Global Third Party Logistics Markets, 2020-2027 - Rise in Demand for Reducing Overall Operational Cost and Focus on Managing Timely Delivery
DUBLIN, March 29, 2021 /PRNewswire/ -- The "Third Party Logistics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Mode of Transport, Services, and End User; and Geography" report has been added to ResearchAndMarkets.com's offering.
Increasing Adoption of E-commerce to Provide Growth Opportunities for Third Party Logistics Providers.
The logistics requirement and services provided by the 3PL firms to e-commerce business are supply chain management, warehousing, consolidation service, and order fulfillment. In the e-commerce business, 3PL providers deliver flexibility and scalability, upgraded technology, and efficiency and specialization. There are numerous benefits related to e-commerce and it can be fulfilled if the company outsource their logistics requirements to a third party service provider.
This enables the e-commerce participants to perform their specialized roles. Thus, it is a reliable alternative to outsource third party organization in the e-commerce ecosystem. 3PL firms are specialized in supply chain management that allow online stores to emphasize on marketing and other business operations.
The roadways mode of transport segment led the third party logistics market in 2019.In road transport, the vehicles are owned and managed by a third party and the transportation operations are adhered to licensing, insurance, and regulation of vehicles. The vehicle also requires documentation pertaining to maximum permissible weight in terms of gross vehicle weight and payload. In third party logistics, roadways are considered one of the feasible alternative as it ensures rapid and cost-effective transportation. However, roadways transport system is weather sensitive.
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SOURCE Research and Markets