The growth of e-commerce continues on a stellar note with unprecedented orders from consumers, pressurizing 3PL tech service providers to offer creative solutions that can alleviate the stress in the supply chain. As a result, 3PLs are in search of the perfect balance between effectiveness and affordability while maintaining a steady flow of inventory to gratify demand. The reliance on technology to boost efficiency has increased in recent years and is expected to grow rapidly as time progresses.
In tandem, the global 3PL market is estimated to reach $1.85 trillion by 2027, according to recent market estimates. The analysis also predicts that the growth will take place at a CAGR of 7.3-percent during this period. One of the factors contributing to the growth is the transparency 3PL services are providing through the use of GPS trackers, RFID sensors, and Bluetooth technology in cargo monitoring solutions. These tracking technologies are employed in shipping and storage, and they enable product owners and recipients to follow their deliveries in real-time via mobile applications. Blockchain technology has also proven to be a game-changer in addressing the challenges in 3PL. Combined with shipment management, it can eliminate errors in records through digitization.
To put the spotlight on such key developments in the industry, Logistics Tech Outlook illustrates how companies are leveraging solutions and the latest technologies to augment 3PL services and meet the expectations of businesses. This edition features a thought leadership article from Todd Williams, President at KINEXO, which provides insight on building strategies for businesses that focus on agility along with improving efficiency.
In this edition of Logistics Tech Outlook, we also bring to you some of the stories of top executive 3PL service providers that deliver the best outcome for their clients. This list presents Service Driven Transport, a 3PL tech service provider that is striking for its timely delivery of clients’ products to their destination on time with utmost care and efficiency through their robust transportation management systems.
Through the following pages, we aim to shine a light on innovative trends and the latest developments in the 3PL sector.
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