Technology
Third-party Logistics Market size is set to grow by USD 532.65 billion from 2023-2027, Growth of E-commerce and the need for integrated shipping services to boost the market growth, Technavio
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2 months agoon
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NEW YORK, July 15, 2024 /PRNewswire/ — The global third-party logistics market size is estimated to grow by USD 532.65 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of almost 7.87% during the forecast period. Growth of e-commerce and the need for integrated shipping services is driving market growth, with a trend towards emergence of big data analytics. However, high operational cost and competitive pricing poses a challenge. Key market players include AP Moller Maersk AS, Baltic Logistics Group, BDP International Inc., Burris Logistics Co., C H Robinson Worldwide Inc., CMA CGM SA, DB Schenker, Deutsche Bahn AG, Deutsche Post AG, DSV AS, FedEx Corp., GEODIS SA, Hub Group Inc., J.B. Hunt Transport Services Inc., Kintetsu Group Holdings Co. Ltd., Kuehne Nagel Management AG, Nippon Express Holdings Inc., Sinotrans Ltd., United Parcel Service Inc., and XPO Logistics Inc..
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Forecast period
2023-2027
Base Year
2022
Historic Data
2017 – 2021
Segment Covered
Application (Transportation services, Warehousing and distribution services, and Other services), End-user (Manufacturing, Retail, Consumer goods, Healthcare, and Others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)
Region Covered
APAC, North America, Europe, South America, and Middle East and Africa
Key companies profiled
AP Moller Maersk AS, Baltic Logistics Group, BDP International Inc., Burris Logistics Co., C H Robinson Worldwide Inc., CMA CGM SA, DB Schenker, Deutsche Bahn AG, Deutsche Post AG, DSV AS, FedEx Corp., GEODIS SA, Hub Group Inc., J.B. Hunt Transport Services Inc., Kintetsu Group Holdings Co. Ltd., Kuehne Nagel Management AG, Nippon Express Holdings Inc., Sinotrans Ltd., United Parcel Service Inc., and XPO Logistics Inc.
Key Market Trends Fueling Growth
Logistics companies and shippers are utilizing big data analytics to extract valuable insights from extensive data sets, providing a competitive edge in the third-party logistics market. Big data analytics solutions enable companies to optimize operations, enhance customer experience, and explore new business models. In operational efficiency, real-time processing and predictive techniques improve capacity forecasting and resource control. Customer experience benefits from analyzing consumer sentiment and product quality data. Collaboration with supply chain partners using shared data leads to new services, demand pattern discovery, and enhanced forecasting accuracy. Real-time analytics and end-to-end supply chain visibility enable quick action against potential revenue losses. Big data analytics empowers logistics companies to optimize resources, increase asset uptime, and conduct near-real-time supply planning using IoT data feeds.
The 3PL market in the logistics sector is experiencing significant growth due to increasing cross-border trade activities. Mergers and acquisitions are common as companies look to expand their reach and reduce costs. Poor infrastructure in some regions drives up logistics costs, leading to the adoption of IT solutions and software. Rising demand for consumer electronics, retailing, healthcare, and food and beverage products fuels growth. Railways, roadways, waterways, airways, and domestic/international transportation management are key areas of focus. Warehousing and distribution are essential elements in the 3PL market, with technological advancements streamlining operations. New trends include omni-channel operations, e-commerce sector growth, and the global shift towards new technologies. Shippers in industries like consumer goods, medical equipment, food, dairy, nutrition, beverage, and confectionery benefit from 3PL services. Despite challenges, the future looks bright for the 3PL market as it continues to adapt and innovate.
