Global IT Spending by 3PL Market 2015-2019
About Global IT Spending by 3PL
The 3PL market is growing, especially in emerging countries, as it involves cheap labor, improved infrastructure, and loosening of barriers to trade. In Asia, China remains one of the largest markets for 3PL. However, it is gradually moving toward maturity. The logistics comprises various risks and obstacles, which include cumbersome clearance processes, lack of transport infrastructure, and inefficiencies in logistic processes.
3PL markets are still recovering from the 2008 recession and Eurozone crisis, which is leading to sluggish demand for logistic services in Europe. With the GDP in countries with mature markets hovering around only 1-3%, supply outstrips demand and businesses have become cautious about investing in technology.
The global IT spending by 3PL market is expected to grow at a CAGR of 12.5% during the forecast period.
Covered in this Report
The global IT spending market by 3PL can be segmented into six: SCM and procurement, warehouse management, transportation management, field service management, freight management, and others. This report covers information about the market share of the global IT spending market by 3PL by application.
Technavio's report, Global IT Spending Market by 3PL 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the global IT spending market landscape by 3PL and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global IT Spending by 3PL Market 2015-2019
Technavio recognizes the following companies as the key players in the Global IT Spending by 3PL Market: Accenture, Capgemini, Genpact, IBM and TCS
Other Prominent Vendors in the market are: 3PLCentral, AegisBridge Solution Group, Camelot 3PL Software, ClickSoftware, FieldOne Systems, Geneva Systems, IFS, Infosys, iTracker, JDA, Manhattan Associates, Servicemax and System Logic
Commenting on the report, an analyst from Technavio’s team said: “The supply chain is an essential aspect of operations within a logistics company, from forecasting customer demand to sourcing raw materials to manufacturers and distributors. Therefore, the supply chain industry is going through numerous changes. 3PL providers have equipped their transport machines such as heavy loaded trucks and heavy machinery with data capture technologies through M2M connectivity. Some companies are collecting these raw data on a daily basis and run with data analytics tools to get quantifiable business results such as information on route mapping, road conditions, and many others. Many venture capitalists are investing in supply chain analytics software development.”
According to the report, 3PL companies are a little hesitant to invest in building a secure IT infrastructure as it needs several audits such as SAS 70 type II and SSAE 16 type II to get certified and requires a lot of investment to implement it. These audits take time to complete and eventually focus a lot of attention on minute details from the auditor side as well as the 3PL side. However, the increase in cyber-attacks and the increased risk of IT disruption force 3PL providers to have backup connections to power grid Internet and telecom systems.
Further, the report states that delays in enhancing legacy systems is affecting the market growth.
Accenture, Capgemini, Genpact, IBM, TCS, 3PLCentral, AegisBridge Solution Group, Camelot 3PL Software, ClickSoftware, FieldOne Systems, Geneva Systems, IFS, Infosys, iTracker, JDA, Manhattan Associates, Servicemax, System Logic