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Third Party Logistics (3PL) Market Worth USD 925.31 Billion By 2020 : Radiant Insightd,Inc
San Francisco, Feb. 15, 2016 -- The global Third Party Logistics (3PL) Market is expected to reach USD 925.31 billion by 2020. Increased convergence on core competencies by outsourcing secondary business activities such as logistics is expected to drive the 3PL market over the forecast period.
Infeasibility in managing geographically dispersed supply chain operations as a result of increased globalization has led to several companies outsourcing their logistics function. Emerging trends such as Big Data and availability of industry-tailored 3PL services are expected to drive the market over the forecast period. Lack of internal control for addressing logistical challenges has led to increased outsourcing by wholesalers and retailers, thereby providing a fillip to the 3PL industry.
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Further key findings from the study suggest:
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3PL Service Outlook (Revenue, USD Billion, 2012 - 2020)
3PL Regional Outlook (Revenue, USD Billion, 2012 - 2020)
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