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Market Challenges
In the logistics industry, competition is intensifying due to the growing demand for value-added services and specialized solutions. Customers are pushing for lower prices when renewing contracts, while also requesting additional services. This puts significant pressure on third-party logistics (3PL) providers to reduce their costs. The industry’s capital-intensive nature, requiring large fleets, skilled labor, and advanced technology, increases operational expenses. Controlling these costs is crucial for 3PLs to remain competitive and maintain profitability amidst volatile fuel prices and customer demands.Third-party logistics (3PL) plays a crucial role in the global supply chain, particularly for industries like toy retailing and e-commerce services. Sustainability is a significant challenge, requiring 3PLs to adopt advanced technology and high-tech services for efficient warehouse management and reduced carbon footprint. Adaptability and responsiveness are essential in today’s dynamic business environment, with 3PLs providing multi-user logistics facilities for inbound and outbound logistics, after-sales, and return logistics. Emerging economies and growing populations present new opportunities, but also complexities. Digital transformation and technology adoption are vital for 3PLs to meet the demands of the food & groceries industry and the e-commerce market. Benchmarking, international deliveries, and delivery partners are key considerations for businesses seeking cost-effective and efficient logistics solutions. Challenges include freight-management, shipping services, and last-mile connectivity. Collaborating with ship-owners, cargo agents, and freight forwarders can help mitigate delays and improve delivery time. In-house teams and logistics software are essential for effective freight management, while after-sales and return logistics require a customer-centric approach. Ultimately, the success of a 3PL business model depends on money and effort invested in logistics, freight-management, and digital transformation.
For more insights on driver and challenges – Download a Sample Report
Segment Overview
This third-party logistics market report extensively covers market segmentation by
Application 1.1 Transportation services1.2 Warehousing and distribution services1.3 Other servicesEnd-user 2.1 Manufacturing2.2 Retail2.3 Consumer goods2.4 Healthcare2.5 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa
1.1 Transportation services- The transportation services segment in the global Third-Party Logistics (3PL) market provides various modes of shipping goods, including road, rail, air, and sea. Companies often outsource cargo and freight transportation due to the significant investment and expertise required. Contract 3PL providers offer efficient and timely transportation, providing a competitive edge. Services include freight forwarding, project logistics, network planning, cargo insurance, optimization, and customs brokerage. Technological innovations, such as IT systems, data analytics, fleet management, location detection, and autonomous vehicles, enhance flexibility and profitability. Intra-regional trade growth and manufacturing relocation increase demand for freight services, driving market potential. Vendors expand fleets and invest to strengthen capabilities and increase market shares, fueling the transportation services segment’s growth in the 3PL market.
For more information on market segmentation with geographical analysis including forecast (2023-2027) and historic data (2017 – 2021) – Download a Sample Report
Learn and explore more about Technavio’s in-depth research reports
The global Spare Parts Logistics Market is driven by the increasing need for efficient supply chain management and the growth of the automotive and aerospace industries. The global Chemical Logistics Market is expanding due to rising demand for chemical products and the need for specialized handling and transportation solutions. The global Connected Logistics Market is growing rapidly, fueled by advancements in IoT and AI technologies, which enhance real-time tracking, inventory management, and overall supply chain efficiency, meeting the increasing demand for seamless logistics operations across industries.
Research Analysis
The Third-party Logistics (3PL) market is witnessing significant growth due to the increasing demand for efficient and cost-effective logistics solutions. With the global shift towards e-commerce and omni-channel operations, shippers in various industries such as consumer goods, food and beverage, medical equipment, and toy retailers are turning to 3PL providers for their logistics infrastructure needs. New technologies like digital transformation, benchmarking, and adaptability are driving operational excellence and responsiveness in the market. 3PLs offer shipping services, e-commerce services, and warehousing solutions, making them indispensable partners for businesses looking to streamline their supply chain activities. International deliveries and prompt response to consumer demands are key factors driving the market’s growth. Prominent vendors are investing in new technologies and business models to stay competitive and meet the evolving needs of their clients. Funds are also pouring in to support the digital transformation of the 3PL industry.
