3PL Statistics


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3Pl Statistics 2023: Facts about 3Pl are important because they give you more context about what’s going on in the World in terms of 3Pl.

LLCBuddy editorial team scanned the web and collected all important 3Pl Statistics on this page. We proofread the data to make these as accurate as possible. We believe you don’t need to check any other resource on the web for 3Pl Facts; All are here only 🙂

Are you planning to form an LLC? Thus you need to know more about 3Pl? Maybe for study projects or business research or personal curiosity only, whatever it is – it’s always a good idea to know more about the most important 3Pl Statistics of 2023.

How much of an impact will 3Pl Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your 3Pl related questions here.

Please read the page carefully and don’t miss any words.

On this page, you’ll learn about the following:

Top 3Pl Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 32 3Pl Statistics on this page 🙂

3Pl “Latest” Statistics

  • According to logistic companies, finding and purchasing more warehouse space was the number one priority, according to 27% of respondents.[1]
  • Warehouse management software is used by 87% of the participating warehouses.[1]
  • 84% of customers claim that after only one bad delivery experience, they won’t use a brand again.[2]
  • Forbes reports that during the previous four years, the number of e-commerce goods delivered has climbed by more than 20%, reaching a total of 165 billion items sent in 2018.[2]
  • 86% of domestic Fortune 500 companies employ 3PLs for logistics and supply chain tasks as of 2018, according to Armstrong & Associates.[2]
  • 89% of younger customers say they’re more inclined to recommend a company when they had a good experience with it.[2]
  • Around 25% of the worldwide market in 2019 was made up of railroads, which provide prospects for cost savings, environmentally friendly surface transportation, and high capacity.[2]
  • Between 2020 and 2026, the market is expected to increase at a 9% CAGR, surpassing the USD 1 trillion mark in 2019.[2]
  • Strong regional roads that permit the transportation of a large amount of cargo will drive the APAC 3PL market’s growth at over 10% CAGR through 2026.[2]
  • Between 2017 and 2022, the Third Party Logistics industry in the US increased by 2.2% annually on average.[2]
  • U.S. eCommerce sales increased by 11% and 15% in 2018 and 2019, respectively.[2]
  • 86% of American consumers utilize at least two channels and interact with electronic media for up to 11 hours each day.[2]
  • One of the most urgent issues facing 3PLS, according to 21% of them, is finding warehouse space.[3]
  • 33% of 3PLS showed a strong profitability increase of more than 25%, and 79% of 3PLS reported better profitability over the last year.[3]
  • According to reports, the growth rate in the United States will end up being approximately 3.2% in 2021.[3]
  • 71% of people outsource their international transportation, whereas 81% of people outsource their local transportation.[4]
  • 28% of shippers said they will outsource most of their logistics, and 36% of 3PL providers concur that their clients are returning to outsourcing, albeit that percentage is down from 42% the year before.[4]
  • 55% of respondents said they were happy with their 3PL’s IT skills, and 93% of respondents said strong IT capabilities were a crucial aspect of a 3PL partner.[4]
  • 69% of respondents said they outsource their warehousing, and 50% said they outsource their freight forwarding.[4]
  • With over 425,000 sector personnel and $194 billion in total 3PL revenue thus far in 2019, the industry is growing at a 3% yearly rate.[4]
  • The 3PL market was estimated to be worth $1,027.71 billion in 2019 and is anticipated to grow to $1,789.94 billion by 2027, representing a 71% CAGR from 2020 to 20.27.[5]
  • There are no firms with more than 5% of the market in the Third-Party Logistics industry in the US, which has a low market share concentration.[6]
  • Over the five years between 2017 and 2022, the number of enterprises in the U.S. Third-Party Logistics industry in the US sector increased by 21% annually on average.[6]
  • According to research by the International Association of Refrigerated Warehouses, staff turnover was on average 32.5% in 2018.[7]
  • According to the US Bureau of Labor Statistics, the turnover rate for 2020 employees in the transportation, warehousing, and utility sector was alarmingly high at 59.5%.[7]
  • 91% of 3PL consumers and 97% of 3PL providers say their interactions are fruitful and their work yields favorable outcomes.[8]
  • 75% of shippers said that using 3PL services helped lower overall logistics costs.[8]
  • Inquire about prices when partnering with a new 3pl, there are significant initial charges, but over time, you’ll probably save money on lower overhead and labor costs.[9]
  • Breaking fulfillment commitments to customers may have a significant negative impact on your company, especially in an era when 60% of consumers worldwide demand same-day, next-day, or two-day delivery.[9]
  • 37% of retailers said they intended to recruit new 3PL fulfillment companies or switch existing ones in the next year.[9]
  • 90% of Fortune 500 companies seek assistance from third-party logistics providers.[9]
  • Rents for warehouse space are forecast to rise by 10% in the next year, and the shortage of 140 million square feet of warehouse space anticipated by 2024 will undoubtedly drive up the cost of storage facilities.[9]

