The main factors that are fueling the growth of market revenue are the rise in the adoption of e-commerce and the growing demand for supply chain and logistics services in the expanding retail sector.
Retail Logistics Market Size – USD 540.83 Billion in 2022, Growth – at a CAGR of 7%, Trends – Growing demand for home delivery services.
The global Retail Logistics Market size was USD 540.83 Billion in 2022 and is expected to register a revenue CAGR of 7% over the forecast period, according to the latest report by Reports and Data.
The retail logistics industry has been significantly impacted by the COVID-19 pandemic, with disruptions in supply chain and transportation causing delays. Due to increased demand for necessities and the closure of physical stores, logistics and supply chain systems are facing unprecedented stress. The pandemic has also led to a surge in demand for home delivery services and e-commerce, resulting in increased demand for logistics and supply chain services in the retail sector. Additionally, market revenue growth is being driven by the adoption of advanced technology, the need for sustainable logistics solutions, efficient last-mile delivery, and cross-border logistics solutions, as well as the growth of e-commerce trends.
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Top Lading Players: Amazon, United Parcel Service (UPS), FedEx Corporation, DHL International GmbH, XPO Logistics, Inc., Kuehne + Nagel International AG, Damco, CEVA Logistics, TNT Holdings B.V., and J.B. Hunt Transport Services, Inc.
Some Key Highlights from the Report:
- During the forecast period, conventional retail logistics is expected to generate the largest portion of revenue. This is due to the growing number of retail establishments, higher disposable incomes, and an increasing demand for fast-moving consumer goods. The conventional retail logistics chain includes retailers, wholesalers, and logistics service providers. It involves various stages, including procurement, transportation, storage, and delivery, all of which are streamlined to ensure speedy and efficient delivery of products to physical stores.
- During the forecast period, the rail transportation segment is expected to hold a significant portion of the revenue share. This is mainly attributed to the growing demand for eco-friendly transportation options, the escalating cost of fuel, and the necessity for dependable and economical logistics services. Rail transport is a highly efficient method for transporting freight over long distances, and major players in this market include railway operators, logistics service providers, and merchants.
- The North American market is expected to have the highest revenue share over the forecast period, primarily due to the rise in e-commerce usage and technological advancements. There is a growing demand for retail logistics services that provide same-day delivery and faster shipping options, leading to an increase in market demand. To optimize their operations and reduce expenses, the logistics industry is integrating cutting-edge technologies like Artificial Intelligence (AI), Machine Learning (ML), and blockchain to adapt to the evolving needs of the retail market.
Segments covered in the report:
Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Conventional Retail Logistics
- E-Commerce Retail Logistics
Solution Outlook (Revenue, USD Billion; 2022 – 2032)
- Commerce Enablement
- Supply Chain Solutions
- Reverse Logistics & Liquidation
- Transportation Management
Mode of Transport Outlook (Revenue, USD Billion; 2022-2032)
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- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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