2014-02-12 15:23:01 - Global 3PL Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global 3PL market (Third Party Logistics) is to grow at a CAGR of 4.47 percent over the period 2012-2016. By using 3PL services, the cost incurred by the shipper reduces and this is a key factor that contributes to the market growth. The Global 3PL market has also been witnessing the use of cloud technology to help with the centralization of processes. However, product security and trust issues could pose a challenge to the growth of this market.
In recent years, cloud technology is fast gaining popularity across the world and in various industries. The 3PL providers are also embracing cloud technology, where all their data would be stored in the cloud and can be accessed at any point of
time. Moreover, cloud technology would provide the shippers a control over the data and process. More importantly, it would help in establishing transparency in the relationship between the vendors and the clients. In addition, it would solve the IT system compatibility issues faced by both sides. The future 3PL services would be cloud-based, thereby enabling shippers across the globe to access 3PL services and systems. Thus, the centralization of data with cloud technology is an emerging trend that will drive the market in the future years.
One of the main drivers in this market is the reduction in logistics cost achieved by shippers by availing the services of 3PL providers. By outsourcing the logistics part of their operations to 3PL providers, customers can improve the efficiency of their business by focusing on their core competencies.
One of the main challenges in this market is the concerns relating to product security and trust. Customers are concerned about the security of the products to be delivered owing to the high cost of the products to be shipped.
The key vendors dominating this space include DB Schenker, Deutsche Post DHL, Kuehne + Nagel International AG, and Nippon Express Co. Ltd. The other vendors mentioned in the report are C H Robinson Worldwide Inc., CEVA Group Plc, DSV A/S, Hyundai Glovis Co. Ltd., Panalpina Welttransport Holding AG, and United Parcel Service of America, Inc.
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