Global 3PL industry worth $1.2 trillion by 2020

Forklift-2

According to ReportsnReports.com’ Global and China Third-party Logistics Industry Report, 2016-2020, published on 10 February, the global third-party logistics industry will be worth US$900 million ($1.2 trillion) by 2020.

The market research firm reports that the global third-party logistics market hit US$721 billion in 2015 ($940 billion), occupying 8.2 per cent of the logistics market size and a year-on-year increase of 4.5 per cent. In 2016, the value of the market increased to US$757 billion (987 billion).

“In the future, by virtue of high efficiency and highly standardised operation, the third-party logistics market size will grow steadily, expectedly outstripping USD900 billion in 2020, with a share of nearly 10.0% in the logistics market size,” the company said.