Also Read

How Useful is 3PL

First and foremost, 3PL offers companies the ability to focus on their core competencies by outsourcing their logistics functions to experts in the field. This allows businesses to free up valuable time and resources that can be redirected towards other strategic initiatives, such as product development, marketing, and customer service. By entrusting their logistics operations to a third-party provider, companies can tap into a wealth of knowledge and experience that can help optimize their supply chain processes and drive cost savings.

Another key benefit of 3PL is the access to advanced technology and infrastructure that these providers bring to the table. With the rapid advancements in technology, companies need to constantly upgrade their logistics systems to stay competitive. 3PL providers are well-equipped with state-of-the-art software and tracking systems that can improve visibility, increase transparency, and streamline operations. This technological edge can help companies stay ahead of the curve and adapt quickly to changing market conditions.

Additionally, 3PL providers offer scalability and flexibility that can help companies navigate fluctuations in demand and respond to unforeseen disruptions. With the ability to adjust resources and capacity as needed, companies can avoid overcommitting to fixed assets and better manage their supply chain costs. Furthermore, 3PL providers can offer valuable insights and recommendations based on their industry expertise, helping companies make informed decisions and stay agile in a dynamic marketplace.

Furthermore, 3PL can help companies expand their reach into new markets by leveraging the provider’s global network and distribution channels. This can be particularly beneficial for companies looking to enter international markets or expand their footprint in regions where they may not have a strong presence. By partnering with a 3PL provider, companies can tap into a network of carriers, warehouses, and suppliers that can help them navigate complex regulatory requirements and customs procedures, ensuring seamless operations and timely delivery of goods.

In conclusion, the usefulness of 3PL cannot be overstated in today’s competitive business environment. By leveraging the expertise, technology, and resources of third-party logistics providers, companies can optimize their supply chain operations, drive cost savings, improve efficiency, and gain a competitive edge in the marketplace. As businesses continue to evolve and face new challenges, partnering with a 3PL provider can be a strategic decision that pays dividends in the long run.

Reference

  1. supplychaindigital – https://supplychaindigital.com/logistics/3pl-central-year-review-3pl
  2. webinarcare – https://webinarcare.com/best-3pl-software/3pl-statistics/
  3. 3plcentral – https://www.3plcentral.com/blog/3pl-statistics-you-should-know
  4. 3plworldwide – https://www.3plworldwide.com/statistics-for-3rd-party-logistics-companies/
  5. alliedmarketresearch – https://www.alliedmarketresearch.com/3PL-market
  6. ibisworld – https://www.ibisworld.com/industry-statistics/number-of-businesses/third-party-logistics-united-states/
  7. kanelogistics – https://www.kanelogistics.com/blog/whats-your-warehouse-turnover-rate
  8. plslogistics – https://www.plslogistics.com/blog/8-fascinating-statistics-from-shippers-about-3pls
  9. shopify – https://www.shopify.com/enterprise/third-party-logistics-3pl

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