Indian 3PL Market Forecasts To Grow

Research and Markets has added the "3rd Party Logistics Market in India" report to their offering.

In this era of globalization, India is witnessing an increasing demand for the 3PL (third party logistics) business, with companies now concentrating on managing their supply chain mechanisms in a better way as well as to deepen their market penetration.

Continuous improvement in logistic infrastructure and increasing awareness about efficient logistic practices have led 3PL services to be perceived as a far better way of controlling both internal and external logistic processes.

Unfortunately, Indian 3PL services market is nowhere in comparison to the developed markets of the US and Japan, where use of 3PL services account for over 50 percent of the total logistic cost. Despite this, the Indian market is full of opportunities compared to these developed markets, because of the infrastructural development such as ports, highways, bridges as well as increasing connectivity and rising significance of logistic services in the country.

In line with this, Research and Markets expects that improving infrastructure and rising focus on core business operations will lead the future growth of the Indian 3PL market. The market is projected to witness a CAGR of around 26 percent during the forecast period (2011-2013), harvesting total revenue of nearly US$4.6 billion by 2013.