The global 3PL market in FMCG industry is expected to grow at a CAGR of 5.62% during the period 2017-2021.
One trend in the market is growing popularity of autonomous vehicles. Autonomous vehicles are increasingly getting popular with companies, such as Google's driverless car that rode 1.6-2.2 million miles in October 2016. It is estimated that companies are expecting the commercialization of autonomous cars by 2019-2022. The popularity of the autonomous vehicles has gained ground into the logistics sector. For example, self-driving vehicles have made inroads in logistics, reaching a level of maturity for commercial use in warehouse operations. In August 2016, it was observed that the introduction of vision-guided autonomous forklifts increased Giant Eagle's warehouse productivity by more than 10%.
According to the report, one driver in the market is increased adoption of technology by 3PL. The 3PL industry is transforming on many aspects such as the adoption of new technologies, which is changing the entire logistics chains. Customers of 3PL are not just looking for a traditional solution of transporting or distributing the goods but rather for supply chain related information using new technologies to optimize the supply chain. Hence, FIVICG companies or any other companies looking to employ a 3PL is also looking for logistics technology and analytics that can help them to anticipate and adapt to the changing supply chain dynamics.