Market Research Overview
The Third-Party Logistics (3PL) market is a dynamic and evolving sector that plays a crucial role in the global supply chain. It caters to various industries, including food and beverage, consumer goods, medical equipment, and more. The market is experiencing a significant global shift due to the rise of omni-channel operations and the e-commerce sector. New technologies, such as advanced logistics software and freight-management systems, are transforming operations, making them more adaptable and responsive. Shippers benefit from 3PL services by outsourcing their logistics activities, including inbound and outbound logistics, after-sales, and return logistics. The food and groceries industry, in particular, is seeing a surge in demand for 3PL services due to the e-commerce market’s growth. Emerging economies and populations with increasing purchasing power are driving the demand for 3PL services. Digital transformation and technology adoption are also key trends in the market, with high-tech services becoming increasingly important. The 3PL market encompasses various players, from logistics infrastructure providers to shipping services, freight-forwarders, and cargo agents. Cost reduction, mergers, and acquisitions are prominent in the 3PL market, with trading activities and poor infrastructure leading to higher logistics costs. IT solutions and software are essential for improving efficiency and reducing delays in international deliveries. Last-mile connectivity and cross-border trade activities are also critical areas of focus for 3PL providers. In conclusion, the 3PL market is a vital component of the logistics sector, providing essential services to various industries and sectors, including food and beverage, consumer goods, medical equipment, and e-commerce. The market is undergoing significant changes due to technological advancements, digital transformation, and the rise of e-commerce. 3PL providers must adapt to these changes to remain competitive and meet the evolving needs of their customers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
ApplicationTransportation ServicesWarehousing And Distribution ServicesOther ServicesEnd-userManufacturingRetailConsumer GoodsHealthcareOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
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Horizon Media Study Finds That Social Shopping is Quickly Replacing Ecommerce
Published
56 mins agoon
September 24, 2024By
Millennials and Gen X Growing Group Who Scroll to Shop; Live and Virtual Shopping Driving More Brand Purchases
NEW YORK, Sept. 24, 2024 /PRNewswire/ — As Gen Z and Millennials increasingly research and purchase products through social media as well through live and virtual shopping, gaming, and automated reality platforms, social shopping is set to outpace e-commerce, putting pressure on brands that face a collapsing consumer purchasing journey. How consumers are behaving and the implications for brands, social media platforms, and retail media outlets are the subject of The Rise of Social Shopping, released by Horizon Media today.
The findings from the WHY Group, Horizon Media’s intelligence center of excellence, and Night Market, Horizon’s commerce affiliate, demonstrate that social shopping is quickly replacing ecommerce. The results show that one in four people today are scrolling to shop. Among social shoppers, 80% say they make a purchase twice a month and 73% expect to purchase at least once a month in the upcoming year, with Millennials most likely to be frequent shoppers. Those not currently shopping on social are open and ready: 75% of Gen Z, 76% of Millennials and 61% of Gen X feel comfortable purchasing on social media. Marketers need to tap into these platforms to connect with customers where they are to drive additional revenue.
Beyond the Gen Z adopters, Millennials and Gen X are also quickly shifting online buying habits to social platforms including TikTok, Pinterest, Snapchat, Facebook, and Instagram. In addition to live shopping, gaming platforms such as Twitch and Roblox now connect brands to buyers.
More than half of products purchased through these platforms are brand name and purchases span categories – more than 40% include Apparel, Beauty, Electronics, and Personal Care. Impulse buys are big, including trending and seasonal products.
The market opportunity is large: Social commerce revenue is projected to reach $6.2 trillion globally by 2030 (Statista). Instagram, Facebook, YouTube and Tik Tok have already integrated shopping into their user experience and more brands are jumping in to generate revenue. More than 72% of social shoppers say they could replace at least some of their online shopping with social shopping.
However, the biggest hurdle to more widespread acceptance is scammers and the trustworthiness of online shopping. Brand verification is key and a large opportunity to generate sales. Marketers need to invest and promote safety in their brands. Once this happens, they will capture more market share.
“We are witnessing one of the most radical shifts in behavior we’ve seen since the adoption of ecommerce,” said George Musli, Chief Business Officer, Night Market. “Social shopping promises a dynamic, personalized experience that can shorten the marketing funnel and blur the boundaries between online and offline retail. Marketers need to capitalize on the platforms poised for growth. Today gaming experiences are already making an impact, especially among Millennials. Brands that jump in will be in a prime position to grow when uptake expands.”
