3PL market size forecast to reach USD 1,029.47 billion till 2022: Global Market Insights Inc.
Third Party Logistics market size is forecast to reach USD 1,029.47 billion till 2022, as per a new research report by Global Market Insights, Inc. Emphasis on core activities along with cost effectiveness is likely to spur global demand. International Transportation Management (ITM) was the foremost service segment and was valued at USD 255.19 billion in 2014. It is likely to observe considerable gains, with approximation of USD 338.91 billion by 2022 at a CAGR of 3.7% from 2015 to 2022. Increased supply chain management and continued growth in global economic activity have led to substantial increase in demand. W&D was valued at USD 161.95 billion in 2014, and is likely to arrive at USD 213.82 billion by 2022, at an estimated CAGR of 3.6% through the forecast timeframe.
3PL providers have made their presence felt on social media to enhance customer engagement. Green logistics has been adopted by prominent logistics service providers to address growing environmental concerns. Route & load optimization and efficient packaging are some of the measures undertaken as a part of the green logistics initiative. Omni-channel distribution popularity can be credited to wide deployment of online marketing.
U.S. 3PL market size by service, 2012-2022 (USD Billion)
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