U.S. 3PL Market Set to Grow 5.2% This Year
July 11, 2014
U.S. 3PL Market 1996-2014 gross revenues, estimated, in billions of dollars. Credit: Armstrong & Associates
The U.S. third-party logistics market gross revenue grew 3.2% from 2012-2013 and growth will be 5.2% for 2014 as the U.S. economy continues to expand, according to a new report from the supply chain management market research and consulting firm Armstrong & Associates.
It forecasts net revenues are expected to increase by 4.3% from $64.6 billion in 2013 to $67.4 billion in 2014. Gross revenues are expected to hit $154 billion in 2014, up from $146.4 billion the previous year.
Domestic transportation management is expected to increase 7.5%.
“Growth in DTM continues to be fed by the expansion of the base of customers using third-party logistics providers,” said the group. “It is common now for customers with as little as $3 million in transportation spend to use at least one 3PL. Similarly, third-party logistics services provided are more systems-driven rather than just load-by-load transactions.”
The complete report can be found on the Armstrong & Associates website.