The Rise of Social Shopping report includes the following key findings:
Social Shopping in Tik Tok, and Beyond
Despite reports that the introduction of Tik Tok Shop would spell the app’s demise, people disagree
Just 12% of social shoppers agree that social shopping on places like Tik Tok is making social media less fun, a figure matched by 13% of non-social shoppers
Beyond Tik Tok, there is significant opportunity across Meta properties and YouTube, especially with older cohorts
Facebook is not only one of the most used platforms but also the most trusted for social and non-social shoppers alike
Marketers can take advantage of introducing new products and promotions by targeting the more than 4 in 10 non-social shoppers that already see social media as a place to gather inspiration or research
Live streaming and virtual shopping are new commerce channels
Live shopping and virtual shopping are gaining traction, adding new dimensions to the experience
This shift in shopping behavior goes beyond Gen Z, with Millennials and even Gen X embracing new ways to purchase through social media, gaming experiences, AR, and VR
Among social shoppers 58% of Millennials have purchase form a livestream and would again, 56% of Gen X are open to trying. This extends to virtual shopping with 48% of Millennials planning to do this again, and 40% of Gen X open. These new avenues can bring incremental sales for marketers promoting their brands in new ways
Social Shopping Excels with Relational Buyers
Shoppers see social commerce as a way to support small businesses, foster community, and promote social good, while social shoppers further associate it with endorsements and personalized recommendations
Social shopping excels in creating connections in a way that traditional online shopping does not
Users are looking for inspiration (55% of the population, 60% of Gen Z). Marketers can help them discover a brand or product they didn’t even know they needed
Timing is Key for Purchases
Impulse buys are big including trending and seasonal products
Brands can encourage immediate buying with reminders to purchase and exclusive offers
Influencer partnerships, trending hashtags and seasonal products can also be instrumental in generating hype for products and services
Marketers can evaluate the content users are browsing and what products they are considering to purchase, and serve an ad that leads to a verified brand page (and contains some other enticements like free shipping) to drive sales
“Social shopping is now officially a part of the online ecosystem, tapping into community in a way that online does not,” Pam Wake, VP, Why Group. “Social offers a rich environment for brands to foster connections, build loyalty and consequently create unique shopping experiences that blur the boundaries between commerce and community. Marketers can tap into existing fandoms, subcultures and niche communities that are drawn together by shared values, norms, behaviors and identity makers.”
For more findings, as well as recommendations for how brands can translate these insights into action and engagement, access the full report at The Rise of Social Shopping.
Methodology:
We surveyed 1,008 adults 18-59 who use social media and shop online, including n=499 that are current social shoppers (purchasing via social commerce avenues including social media, gaming or AR/VR) and n=509 who are not.
The sample was balanced to the US general population by age, gender, region and income. Surveys were fielded between 4/30/2024 and 5/7/2024.
About Night Market
Night Market, which is part of Horizon, is a multi-service retail and commerce agency that helps clients maximize business performance, growth, and outcomes. We offer a comprehensive range of retail and commerce solutions designed to help ignite and accelerate growth across marketplaces, retail, DTC, and omnichannel. From media to creative, customer experience (CX), and digital transformation (DX), we combine the right mix of human and technical capabilities to design and deliver experiences across owned, leased, contextual, and experiential platforms that influence consumer perceptions and behavior and drive transactions. Founded in 2020 with a focus on being a business partner and a business driver as much, if not more, than an agency.
About Horizon Media
Horizon Media, the largest U.S. media agency delivers data-driven business outcomes for some of the most innovative and ambitious brands. Founded in 1989, headquartered in New York, and with offices in Los Angeles and Toronto, the company employs 2,400 people and has media investments of more than $8.5 billion. Horizon Media’s fundamental belief is that business is personal, which drives its approach to connecting brands with their customers and engaging with its own employees resulting in industry-leading workplace satisfaction levels (Glassdoor). The company is consistently recognized by independent media outlets for its client excellence and has earned several “Best Workplaces” awards reflecting its commitment to DEI and the life and well-being of everyone at Horizon Media.
