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3PL boom on horizon, boosted by e-commerce and outsourcing trends
E-COMMERCE and outsourcing is fuelling demand for third-party logistics (3PL) services, and will drive 3PL revenues to over US$1.1 Trillion by 2022, according to a report released by Armstrong & Associates.
In 2016, the global 3PL market reached $802 billion, reports New York's Air Cargo World.
Armstrong & Associates research found that global logistics costs were $8.2 trillion in 2016, with the firm predicting that number to surpass $11.1 trillion in 2022.
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.
In 2016, the global 3PL market reached $802 billion, reports New York's Air Cargo World.
Armstrong & Associates research found that global logistics costs were $8.2 trillion in 2016, with the firm predicting that number to surpass $11.1 trillion in 2022.
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.
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