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Fulfillment Services Market Growing at a CAGR of 4-5 Percent, Says Beroe Inc

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News provided by

Beroe Inc.

Oct 17, 2019, 09:30 ET

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RALEIGH, North Carolina, Oct. 17, 2019 /PRNewswire/ -- The global fulfillment services market is growing at a steady pace and is expected to reach a value of $55.6 billion by 2021 according to Beroe Inc., a procurement intelligence firm. Retail and e-commerce expansion in emerging markets along with growth in online buying is expected to strongly drive the fulfillment services market.   

Regions such as Western Europe, North America, Australia, Japan, Hong Kong, and Singapore, have a high market maturity while APAC and parts of Latin America are expected to be the future growth driven markets. Currently, North America has the biggest market share with a value of $13.5–15.5 billion growing annually at 4–6 percent, while Australia has the fastest growing market with a market share of $1.5–1.9 billion growing annually at 8–10 percent. The Middle East and LATAM have low adoption due to the challenges in delivery because of low infrastructure and connectivity. 

https://www.beroeinc.com/category-intelligence/fulfilment-services-market/

Beroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched market intelligence platform Beroe LiVE: live.beroeinc.com

The numerous benefits of outsourcing fulfillment services to a dedicated supplier are driving the growth of the market. By outsourcing fulfillment services, buyers can focus on core business and avail of reduced shipping costs, best of technologies in the market, and allow buyers to standardize the level of services across various locations. However, the market faces challenges due to the risk of presenting an ineffective customer support system that may have a negative impact on the overall brand name. 

The logistics industry is on an upswing due to increase in competition and higher customer expectation, adding to advanced technology. Furthermore, micro-fulfillment, a new method known as Airbnb for Logistics, has eradicated the pains of commuting to warehouses situated on the outskirts of the city, enabling speedy last-mile delivery by turning personal garages into company storage spaces. For instance, Walmart and AmazonPrime's selling point of under two days' delivery for free is a result of adopting the micro-fulfillment methodology.

Key Findings:

  • Global suppliers are enhancing their service capabilities through M&A and expansions to achieve fulfillment contracts from large buyers. Logwin extended its network in South America by configuring its own branch in Bogota's Free Trade Zone.
  • Customized services help in increasing the integrity of services and bring a high level of expertise. Suppliers provide training through management development programs by partnering with training agencies.
  • Supply chain managers and IT service providers are exploring and implementing the use of data analytics for business intelligence to improve and leverage the overall supply chain.
  • The prominent sourcing model is of Strategic Partnerships which focus on long-term aspirations, enhanced functioning of the customer's supply chain and improvement of competitive positions with both the buyer and agency investing in this relationship and sharing the ROI.
  • Around 50–53 percent of first-generation fulfillment contracts are based on the cost-plus pricing model with 42–47percent of second-generation fulfillment contracts based on a fixed/transactional pricing model. 

The research methodology adopted for the report included:

  • Experts with twenty years of domain experience
  • Interaction with buyers
  • Inputs from supply chain partners

The major cost components in the fulfillment services market are labor, accounting for 40-45 percent of costs, warehousing for 30-35 percent, and freight for 10-15 percent. The labor cost is one of the drivers that impact the average package cost, as labor costs contribute substantially to the overall cost and may increase the average package cost if the 3PL service provider does not use technology optimally. Complex specifications may require additional resources, time and integration among phases, which might increase the cost to the supplier.

The report also includes:

Market Analysis:

  • Global Fulfillment Market Maturity
  • Global Fulfillment Industry Trends
  • Mergers and Acquisitions
  • Global Drivers and Constraints
  • Regional Market Outlook
  • Industry Outlook
  • Porter's Five Forces Analysis: Developed Markets
  • Porter's Five Forces Analysis: Emerging Markets

Supply Analysis:

  • Supply Market Outlook –Supply Trends and Insights
  • Key Global Suppliers
  • Key Regional Suppliers: Service Portfolio
  • Key Global Supplier Profile
  • Supplier SWOT Analysis

Procurement Best Practices:

  • Sourcing Models for Fulfillment Services
  • Sourcing Models –Comparative Analysis
  • Sourcing Models –Pros and Cons
  • Pricing Models –Comparative Analysis
  • Cost Structure –Fulfillment
  • Cost Drivers and Impact
  • Key Services based KPI and SLA Components
  • Case study

About Beroe Inc.:

Beroe is the world's leading provider of procurement intelligence and supplier compliance solutions. We provide critical market information and analysis that enables companies to make smart sourcing decisions—leading to lower costs, greater profits and reduced risk. Beroe has been providing these services for more than 13 years and currently works with more than 10,000 companies worldwide, including 400 of the Fortune 500 companies.

To learn more about Beroe Inc., please visit: http://www.beroeinc.com

Media Contact:
Debobrata Hembram
[email protected]

SOURCE Beroe Inc.

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