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 & reaching US$ 2.3 Billion by 2032 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%
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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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.
Key Segments Covered In The 3PL Software Market Report
3PL Software Market by Mode of Transport:
- 3PL Software for Railways
- 3PL Software for Roadways
- 3PL Software for Waterways
- 3PL Software for Airways
3PL Software Market by Service Type:
- 3PL Software for Dedicated Contract Carriage (DCC)
- 3PL Software for Domestic Transportation Management
- 3PL Software for International Transportation Management
- 3PL Software for Warehousing & Distribution
- 3PL Software for Other Service Types
3PL Software Market by Industry:
- 3PL Software for the Technological Industry
- 3PL Software for the Automotive Industry
- 3PL Software for the Retailing Industry
- 3PL Software for the Elements Industry
- 3PL Software for the Food & Groceries Industry
- 3PL Software for the Healthcare Industry
- 3PL Software for Other Industries
3PL Software Market by Region:
- North America 3PL Software Market
- Latin America 3PL Software Market
- Europe 3PL Software Market
- Asia Pacific 3PL Software Market
- Middle East & Africa 3PL Software Market
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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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