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Home » Study: Third Party Logistics Will Be Worth $925Bn by 2020

Study: Third Party Logistics Will Be Worth $925Bn by 2020

December 1, 2016
Supply Management

Orbis Research's study found that the challenges of managing geographically dispersed supply chain operations as a result of increased globalization has led to several companies to outsource their logistics function. Difficulties with addressing logistical challenges has also led to increased outsourcing by wholesalers and retailers, thereby boosting the 3PL industry.

It found that emerging trends such as Big Data and availability of bespoke 3PL services are expected to drive the market over the forecast period.

One fast growing segment of the trucking and distribution industry is expected to be Dedicated Contract Carriage (DCC), which refers to vehicles, drivers, and other resources exclusively devoted to serving part of a transportation network.

Several prominent retailers such as Wal-Mart, Target and Kroger are increasingly relying on this kind of service in order to increase truck capacity and reduce costs.

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Logistics Logistics Outsourcing Transportation & Distribution Technology Data Management (Big Data/IoT/Blockchain) Transportation Management High-Tech/Electronics Industrial Manufacturing
KEYWORDS Big Data/IOT High-Tech/Electronics Industrial Manufacturing Logistics Logistics Outsourcing Technology Transportation & Distribution Transportation Management
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