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Are you looking to add 3PL to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important 3PL statistics of 2023.
My team and I scanned the entire web and collected all the most useful 3PL stats on this page. You don’t need to check any other resource on the web for any 3PL statistics. All are here only 🙂
How much of an impact will 3PL have on your day-to-day? or the day-to-day of your business? Should you invest in 3PL? We will answer all your 3PL related questions here.
Please read the page carefully and don’t miss any word. 🙂
On this page, you’ll learn about the following:
Best 3PL Statistics☰ Use “CTRL+F” to quickly find statistics. There are total 74 3PL Statistics on this page 🙂
3PL Market Statistics
- 3PL market expandedby roughly 29 percent.
- The study also indicates that the global market for 3PL increased 8.1% from 2016 to 2017.
- With 86% of American shoppers using a minimum of two channels and spending up to 11 hours a day engaging with electronic media, having a strategy to target this flourishing market is crucial for growth.
- Additionally, in the United States alone, ecommerce grew 14.2% in 2018 , reaching $517.36 billion making the U.S. the third largest and most advanced ecommerce marketplace in the world.
- Amazon saw 30% growth in 2018 sales, giving it a shocking 50% of the $500 billion+ U.S. ecommerce market.
- The global third party logistics market was valued at $1,027.71 billion in 2019, and is projected to reach $1,789.94 billion by 2027, registering a CAGR of 7.1% from 2020 to 2027.
- A. 7.1% is the CAGR of 3PL market by 2027.
- market was valued at $1,027.71 billion in 2019, and is projected to reach $1,789.94 billion by 2027, registering a CAGR of 7.1% from 2020 to 2027.
- The market size of the Third Party Logistics industry is expected to increase 8% in 2023.
- The market size of the Third Party Logistics industry in the US has grown 2.2% per year on average between 2017 and 2023.
- In 2019, the rail & road mode captured more than 25% of the third party logistics market share.
- Get more details on this report Request Free Sample PDF Asia Pacific third party logistics market size is forecast to register growth rate of over 10% through 2026 on account of strong roadways in the region, enabling the transit of a high volume of goods.
- The APAC 3PL market will expand at over 10% CAGR till 2026 led by strong roadways in the region, enabling the transit of a high volume of goods.
- In 2019, the rail & road mode accounted for around 25% of the global market as these modes provide cost saving opportunities, environment friendly surface transportation mode and high capacity.
3PL Software Statistics
- 27% reported that finding and acquiring additional warehouse space was their top priority 87% of participating warehouses use warehouse management software.
3PL Latest Statistics
- Moreover, 91% of 3PL users and 97% of 3PL providers report their relationships are successful and their work has positive results.
- 75% of shippers said the use of 3PL services has contributed to overall logistics cost reductions.
- 86% of shippers said the use of 3PLs has contributed to improved customer service.
- 58% of shippers indicate they are increasing their use of outsourced logistics services this year.
- 73% of shippers interact with their 3PL on a daily or hourly basis.
- $39 $59 per month * in the first 12 months 33% off until Jun 30th Profit from additional features with an Employee Account.
- So far in 2019, total 3PL revenue is at $194B, with a 3% annual growth, and more than 425,000 industry employees.
- A full 81% outsource their domestic transportation, while 71% outsource international transportation.
- Respondents who outsource warehousing came in at 69%, and those who outsource their freight forwarding numbered 50%.
- Customs brokering was outsourced by 40% of the respondents.
- Of the respondents, 93% of them believed that strong IT capabilities are an important component of a 3PL partner, with 55% stating that they’re satisfied with their 3PL’s IT abilities.
- While increases were up worldwide, Russia saw the biggest increase of 17.5%.
- Additionally, 63% of shippers indicated that they would increase their use of 3PL services.
- This correlates with 86% of 3PL providers who stated their customers increased their use of outsourced logistics services, up from 81% in the previous year.
- However, 28% of shippers indicated that they would be insourcing many of their logistics, and 36% of 3PL providers agree that their customers are returning to insourcing, but that number is down from 42% the previous year.
