Market Research Reports - Ken Research Domestic 3PL Companies Vietnam

Vietnam 3PL Market is Expected to Reach around USD 55 Billion by the Year Ending 2022: Ken
Research
Vietnam 3PL market by Market (Freight Forwarding and Warehousing Services) and by
Companies (International Companies and Domestic Companies); Major Players Operating in
Vietnam 3PL Market (DHL Vietnam, Damco Vietnam, FedEx, Kerry Logistics, Gemadept, Vinafco,
Transimex Saigon and others.
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The growth in Vietnam’s E-commerce industry is likely to drive the country’ 3PL market.
With Vietnam’s accession to World Trade Organization (WTO), restriction on foreign
entities have been reduced.
Over the forecasted period 2018-2022, 3PL companies operating in Vietnam will be
emphasizing more towards technological upgradation in order to increase client interactions.
Growth in Vietnam’s E-commerce industry is further expected to drive the country’s 3PL market
due to an increase in demand for faster delivery of goods, efficient inventory management,
freight forwarding and individualized shipping time. Increasing globalization is encouraging
companies across several industry verticals such as E-commerce, food and beverage, durable
manufacturing, and general merchandising to expand their geographical presence, therefore
creating a positive impact on 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.
Vietnam’s accession to the WTO has given a surge to the country’s FDI levels as more and more
foreign entities were witnessed to setup their manufacturing facility within Vietnam. Increasing
investments have given a rise to the production and sales of domestic as well as international
products within Vietnam along with their transportation needs, thus providing companies with
an option to in-house the delivery process or outsource it to a 3PL provider. Logistics
outsourcing brings many benefits to the business such as it reduces capital, improves customer
service, faster delivery of goods, developing business relationships and improved access to
information.
Analysts at Ken Research in their latest publication “Vietnam Third Party Logistics (3PL) Market
Outlook to 2022 – By Freight Forwarding and Warehousing 3PL Services and By International
Companies and Domestic Companies” believe that companies focusing on untapped market,
developing innovative technological solutions and collaboration between trade related
companies and Logistics Service Providers (LSPs) will have a positive impact on the market.