South Africa 3PL Market
South Africa Third-Party Logistics (3PL) Market Size Set to Grow at Steady CAGR of 8.25% During 2023–2029
Published | 12 May 2023
South Africa third-party logistics (3PL) market is flourishing due to the high growth in the automotive industry, technological progress, an increase in last-mile connectivity, and rapid growth in cross-border trade activities.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects South Africa third-party logistics (3PL) market size to grow at a steady CAGR of 8.25% during the forecast period between 2023 and 2029. Rapidly growing automotive industry, technological advancements, an increase in last-mile connectivity, and an increase in cross-border trade activities are major factors driving the expansion of South Africa third-party logistics (3PL) market. A third-party logistics (3PL) partner or service helps manufacturers, particularly e-commerce merchants, with logistics and distribution. Inventory management, cross-docking, door-to-door delivery, and product packaging are all service provided by a third-party logistics company. Therefore, enterprises can provide a better customer experience, ensure scalability, mitigate product damage risks, promote business growth and market expansion, and complete core business operations. However, lack of proper IT infrastructure in the logistics industry hamper the growth of the market.
South Africa Third-Party Logistics (3PL) Market – Overview
Third-party logistics helps producers make their products available and create stronger demand prospects within a specific period by managing demand fluctuations. When a company lacks infrastructural facilities and acts as a warehouse, the service providers also maintain better warehouse management and assist the manufacturers in maintaining inventory stocks.
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Impact of COVID-19 on South Africa Third-Party Logistics (3PL) Market
Manufacturing has taken a significant hit owing to the COVID-19 outbreak, both in terms of production and demand for products. Third-party logistics (3PL) demand fell in 2020 and 2021. Market growth was hampered by disruptions in the supply chain and value chain, brief periods of lockdown and shutdown, and restrictions on entering foreign borders.
South Africa Third-Party Logistics (3PL) Market – By End User
By end user, South Africa third-party logistics (3PL) market is segmented into Consumer Goods, Retail, Healthcare, Automotive, and others. During the forecast period, the automotive and retail industries are expected to grow at the fastest rates. Logistics, which is the backbone of the modern retail sector, enables the ability to fulfil orders quickly and efficiently. Because of e-commerce and dedicated logistics services, retail organizations can now expand their operations and product offerings in semi-urban areas, allowing medium-sized businesses to enter the 3PL market. The 3PL also allows retail companies to create new items, improve skills, and expand their regional presence.
Competitive Landscape
South Africa third-party logistics market is highly competitive. Major players in the market include Vivint Smart Home, Inc., ADT LLC, Simplisafe, Inc., Brinks Home Security, iSmart Alarm, Inc., Live Watch Security LLC, Skylinkhome, Protect America, Inc., SAMSUNG ELECTRONICS Co., LTD., Frontpoint Security Solutions, LLC. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the South Africa third-party logistics (3PL) market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of South Africa Third-Party Logistics (3PL) Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in South Africa Third-Party Logistics (3PL) Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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Related Report
Publish Date: May 2023
High growth in seaborne trade, increasing trading activities, and growth in the manufacturing industry are expected to boost the growth of South Africa Third-Party Logistics (3PL) Market during the forecast period between 2023 and 2029.
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