The South East Asia Third-Party Logistics (3PL) market is foreseeing a high growth due to robust economic growth in countries like Vietnam, boom in number of retail and e-commerce players, and rise in disposable income of people. In addition, mushrooming foreign direct investment, rapid industrialization in countries such as Thailand, coupled with growth in reverse logistics operations, and extensive initiatives undertaken by governments in the region to accelerate 3PL in the countries is projected to fuel the demand for 3PL services in the forecast period.
According to MarkNtel Advisors’ research report titled “Southeast Asia Third-Party Logistics Market Analysis, 2020”, the Southeast Asia Third-Party Logistics market is anticipated to grow at a CAGR of around 5% during 2020-25. Based on mode, roadways segment captured the majority market share in the Third-Party Logistics market and is anticipated to continue its dominance throughout the forecast period.
However, airways segment is projected to grow at an astronomical rate in the coming years. Southeast Asia countries are more prone to natural calamities as these are located near coastal regions and large rivers, which makes airways ideal mode of transport.
“Southeast Asia Third-Party Logistics Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Third-Party Logistics providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Singapore Exhibited Significant Market Share
Singapore acquired the significant market share in the Southeast Asia Third-Party Logistic market owing to considerable number of cross-border e-commerce activities with other countries. Apart from this, rising international trade and investment, increasing internet and mobile penetration along with burgeoning logistics options is anticipated to strongly contribute to the market of 3PL in the country.
Thailand is projected to grow at a robust pace owing to the rising acceptance 3PL due to increasing outsourcing of logistics services in the country. Besides this, widespread increase in imports and exports across key countries, extensive regional trade, and increasing presence of e-commerce players are strongly contributing toward the market growth of the Third-Party Logistics market in the forthcoming period as stated in the MarkNtel Advisors’ research report “Southeast Asia Third Party Logistics Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in Southeast Asia include Deutsche Post, Nippon Express, C.H. Robinson, Kuehne + Nagel International, XPO Logistics, DB Schenker, DSV, Geodis, UPS, Sinotrans etc.
Key questions answered in the study