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Vietnam Third Party Logistics (3PL) Market Research Report to 2022: Ken Research

Marketing

(Free Press Release) The report focuses on overall market size for third party logistics in Vietnam, market segmentation by market (freight forwarding and warehousing) and by companies (international companies and domestic companies)...

Vietnam Third Party Logistics (3PL) Market Research Report to 2022: Ken Research


      

How Vietnam 3PL Market is Positioned?

In Vietnam, 3PL started with small enterprises in the early 70’s, who tried to outsource parts of their business operations to outside service providers. These service providers eventually expanded their geographical coverage, facilities and commodities; as well as updated their warehousing and transportation. Compared to other parts of the world, logistics industry in Vietnam is still in its developing phase, as supply chain processes for instance procurement, transportation, warehousing and delivery are not executed in an integrated manner.

In terms of revenues, Vietnam 3PL Market was evaluated at USD ~ billion in the year 2011, which witnessed an increase to USD ~ billion in the year 2017, thus growing at a six year CAGR of ~% in the review period 2011-2017. Logistics outsourcing aids businesses by reducing capital and overall costs; improving customer service and lastly helps in developing business relationships with clients. 3PL providers can offer a variety of services to companies seeking to outsource logistics functions in Vietnam majorly including domestic transportation, international transportation and warehousing. Most of the foreign firms operating in Vietnam such as Maersk Logistics, APL Logistics, NYK Logistics and MOL Logistics were observed to offer 3PL or 4PL services whereas, Vietnamese domestic firms could only handle 2PL services. In Vietnam, large scale companies such as DHL, Kuehne + Nagel or DB Schenker were witnessed to be the leading suppliers of 3PL services.

Vietnam 3PL Market Segmentation

By Market

The freight forwarding segment within Vietnam 3PL market dominated with a massive revenue share of ~% in the year 2017. The growth of E-commerce industry in Vietnam is one of the major driving forces for the 3PL freight forwarding owing to increase in demand for fast delivery, efficient inventory management and individualized shipping time. In Vietnam, 3PL market vendors are focusing on providing international freight management and customs brokerage with their extensive knowledge of import-export processes and international regulations, thereby leading to increase in demand for 3PL freight. On the other hand, the warehousing segment within Vietnam 3PL market was witnessed to capture the remaining revenue share of ~% in the year 2017. 3PL warehousing companies in Vietnam handles all aspects of shipping a particular product from anywhere in the world to their facilities and then straight into customers hands.

By Companies

International companies operating in Vietnam 3PL market has clearly established themselves as market leader by capturing a whopping revenue share worth ~% in the year 2017. Major international players operating in third party logistics segment include VN Post, Viettel Post, GHN, GHTK, DHL Logistics, Damco, FedEx, APL, Gemadept, Vinafco and Transimex Saigon. On the other hand, domestic 3PL players captured the remaining revenue share of ~% in Vietnam 3PL market in the year 2017.

Competitive Landscape in Vietnam 3PL Market

Third-party logistics outsourcing is rapidly gaining importance in the country as more and more corporations across the world are unable to manage their complex supply chains and hence are outsourcing logistics activities to the 3PL service providers. Competition within the logistics industry is ramping up due to tightened capacity along with increased consolidation within the supply chain arena, which has resulted in fewer partners for 3PLs and increased prices. The companies operating in Vietnam 3PL market are competing with each other by offering multiple value added services to the customers. The leading companies in the segment are DHL, Damco, Vinafco, Transimex Saigon and others.

Vietnam 3PL Market Future Outlook and Projections

Over the forecasted period, Vietnam 3PL market is expected to generate revenues worth USD ~ billion by the year ending 2018 owing to a rising trend for both local and multinational enterprises to outsource logistics functions to 3PL services providers. It has been expected that industrial activities in the country will expand, which will result into growing opportunities for the foreign players. This will positively impact the 3PL market as these companies will require third party logistics partners for handling their supply chain management. Vietnam 3PL market is estimated to generate revenues worth USD ~ billion by the year ending 2022, thus growing at a CAGR of ~% in the forecast period 2018-2022. Additionally, in the coming years, 3PL companies will be emphasizing more on the technological upgradation to engage with the customers such as ERP and SCM and the trend of Fourth-party logistics (4PL) will be emerging in future to support the 3PL business in the country.

For more information on the research report, refer to below link:

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/vietnam-3pl-market/145653-100.html

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Vietnam Third Party Logistics (3PL) Market Research Report to 2022: Ken Research

Source: Press Release

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