Delhi, India (PressExposure) May 13, 2009 -- The increasing preference for 3PL services will transform the way logistic operations have been carried out in India till now, says RNCOS in its new research report, â3rd Party Logistics Market in Indiaâ. At present, the 3PL market is at a nascent stage of development, with multinational companies in all industries being the predominant users of these services. However, the domestic major companies in leading industrial sectors have also begun to follow the footsteps of their multinational counterparts, starting with outsourcing their basic logistics functions. The total revenue generated by 3PL players surpassed US$ 1.5 Billion in 2008 from mere US$ 890 Million in 2005.
As per the findings of our research, the present market scenario of 3PL services in India canât be compared with that of developed markets like the US and Europe where the usage of 3PL services is more than 50% in most of the industries. But the Indian market offers immense growth opportunity as compared to developed markets due to improving infrastructure like highways, ports, bridges and increasing connectivity along with rising importance of logistic services.
We have identified the auto and IT hardware industry as the largest end-user industry for 3PL services. Other sectors that have shown substantial contribution to 3PL market and significant growth potential include FMCG, pharmaceutical and retail sectors. The market will generate revenue of close to US$ 4 Billion by 2012 and will result in more effective ways of implementing logistic operations in India.
While the share of 3PL services in India is far lesser than developed markets, when it comes to share of logistic cost as percentage of GDP, it is high in India and China ranging between 13% and 15% due to lack of infrastructure facilities and less focus on creating value through efficient handling of logistic services.
Our latest research report, â3rd Party Logistics Market in Indiaâ, gives comprehensive information about the current and past situation of 3PL services in India. The segment wise market potential of 3PL services is also provided in the report to help client to analyze the penetration level of new modern logistic services in various industries. The report also highlights the factors responsible for the increasing attractiveness of Indian 3PL market along with brief overview of the key players in the industry.
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