3PL revenues on track to hit $1.1 trillion by 2022

A report released by Armstrong & Associates shows e-commerce and outsourcing fueling demand for third-party logistics (3PL) services, driving 3PL revenues to over US$1.1 Trillion by 2022.

In 2016, the global 3PL market reached $802 billion.

Armstrong & Associates research found that global logistics costs were $8.2 trillion in 2016, with the firm predicting that number to surpass $11.1 trillion in 2022.

Globally, the Asia Pacific region is the largest logistics market accounting for 39 percent of total global logistics costs and 38 percent of total global 3PL revenues.

Click here to download the full report.