Technavio
analysts forecast the third-party logistics market in India to grow at a
CAGR of over 8% during the forecast period, according to their latest
market research report.
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Technavio has published a new market research report on the third-party logistics market in India from 2018-2022. (Graphic: Business Wire)
The emergence of digitalization in 3PL is one of the major trends being
witnessed in the third-party
logistics market in India 2018-2022. Most of the 3PL providers
have started investing in smart information technology (IT) and software
systems, which can give a better return on investment. Specialized
software assists in reducing the costs, save time, and increase
efficiency.
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According to Technavio analysts, one of the key factors contributing to
the growth of the third-party logistics market in India is the
introduction of tax reforms and initiatives for 3PL in India:
Third-party logistics market in India:
Introduction of tax reforms and initiatives for 3PL in India
The 3PL sector in India has been experiencing a transformative phase
with the introduction of several reforms and initiatives. The GST is one
of the major tax reforms, which was introduced by the Government of
India. Before the implementation of GST, companies built and managed
several warehouses in every state of business operation to avoid
cross-border tax.
According to a senior analyst at Technavio for research on logistics,
“The implementation of GST has assisted in reducing the price
differences between states and make tax liabilities uniform across
India. The new tax regime helps in decreasing the logistics costs and
increases the operating efficiencies by reducing cross-border checks.”
Third-party logistics market in India:
Segmentation analysis
The third-party logistics market in India research report provides
market segmentation by end-user that includes manufacturing, food and
beverages, consumer goods, and automotive. It provides an in-depth
analysis of the prominent factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.
Of the four major end-users, the manufacturing segment held the largest
market share in 2017, contributing to over 24% of the market. This
end-user segment will dominate the global market throughout the forecast
period.
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Some of the key topics covered in the report include:
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation
Geographical Segmentation
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
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View source version on businesswire.com: https://www.businesswire.com/news/home/20180801005739/en/