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3PL Service Providers to increase Using Robots & AR technology

3PL service providers are increasingly using robots and AR technology to improve efficiency and reduce warehousing costs.

3PL Service Providers to increase Using Robots & AR technology

The global 3PL services category is expected to register a CAGR of 10.7% from 2022 to 2030. In 2022, North America accounted for 35% of the market share followed by Europe and APAC. The APAC market is projected to grow fastest during the forecast period. The increase in online shopping along with the increasing demand for next-day delivery has forced logistics service providers to switch to automated systems and robots in warehouses across the world. Logistics service providers are constantly upgrading their technology to meet the rising consumer demand and improve efficiency & productivity. To minimize errors and optimize warehouse space, many companies have started using Automated Guided Vehicles (AGVs) and cobots alongside humans to perform tasks, such as packing, sorting, loading, and unloading.

Artificial Intelligence (AI) and Machine Learning (ML) technologies are used to enhance the automation capabilities of robots and to perform complex and dynamic tasks. Drones and Unmanned Aerial Vehicles (UAVs) provide important aerial support alongside data communication and collection. Similarly, the Internet of Things (IoT) and blockchain help companies monitor inventory levels, quality standards, and environmental conditions and verify the authenticity and origin of goods. Cloud and edge computing is used to check the security of robots and automation in 3PL by processing data faster with higher bandwidth and flexibility.


3PL Services Category Intelligence Highlights

*The global 3PL services market is highly fragmented due to the increasing number of small players trying to enter the space. Large corporations are strategically partnering with or acquiring other regional players to expand their knowledge of the local market and decrease overhead costs while maintaining better profit margins
*Buyers can easily switch between logistics providers without incurring any significant switching costs due to the presence of multiple integrated service providers. In-house logistics is the only substitute for 3PL services. However, in-house logistics involves a high level of complexity and hence poses a minimal threat to 3PL services
*Transportation and warehousing form the largest cost component, accounting for 70% of the total costs. The overall cost of transportation depends on many other cost components, such as rail, air, sea, or land modes
*From a sourcing perspective, the companies mostly prefer approved provider models to reduce the risks and increase the potential for value creation

List of Key Suppliers in the 3PL Services Category

List of Key Suppliers in the 3PL Services Category
United Parcel Service
DHL
Kuehne + Nagel
FedEx Corporation
Nippon Express
DB Schenker
C.H. Robinson
CEVA Logistics
Burris Logistics
XPO Logistics
J.B Hunt Transport Services

https://www.grandviewresearch.com/pipeline/3pl-market-procurement-intelligence-report

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