MILWAUKEE, Nov. 11, 2019 /PRNewswire/ -- On October 15-17th, third-party logistics (3PL), technology, and investment leaders convened at Armstrong & Associates' 3PL Value Creation North America Summit in Chicago to discuss trends in the $951 billion global 3PL market.
Many of the 3PL panelists reported double-digit growth in 2018 followed by "good, but not great" growth in 2019. E-commerce has continued to stimulate opportunities, but uncertainty caused by trade wars and import tariffs have impacted activity, acquisitions, and decision making.
For those who missed this year's Summit, we've provided a portion of the trends, below. The full list of key takeaways can be found here: https://www.3plogistics.com/3pl-market-info-resources/3pl-value-creation-chicago-key-takeaways/3plna_keytakeaways/
Tariffs and International Transportation Management
The trade war with China has generated some shifts in international supply chains and conservative decision-making approaches by customers.
E-Commerce & Amazon
E-commerce has become a growth driver in all 3PL segments and working with or against Amazon remains a hot topic.
Financial
Tightening on the lending side and uncertainty in the market has slowed down M&A activity in 2019. Investments and acquisitions are still occurring for organizations that offer a strategic service, human capital, or technological synergy to the partnership.
Technology & Innovation
Technology and innovation vary tremendously by customer need. Value can be added through systems already in use or by seeking out a new solution.
Value-Added Warehousing and Distribution
A record 2018 has been followed with a "good" 2019 with fewer projects in the pipeline and pent up activity. Value-added services offer a way to differentiate.
Domestic Transportation Management and Digitalization
While growth has softened compared to 2018, many feel that 2019 will finish well. Industry changes, trade wars, the looming election, and rising competition have led to a feeling of general uncertainty going into 2020 and beyond.
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ABOUT ARMSTRONG & ASSOCIATES, INC.
Armstrong & Associates, Inc. (A&A) was established in 1980 to meet the needs of a newly deregulated domestic transportation market. Since then, through its leading Third-Party Logistics (3PL) market research and history of helping companies outsource logistics functions, A&A has become an internationally recognized key resource for 3PL market information and consulting.
A&A's mission is to have leading proprietary supply chain knowledge and market research not available anywhere else. As proof of our continued work in supporting our mission, A&A's 3PL market research is frequently cited in media articles, publications, and securities filings by publicly traded 3PLs. In addition, A&A's email newsletter currently has over 85,000 subscribers globally.
A&A's market research complements its consulting activities by providing continually updated data for analysis. Based upon its unsurpassed knowledge of the 3PL market and the operations of leading 3PLs, A&A has provided strategic planning consulting services to over 30 3PLs, supported 21 closed investment transactions, and provided advice to numerous companies looking to benchmark existing 3PL operations or outsource logistics functions.
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