- While the past few years have offered many challenges for logistics professionals, such as increased shipping rates and trade agreement uncertainty, 2020 is predicted to offer balance to a growing supply chain ecosystem.
- The online shopping sector continues to grow posting an additional 15% growth during 2018, as consumers spent over $517 billion in the U.S. alone.
- In fact, 3PLs saw a 21.6% revenue increase between 2016 and 2018.
- According to Forbes, the number of ecommerce packages sent has increased by more than 20% over the past few years to a total of 165 billion packages shipped in 2018.
- The company continues to expand its own 3PL service offerings to merchants through a series of partnerships, acquisitions, and technological applications, according to firm Armstrong & Associates,.
- The firm has predicted that “Amazon’s growth in the form of third party sales, international expansion, and new product categories will cause Amazon to present increasing competition to 3PLs.
- 84% of consumers say that they won’t return to a brand after just one poor delivery experience.
- Furthermore, 89% of younger consumers are likely to promote a brand as a result of a positive customer experience.
- Additional shipping options such as sameday or within hours Options to have products delivered or available for instore pickup 100% accurate, fast, and perfectly branded fulfillment of orders Real time visibility into product tracking and delivery.
- The ability to change the final destination of a product in middelivery Easy to follow and 100% hassle free returns of products.
- But those expectations are about to rise even further with the arrival of a whole new wave of consumers known as “Gen Z.” Born after 1995, this new block of shoppers will constitute nearly 40% of all consumers by 2020.
- As of 2018, according to Armstrong & Associates, 86% of domestic Fortune 500 companies use 3PLs for logistics and supply chain functions.
- A. Major number of third party logistics companies are experiecncing atleast around 25% reduction in the supply chain operations due to COVID.
- $212.0bn ThirdParty Logistics in the US Market Size in 2023 8% ThirdParty Logistics in the US Market Size Growth in 2023 2.2% Third Party Logistics in the US Annualized Market Size Growth 2017–2023.
- Market size exceeded USD 1 trillion in 2019 and is estimated to grow at 9% CAGR between 2020 and 2026.
- Furthermore, due to U.S.China trade war in 2019, tariffs increased by 25% (from 10%).
- Statistics include 50% of respondents reported running above their recommended warehouse capacity, with limited room for expansion.
- 82% recorded B2B to be their top type of order fulfilment offered.
- 62% have less than 250,000 sq.
- For example, providing data that omnichannel fulfilment warehouses were 271% more likely to fall into the fastest growing 3PL warehouse’s category (25%+ growth).
- Reshoring ‘could take years’ says New Balance sourcing chiefLogistics Tesla’s suppliers facing cost increases ‘of up to 30%’Digital Supply Chain.
- andn = 30 items according to the null model.
- For the thirdType I error study, the empirical probability of making a Type I error ratewhen significance is assessed according to the nonstandard mixtureχ2 distribution was also calculated for comparative purposes.
- In the first Type I error study, the data were generatedaccording to a Rasch model with difficulty parameters b ranging from −2.25 to 2.25 increasing in increments of0.15, with 0 excluded.
- However, in the second study, none of theLR test results were significant even at the α = .10 level according to theχ2reference distribution.
- ,at least one of the 30 tested null hypotheses was incorrectly rejected whenthe correct mixture χ2 distribution was used to assess significance at acomparisonwise error rate of .05, leading to an estimated familywise errorrate of .776.
- It was anticipated that the further the true values ofthe guessing parameters were from 0, the more likely it would be that adeparture from the null value would be detected.
- However, these tests hadadequate power (e.g., higher than 80%).
- Also evident in Table is the loss of power that occurred when the significance of anoutcome was assessed according to the incorrect standard χ2reference distribution as opposed to the correct mixtureχ2 distribution.
- Comparatively, this same test for Item 30 had an estimated 100% power wheneither reference distribution was used.
- For suchitems, there was again a noticeable difference between the power estimatesaccording to the standard χ2reference distribution and the correct null distribution,which is a 55 mixture of the χ2and χ2distributions.
