3PL revenues to surpass $1.4 trillion by 2022

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Research recently released by supply-chain market research firm Armstrong & Associates reveals that the global third-party logistics market is on track to exceed US$1.1 trillion ($1.4 billion) in 2022, having reach US$802 billion ($1.03 billion) in 2016.

The research, which covered seven major regions comprising 190 countries, found that global logistics costs were $8.2 trillion ($10.6 trillion) in 2016 and should surpass $11.1 trillion in 2022 ($14.3 trillion). Globally, the Asia Pacific region is the largest logistics market accounting for 39 per cent of total global logistics costs and 38 per cent of total global 3PL revenues.

The complete report can be found here.