eCommerce Logistics Market refers to processes of storing and transporting products for business or marketplace. It is a set of operations that operate in tandem to form a supply chain, including storage, transportation, inventory management, packing, labeling, invoicing, shipping, payment collection, return, and exchange.
The eCommerce logistics market is growing in tandem with e-commerce sales in various regions, and various factors such as infrastructure improvements, improved awareness, tech-enabled logistics platforms, and appealing online shopping.
Global eCommerce Logistics Market
The Global eCommerce Logistics Market valued at approximately USD 350 Billion in 2022. However, It expects to grow to a USD 950 Billion opportunity by 2027, owing to an increase in digital payments, good transportation infrastructure, and government initiatives around the world.
Logistics Market Segment Key Trends
Online payments contributed the most in 2022, owing to increased technical integration and increased digital usage. This area expects to contribute to the majority share in the next years as technical improvements continue, particularly with the introduction of 5G and increasing internet penetration.
The majority of customers are happy with their purchases and accept them, however, some customers return their orders for a variety of reasons, including poor quality, incorrect size, or having changed their minds. Returned orders cost the firm money since the costs of packaging and shipping go to waste and are not recouped.
A lively and rapidly increasing E-commerce environment, aggressive investment in infrastructure modernization, and an influx of capital are the primary drivers driving development in the Global eCommerce Logistics industry.
Among the notable companies are FedEx Corporation, DHL International GmbH, Aramex International, Gati Limited, Kenco Group, Inc., Clipper Logistics Plc., Agility Public Warehousing Company, K.S.C.P., XPO Logistics Plc., United Parcel Service, and CEVA Logistics.
Companies operating in the eCommerce logistical Market compete on delivery speed, logistical costs, strike rate, network coverage, and technical improvements.
Prospects for the Future
The global eCommerce Logistics Market expects to reach $1 Trillion by 2027, owing to the increasing logistics startups, rising demand for last-mile delivery services, trucking services via online marketplaces, rising demand for door-to-door parcel pickup and delivery services, and the increasing use of EVs for transportation.
Higher digitalization and the use of Artificial Intelligence and Machine Learning are making it simpler to examine the many possibilities of the E-Commerce Logistics Market, as well as other fields such as Drop Shipping, Quick commerce, sustainable packaging material, and so on.
Also Read: E-Commerce Business Plan – Why and How?
Global economic downturns have a favorable influence on the e-commerce and e-commerce logistics industries, as well as the businesses of other companies.
Despite persisting cross-country discrepancies, the COVID-19 issue has increased dynamism in the international e-commerce logistics scene and broadened the reach of e-commerce and logistics, through new enterprises, consumer segments, and goods.
The pandemic crisis resulted in an increase in last-mile delivery, which expects to continue. However, the pandemic scenario accelerated the expansion of the e-commerce and e-commerce logistics markets, which predict to double throughout the projection period.
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