Market growth driving 3PL revenues to over $1.1 Trillion by 2022
WEST ALLIS, WI - As an expansion of our annual third-party logistics market analysis released this past June, Armstrong & Associates, Inc. (A&A) has developed global logistics cost and third-party logistics (3PL) revenue estimates with projections through fiscal year 2022. Our global 3PL market estimates cover seven major regions comprising 190 countries.
In 2016, the global third-party logistics market reached $802 billion and is on track to exceed $1.1 trillion in 2022. Global logistics costs were $8.2 trillion in 2016 and should surpass $11.1 trillion in 2022. Globally, the Asia Pacific region is the largest logistics market accounting for 39% of total global logistics costs and 38% of total global 3PL revenues.
In addition to global 3PL revenue and logistics spend estimates covering years 2010-2022, A&A’s “Global and Regional Infrastructure, Logistics Costs, and Third-Party Logistics Market Trends and Analysis” also covers: infrastructure’s role with a focus on Brazil, India and China; Fortune 500 Global 3PL revenues and growth by industry; e-commerce logistics costs, 3PL revenues and growth rates; 3PL market segment revenues by country and region; and logistics spend by country and region and by mode and function. Global “Top 3PL” lists are also included.