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Bella Protocol Unveils Revolutionary AI-Powered Trading Tools in Major Brand Upgrade
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SINGAPORE, Sept. 24, 2024 /PRNewswire/ — Bella Protocol, a suite of DeFi products focused on unlocking liquidity potential and maximizing crypto yields, has officially unveiled its highly anticipated AI-powered trading tools. This launch marks a pivotal moment in the platform’s evolution, representing not only a significant brand upgrade but also a major step forward in democratizing advanced crypto trading strategies. With these AI-driven innovations, Bella reaffirms its commitment to making crypto trading and yield farming smarter, more efficient, and accessible to users of all experience levels—from beginners to seasoned traders.
Bella Protocol’s new AI-powered tools are designed to tackle some of the most pressing challenges in the DeFi space, including the complexity of trading strategies, the need for constant market monitoring, and the inaccessibility of advanced yield optimization techniques for everyday users. With these innovations, Bella makes it easier for users to navigate the DeFi landscape and unlock the full potential of their crypto assets.
At the core of this launch are the Bella Signal Bot and Bella Research Bot (the latter to be released by early October), two groundbreaking products that harness the power of artificial intelligence to deliver real-time trading signals and in-depth market analysis. The Bella Signal Bot provides users with actionable long and short signals across 12 perpetual token pairs, including popular pairs like BTC/USDT, ETH/USDT, SOL/USDT, XRP/USDT, and BNB/USDT. The selection of token pairs will continue to expand, giving traders more opportunities to make informed decisions quickly and effectively. Tailored to suit different trading strategies, the bot runs on five distinct AI models, ensuring that both novice and professional traders can benefit from its insights.
Meanwhile, the soon-to-be-released Bella Research Bot is poised to revolutionize how users access and analyze market data. Powered by a large language model (LLM), the bot offers comprehensive insights into crypto projects, trading trends, and market sentiment, all delivered directly through Telegram. This tool simplifies portfolio management by delivering real-time fundamental data, making it easier for users to stay ahead of the market without the need for intensive research.
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For more information about Bella Protocol, please visit https://bella.fi/, follow Bella Protocol on Twitter, or join the community.
About Bella Protocol
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Media Contact
Ryan Walker
R.J. Walker & Co.
ryan@rjwalkerco.com
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EQT Active Core Infrastructure fund holds final close
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56 mins agoon
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Total fee-generating commitments for the Fund amount to USD 3.2 billion (EUR 2.9 billion), including fee-generating co-investments of USD 0.3 billion (EUR 0.3 billion)EQT Active Core Infrastructure is a longer-hold strategy with a focus on downside protection, and applies EQT’s active ownership approach and value creation playbook to core infrastructure companies in Europe and North America.The Fund has already made three highly thematic investments that align with the strategy’s investment criteria and core focus.
STOCKHOLM, Sept. 24, 2024 /PRNewswire/ — EQT is pleased to announce that the EQT Active Core Infrastructure fund (or the “Fund”) has held its final close. Total fee-generating commitments for the Fund amount to USD 3.2 billion (EUR 2.9 billion), including fee-generating co-investments of USD 0.3 billion (EUR 0.3 billion).
Applying the global platform’s active ownership approach, industry insights, and local market access, Active Core Infrastructure seeks to leverage EQT’s 15-year track record of building strong and resilient infrastructure businesses for the future. It invests in companies that provide essential services to society and aims to offer an attractive risk-return proposition based on stable cash yield generation, inflation protection, low volatility, and a long-term value creation opportunity.
The Fund is backed by a well-diversified global investor base consisting of blue-chip clients, including pension funds, insurance companies, sovereign wealth funds, family offices, and private wealth platforms.
Alex Greenbaum, Partner and Head of EQT Active Core Infrastructure, said: “We have an exciting deal pipeline of attractive, thematic investment opportunities ahead of us, and are pleased to have already partnered with three businesses that share our vision to deliver long-term, sustainable growth. We see significant potential in core infrastructure against the current macroeconomic outlook, with the possibility to acquire high quality assets while creating value using our proven active ownership approach, and I am excited to further scale the strategy in the years ahead.”
The Fund has capitalised on the higher interest rate environment of the last two years and has invested across three thematically sourced, high-quality, and downside-protected companies, which demonstrate strong value creation potential:
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Contact
EQT Press Office, press@eqtpartners.com
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