3PL Software Market Estimated at US$2.3 Billion by 2032 | IMF report

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The Global 3PL software market is expected to reach US$1.20 billion in 2021, US$1.24 billion in 2022 and US$2.3 billion in 2032, according to a report just released by Future Market Insights. Between 2022 and 2032, the market is expected to grow at a CAGR of 6.4%. The ability to automate warehouses, collect data electronically, and digitize the entire supply chain has enabled companies to develop software that is individualized, flexible, and focused on consumer needs.

Therefore, 3PL companies use advanced technologies such as blockchain, mobile, and 3PL software to gain a competitive advantage in a fiercely competitive field. The industry CAGR from 2015 to 2021 was 7.1%.

Key points to remember:

  • The global 3PL software industry will grow 1.8 times over the next ten years to US$2.3 billion. From 2022 to 2032, 3PL software will create an absolute value of US$1.1 billion.
  • Making maximum use of 3P software, the technology sector is growing at a CAGR of 6.3%.
  • Roads will grow by mode of transportation at a CAGR of 6.5% throughout the projection period.
  • The market in the United States is expected to reach US$839.5 million while growing at a CAGR of 6.2% over the projected year.
  • With a CAGR of 6.1%, the Chinese market is expected to reach US$174.6 million.

Competitive environment

Manufacturers can improve their production and meet consumer demand through strategic alliances, thereby improving their revenue and market share. End users will be able to take advantage of new technologies through the launch of new products and technologies. One of the potential benefits of a strategic partnership is the expansion of the company’s production capabilities.

  • Enveyo said in May 2022 that Saddle Creek Logistics Services had improved and automated the management of package scanning and customer billing through Enveyo’s Insights package scanning platform. Saddle Creek eliminated the laborious, manual process of shipping reporting and invoicing as part of the rollout of Enveyo’s package analytics system, Insights.
  • Zethcon Corporation reported in May 2022 that RBW Logistics, an Augusta, Georgia-based third-party logistics (3PL) provider, had successfully adopted the company’s flagship Synapse WMS solution. Zircon brought its expertise in Warehouse Management System (WMS) and Third Party Logistics (3PL) so that RBW can effectively meet the needs of its current customers and provide the additional capabilities needed to support new growth prospects. .

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