Changing Dynamics in Logistics Industry
By Harpreet Singh Malhotra, MD, Tiger Logistics
India's third-party logistics market can be segmented into transportation 3PL market, and cold chain market, which has seen a healthy growth. This upsurge in the cold chain market was due to growth in the e-commerce industry, especially in the e-retail sector. Cold Chain is one of the highest growing markets, yet it constitutes a minor proportion to the growing logistics industry of India.
The 3PL logistics market is expected to be worth US$ 301.89 billion by 2020. 3PLs specialize in certain industries such as frozen food. Auditing freight bills and warehousing are now providing logistics related software, which is bringing about greater efficiencies.