News / 3PLs look for return of growth as competition grows and revenues fall

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3PLs have been facing a bundle of headwinds that have dented revenue growth for the sector. Value-added warehousing, which topped the other segments in 2023, is now experiencing a slowdown, but industry executives have expressed optimism that this is but a temporary blip.

According to Armstrong & Associates’ Third-Party Logistics Results & Outlook, net revenues (gross revenues less purchased transport) of US 3PL operators dropped 12.8% in 2023, to $129bn, while gross revenues slumped 26.1%, to $299.5bn.

Observers have pointed to several ...