The 5PL solutions market will register a CAGR of almost 4% by 2023
NEW YORK, June 12, 2019 /PRNewswire/ -- About this market
The growing global e-commerce market will contribute significantly to the 5PL solutions market growth during the forecast period. Economies including China and the US are key contributors to the global e-commerce market. Factors including the growing Internet penetration and smartphone penetration are accelerating the 5PL solutions market growth during the upcoming years. Our analysts have predicted that the 5PL solutions market will register a CAGR of almost 4% by 2023.
Read the full report: https://www.reportlinker.com/p05778665/?utm_source=PRN
Market Overview
Rising free trade agreements in Europe
The increase in free trades provides many opportunities for European manufacturers to enter other developed and developing economies. These free trades are expected to stimulate the volume shipment of various manufacturing industries such as electronics, which will further increase the requirements of 5PL solutions.
Stringent government regulations in marine transportation
Due to the presence of the regulatory bodies as well as stringent regulations in marine transportation, the operational cost of vendors is estimated to increase, which will hinder the market growth during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the 5PL solutions market during 2019-2023, view our report.
Competitive Landscape
The market appears to be highy fragmented and with the presence of several companies including CEVA Logistics AG and DB Schenker, the competitive environment is quite intense. Several logistics players including 5PL solution providers are focusing on green logistics to ensure compliance with stringent government regulations on freight and logistics activities for sustainability. Deutsche Post AG, Kuehne + Nagel Management AG, and United Parcel Service Inc. are some of the major companies covered in this report.
Read the full report: https://www.reportlinker.com/p05778665/?utm_source=PRN
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001
SOURCE Reportlinker
Share this article