its operations to other regional manufacturers.

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. This service upgradation by means of deploying technological innovations will only serve to increase the growth rate of Third Party Logistics (3PL) Market, which will be augmented by numerous mergers and acquisitions. Maersk’s acquisition of logistics provider Hamburg Sud, and Nestlé’s selection of 3PL industry player, Kuehne + Nagel as its logistics provider, are key instances of the alliances that will define 3PL market in the future.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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