- The 3PL market in China is expected to grow at a CAGR of 17.28 percent during the forecast period of 2013-2018.
London, 12 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Third-party Logistics (3PL) Market in China 2014-2018. The report analyzes the emerging trends and technological advancements in this market which has encouraged the government to take certain initiatives propelling market growth.
Categorization of Logistics Services in China
Logistics service provider that provides services such as transportation, warehousing, and freight and forwarding is called a 3PL provider. 3PL providers go beyond logistics and provide value-added services such as inventory management, cross-docking, door-to-door delivery, and packaging of products, strategic and operational value to many shippers across the globe. Currently, 3PL improves logistics effectiveness by introducing new and innovative supply chain management.
The Chinese government has taken initiatives to develop roads and transport services, triggering the growth of the 3PL market in China. The government in its 12th Five-year Plan (2011-2015) highlighted to invest a hefty amount for the expansion of rail networks, which includes the introduction of new high-speed trains, laid several policies to enhance the transportation management system by giving more provision for inclusion in IT-related SCM services. Such initiatives have been taken to propel the demand for outsourced logistics in China during the forecast period.
“The 3PL market in China is witnessing a huge demand for professional logistics services that provide high-end logistics and supply chain solutions with value-added services such as the assortment and grading of products, packaging, MIS services in the logistics supply chain, and other legal formalities necessary in the process,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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