- The statistical significance of the LR statistics was assessed according to a5050 mixture of χ2 distributions with 0 and 1 degrees of freedom.
- This produced an 80% empty 173 x 24,944 matrix of dichotomies.
- Principal component analysis of the 16×16 raw correlations finds a 1st factor absorbing 88% of the total variance and a 2nd factor of less than 3%.
- Lower asymptotes were estimated for the 13 NALS MCQ items.
- The US Bureau of Labor Statistics reports that the turnover rate in the transportation, warehousing, and utilities sector was an alarming 59.5% for 2020.
- An International Association of Refrigerated Warehouses report noted that on average, employee turnover was 32.5% in 2018.
- A New York Times investigation of Amazon, as reported in Marketplace reported a turnover among the retailer’s hourly warehouse associates at around 150% a year, even before the pandemic.
- KANE’s warehouse turnover rate is currently 22%.
- Our take This is a marked contrast to the 11% and 15% growth in U.S. eCommerce sales in 2018 and 2019.
- Percentage of U.S. eCommerce sales that Amazon is currently responsible for.
- The report shows that for Q421, the invoice amount per shipment, total shipments, and total revenue improved by 7%, 3%, and 10% compared to Q321.
- “It follows that, as you examine the statistics in this package you realize that they represent a peaking of favorable brokerage conditions that is unlikely to persist in 2023,” said Perry.
- The report includes detailed 3PL activities by transportation mode and measures comparative volume, revenue, margin, and margin percentages, and quarterly and year over year.
I know you want to use 3PL Software, thus we made this list of best 3PL Software. We also wrote about how to learn 3PL Software and how to install 3PL Software. Recently we wrote how to uninstall 3PL Software for newbie users. Don’t forgot to check latest 3PL statistics of 2023.
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How Useful is 3pl
At its core, 3PL refers to the outsourcing of logistics activities to specialized companies that specialize in managing these processes. These third-party logistics providers offer a wide range of services, depending on the needs of the businesses they serve. From basic transportation of goods to advanced value-added services such as inventory management, packaging, and order fulfillment, 3PL can cover every aspect of a supply chain.
One of the most significant advantages of partnering with a 3PL company is the resource optimization it offers. Logistics requires substantial investments in terms of infrastructure, technology, and manpower. By outsourcing these functions to a specialized provider, companies can reduce their investment and allocate resources to their core competencies. This brings about significant cost savings and capital optimization, enabling businesses to focus on their key strategic objectives.
Furthermore, 3PL providers often possess extensive industry expertise and access to a vast network of partners. These qualities allow them to offer tailored solutions that meet the specific requirements of their clients. With their experience, they can optimize supply chain processes, identify inefficiencies, and implement best practices, thereby improving overall productivity. From adopting the most efficient transportation routes to leveraging advanced inventory management techniques, 3PL providers excel in streamlining operations and ensuring timely delivery of goods.
In addition to these advantages, 3PL also offers flexibility and scalability, two essential necessities for successful business growth. Logistics requirements tend to fluctuate, whether due to seasonal demands or sudden changes in market conditions. A dedicated 3PL partner can easily adapt to these changes and seamlessly scale the logistical operations up or down as needed. This level of flexibility eliminates the need for businesses to invest in additional resources or infrastructure, allowing them to remain agile and respond swiftly to market dynamics.
While 3PL has gained significant popularity and offers immense value, it is crucial for businesses to carefully consider the choice of their logistics partner. The right fit depends on factors such as industry specialization, geographical coverage, technological capabilities, and cost-effectiveness. Furthermore, open communication and a strong partnership between companies and their 3PL provider are crucial for achieving desired outcomes.
In conclusion, 3PL is an invaluable resource for businesses looking to enhance their supply chain management practices. It empowers companies to focus on core competencies, reduces costs, optimizes resources, and leverages industry expertise. Streamlining operations, improving efficiency, ensuring timely deliveries, and maintaining adaptability are just a few of the many benefits that 3PL provides. By partnering with a reliable and compatible 3PL provider, businesses can navigate the complexities of the global market, satisfy customer demands, and establish a competitive edge.
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