3PL Software Market to Reach US$ 2.3 Bn by 2032 -Future Market Insights, Inc.

The use of 3PL software can indirectly generate US$ 1.1 billion by 2022-2032, and this will increase with technological development in the industry that makes maximum use for it - growing at a 6.3% CAGR over time period forecasted. The 3PL Software Market within China is also expected grow steadily throughout these years.

NEWARK, Del., June 7, 2022 /PRNewswire/ -- According to a recently published report by Future Market Insights, the global 3PL software market is estimated at US$ 1.20 Billion in 2021 and is projected to reach US$ 1.24 Billion by 2022. It is predicted that the market will grow at a CAGR of 6.4% between 2022 and 2032. The ability to collect data electronically, automate warehouses, and digitize the entire supply chain has allowed companies to adopt a personalized, adaptable, and customer-centric approach to software in the market.

Consequently, 3PL companies utilize technologically advanced solutions to gain a competitive advantage in a highly competitive market by using blockchain solutions, mobile technologies, and 3PL software. From 2015-2021, the industry experienced a CAGR of 7.1%.

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Using Automated Guided Vehicles (AGVs) can result in fewer human errors, improved workflow, increased precision, and improved productivity and service. Increasingly, companies are embracing logistics automation to deliver immediate value and long-term results.

Reduced operational costs are the result of shippers shifting their focus from logistics and back-office activities such as warehouses, order picking & packing, kitting & final assembly, sourcing, and labeling. Shippers can use these value-added software services to mitigate inventory & transportation costs, which in turn is becoming a boon for the 3PL software market.

Key Takeaways:

• Global 3PL software market to flourish 1.8x during the forthcoming decade, reaching US$ 2.3 Billion
• 3PL software to generate an absolute value of US$ 1.1 Billion from 2022-2032
• Technological industry to make maximum use of 3P software, growing at a 6.3% CAGR
• By mode of transport, roadways segment to expand at a CAGR of 6.5% during the forecast period
• In the U.S., the market is predicted to reach US$ 839.5 Million while growing at a CAGR of 6.2% during the forecast period
• China's market is expected to reach a market value of US$ 174.6 Million with a CAGR of 6.1%

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"Supporting the rapid growth of automated logistics services, E-commerce, and IoT solutions over the upcoming years will help to increase demand for 3PL software in the future," remarks an analyst at FMI.

Competitive Landscape

Through strategic partnerships, manufacturers can increase production and meet consumer demand, increasing both their revenues and market share. The introduction of new products and technologies will allow end-users to reap the benefits of new technologies. Increasing the company's production capacity is one of the potential benefits of a strategic partnership.

• In May 2022, Enveyo, announced that its Insights parcel analytics platform has helped Saddle Creek Logistics Services streamline and automate the management of parcel analytics and client billing. As part of the implementation of Enveyo's parcel analytics solution, Insights, Saddle Creek eliminated the manual and time-consuming process of shipment reporting and billing.
  
  
• In May 2022, Zethcon Corporation has announced that the company's flagship Synapse WMS product has been successfully implemented by RBW Logistics, a third-party logistics provider (3PL) based in Augusta, Georgia. For RBW to best serve existing customer needs and provide expanded capabilities required to support new growth opportunities, Zethcon provided its warehouse management system (WMS) and 3PL expertise.

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Key Segments Covered In The 3PL Software Market Report

By Mode of Transport:

• Railways
• Roadways
• Waterways
• Airways

By Service Type:

• Dedicated Contract Carriage (DCC)
• Domestic Transportation Management
• International Transportation Management
• Warehousing & Distribution
• Other Service Types

By Industry:

• Technological Industry
• Automotive Industry
• Retailing Industry
• Elements Industry
• Food & Groceries Industry
• Healthcare Industry
• Other Industries

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

More Valuable Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the global 3PL software market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights by mode of transport (railways, roadways, waterways and airways), service type (dedicated contract carriage (DCC), domestic transportation management, international transportation management, warehousing & distribution and others) and industry (technological, automotive, retailing, elements, food & groceries, healthcare and others) across five major regions (North America, Europe, Asia Pacific, Middle East and Africa, Latin America).

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Table of Content

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Summary of Statistics

    1.3. Key Market Characteristics & Attributes

    1.4. FMI Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Risks and Trends Assessment

    3.1. Risk Assessment

        3.1.1. COVID-19 Crisis and Impact on 3PL Software Demand

        3.1.2. COVID-19 Impact Benchmark with Previous Crisis

        3.1.3. Impact on Market Value (US$ Mn)

        3.1.4. Assessment by Key Countries

        3.1.5. Assessment by Key Market Segments

        3.1.6. Action Points and Recommendation for Suppliers

    3.2. Key Trends Impacting the Market

    3.3. Formulation and Product Development Trends. Click Here For Full TOC

About the Technology Division at Future Market Insights

The technology team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.

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About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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