The rapidly escalating growth curve of (3PL) Third Party Logistics Market is quite evident from the numerous collaborations witnessed across this business sphere. For instance, recently, CFAO Equipment Ltd, one of the many leading suppliers of industrial and construction equipment across the globe, has signed an agreement with a Ghana-based logistics company called Third Party Logistics Limited. As per the conditions of this partnership, CFAO Equipment will be providing Toyota forklifts to Third Party Logistics to be used in its business operations.
The adoption of various software solutions, such as cloud ERP and SCMs, is expected to positively impact the third party logistics 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.
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The (3PL) third party logistics 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 market providers.
The Asia Pacific third party logistics market is predicted to have a significant industry share contributing to over 30% of the total revenue in 2016. The growth in the region is propelled by the improving economic conditions, Internet penetration, and the rising number manufacturing firms. These factors provide lucrative growth opportunities to the industry for effective warehousing and distribution services. In addition, the rising free trade agreements between different countries in the region offer a wide potential for growth.
Browse key industry insights spread across 165 pages with 59 market data tables & 31 figures & charts from the report, (3PL) Third Party Logistics Market in detail along with the table of contents @https://www.gminsights.com/industry-analysis/third-party-logistics-3pl-market-size
Some Point from Table of Contents:
Chapter 4 third party logistics market, By Solution
4.1 3PL market share by solution, 2016 & 2024
4.2.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.3.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.4.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.5.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
4.6 Logistics software
4.6.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
Chapter 5 3PL Market, By Mode
5.1 third party logistics market share by mode, 2016 & 2024
5.2.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
5.3.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
5.4 Rail & Road
5.4.1 Market estimates and forecast, by region, 2013 – 2024 (USD Billion)
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