AVAILABLE NOW: THIRD QUARTER 2021 3PL MARKET REPORT
The most recent 3PL Market Report reflects that we are now in the sixth quarter of the most substantial surge in goods consumption in recent history. By now, the boom has reached a plateau with reductions in Q321. Is this the inevitable fallback from this unsustainable boom or just a pause?
The result is a record capacity crisis that has imposed significant challenges on the brokerage industry. Such volatility in market conditions is especially important for brokers because the spot market they serve is the place where market stresses naturally congregate, reports TIA Chief Economist Noël Perry.
The report shows that for Q321, the invoice amount per shipment, total shipments and total revenue improved by 3.3%, 6.8%, and 10% compared to Q221.
"Broker growth continued despite a weakening in overall TL growth. This reflects the continued presence of difficult-to-fill out-of-route demand, something brokers excel in.” said Perry.
3PL Market Report subscribers can now compare the TIA data with the market to ascertain whether brokerage players are gaining or losing vis-a-vis the market. In the Q321 report, subscribers will find that TIA Members are performing well above industry averages.
"We continue to enhance the report with information to help benchmark and understand trends that impact our industry. We thank Noël Perry for his contribution as we have added additional metrics that provide a broader perspective."
Vice President of Transportation - Matson Logistics
Chair - TIA 3PL Market Report Committee