LONDON--(BUSINESS WIRE)--Technavio projects the global third-party logistics market 2018-2022 to post a CAGR of close to 6% during the forecast period, according to their latest market research report 2018.
The growth of e-commerce and the need for integrated shipping services is a key driver that will impact the growth of the global third-party logistics market during the forecast period. The emergence of e-commerce sector has led to the rise in domestic consumption of products among the rapidly expanding middle-class and the increasing adoption of internet and mobile services. With the growth in parcel volumes, e-commerce vendors have found a reliable logistics partner in 3PL providers for a streamlined and cost-effective supply chain management.
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In this report, Technavio highlights the emergence of big data analytics as one of the key emerging trends to drive the global third-party logistics market:
Global third-party logistics market: Emergence of big data analytics
Logistics companies and shippers are leveraging big data analytics to derive meaningful insights from large quantities of data to gain a competitive advantage in the market. Moreover, big data analytics enables the optimization of core activities such as resource utilization, delivery time, and geographical coverage. Advanced real-time processing and predictive techniques promise to enhance the accuracy of capacity forecast and resource control.
According to a senior analyst at Technavio for logistics research, “Market players can expand throughput, increase asset uptime, enable resource optimization, and conduct near real-time supply planning by analyzing the dynamic data feeds from the Internet of Things.”
Global third-party logistics market: Segmentation analysis and forecast through 2022
This market research report segments the global third-party logistics market by application (transportation services, warehousing and distribution services and other services) and key regions (the Americas, APAC, and EMEA).
The transportation services segment dominated the market in 2017 with a market share of close to 38%, however, the market share of this segment is expected to witness a small decrease over the forecast period.
APAC occupied the largest share in the global third-party logistics market in the year 2017, accounting for a market share of more than 37%, followed by EMEA and the Americas respectively. The market share of the Americas and EMEA is expected to decline over the forecast period while APAC is expected to witness a further increase it its market share.
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