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Global Third-Party Logistics (3PL) Market Report: 2010 Edition
Koncept Analytics, Dec 2010, Pages: 35
Third party logistics is an integral part of the overall transportation and logistics services which are in turn directly correlated with the global economic condition. The global third party logistics market registered an impressive growth up till 2008, but nose dived in the year 2009 responding to global economic recession and plummeted trade volumes. However, the economic revival has reflected a growth in overall logistics as well as third party logistics market.
The international transportation management segment accounted for the maximum share of the US third party logistics market in 2009. However the percentage share declined in comparison to a year ago period. According to the industry estimates, the revenues of this segment are expected to grow in response to increasing freight movement world over. The value added warehousing and distribution segment showed resistance to the overall decline in the market and adverse economic conditions and suffered the least decline in terms of revenues.
Consolidation amongst 3PL companies through acquisitions and mergers has established itself as a growing trend in recent times. The level of 3PL opportunities has a changing pattern in different regions from time to time. Consequent to that, sensing changing business opportunities, 3PL companies keep shifting their choice and focus to regions with greatest business opportunities. Recent market studies depict North American Region as the top choice among 3PL companies as the most promising area of 3PL growth, while Eastern Europe showed heavy reduction in choice over the last two years.
The importance of the utility of 3PL service providers was realized by the Chinese automotive industry by adopting the third-party logistics model, an important policy shift. Growing recognition of the role of outsourcing of logistics services coupled with growth in production and trade and global economic revival are the major factors driving growth in the global third party logistics market. High fuel prices pose a major challenge for the third party logistics companies and to meet this challenge they are adopting various measures, such as changing mode of transport, realigning DC network to reduce mileage, and most importantly implementing route optimization software.
The ever increasing requirement for outsourced logistics services and enter of new players has made the global third party logistics market intensely competitive. The quality of service and the ability to develop innovative solutions to meet customers' sophisticated information & service requirements are few of the most significant factors determining the competition in the third party logistics market.
The present report analyzes the third-party logistics (3PL) market. It analyzes the growth of the global and US markets. Further, the report presents an analysis of the various growth drivers and the challenges faced by the companies operating within the industry. The report profiles the leading companies in the global third party logistics market with a discussion of their business strategies.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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