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Ecommerce and Outsourcing Fueling Revenue Growth for Third-Party Logistics Providers

According to the latest data from supply chain consultancy Armstrong & Associates, in 2016, the global third-party logistics market reached $802 billion and is on track to exceed $1.1 trillion in 2022.

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According to the latest data from supply chain consultancy Armstrong & Associates, in 2016, the global third-party logistics market reached $802 billion and is on track to exceed $1.1 trillion in 2022.

Uber has officially launched Uber Freight, the company’s new service that will match truckers with companies who need cargo shipped across the country.

The trend set over the past few years for mergers and acquisitions has hardly subsided, and a fresh injection of equity investment is transforming the marketplace, at the same time, shippers may expect to see 3PLs continue to purchase high-tech “solutions” and hire young professionals for implementation.

The report is ideal for shippers seeking a spare parts logistics provider, for providers that wish to benchmark service offerings, or for researchers in need of market sizing data.

The report includes global spare parts logistics market estimates, which are further calculated at the country/region level and for major industry verticals, and details the logistics capabilities of seven leading providers.

In an increasingly interconnected world, where trade is a core component of economic activity, creating a more seamless global supply chain is now vital, however, a new generation of tech-savvy freight forwarders may be creating just the right amount of disruption the industry needs to improve synchronization.

Advanced logistics technologies will create a faster, cheaper and more sustainable circulation of goods.

The leading Third-Party Logistics market research firm profiled 27 companies providing "Uber for Trucking" solutions, and its research concludes that "Digital Freight Matching" is a much more apt description.

Following last year’s merger and acquisition frenzy, the speed of technology implementation by the new “mega 3PLs” will need to keep pace with the evolving challenges of omni-channel fulfillment, and those providers that meet shipper needs will remain dominant.

Third-party logistics is a key element of a U.S. economy that is the primary bright spot in the long tunnel of the global economic recovery, and in particular, the truck-related components of domestic third-party logistics have prospered during the current economic expansion.

In the wake of the recent acquisition of Norbert Dentressangle by XPO Logistics, the logistics community is bracing for even more major consolidation deals, and the third-party logistics provider (3PL) community is loving it, especially as their margins continue to widen - particularly throughout North America.

CarrierDirect notes logistics agent programs dwindle as business owners move towards stronger platforms such as franchising.

Since 1983, LEGACY Supply Chain Services has grown by a compound annual growth rate of 18% and continues to evolve by expanding its service portfolio, entering new customer industries, and strategically acquiring 3PL companies to become a fully integrated supply chain and logistics services provider.

Today’s savviest logistics practitioners are driving out costs from the transportation system and creating new “omni-channel” distribution networks designed to take advantage of customers’ changing buying habits. The results of the Council of Supply Chain Management Professionals’ 24th Annual State of Logistics Report, co-sponsored by Penske Logistics, shows that the sharpest logistics management professionals are saving their companies millions in transport, warehouse, and shipping costs.

Finding the right 3PL in today’s global marketplace involves looking beyond the provider’s “vision” statement. And there’s still an element of prognostication involved once a short list of the Top 50 has been whittled down.