E-Commerce Logistics Market Analysis:
With the advent of e-commerce logistics, the pandemic has transformed consumer behavior from offline to online purchasing, which is projected to drive the expansion of the e-commerce business. According to the US Department of Commerce, digital spending climbed 9.2% year on year in the holiday-driven fourth quarter, bringing the overall e-commerce rise for 2021 to 14.2%. According to Statista, over 2 billion people purchased goods and services online in 2021, up from 1.66 billion in 2016. This remarkable growth trajectory is being driven by a rising number of smartphone users throughout the world.
Key Points and Statistics on the E-Commerce Logistics Market:
· The global e-commerce logistics market is expected to reach USD 2,195.8 billion by 2032, growing at a CAGR of roughly 21.8% from 2023 to 2032
· The market value of e-commerce logistics was approximately USD 312.7 billion in 2022
· The market is segmented into service type, operational area and regional segments
· Asia Pacific is predicted to be the largest revenue-generating region through 2032
· Domestic segment are expected to dominate the operational area segment of the market
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Major Drivers of Growth for E-Commerce Logistics Market
The growing number of smartphone users throughout the world is one key element pushing the e-commerce logistics business. Increasing cross-border e-commerce operations and the expansion of the e-commerce sector in the coming years are two of the key drivers of the global e-commerce logistics market. Furthermore, the growing number of smartphone users, together with the rising popularity of online shopping, is predicted to increase the e-commerce logistics market share in the next years. For example, Commerce Department figures show that customers spent $870.78 billion online with US shops in 2021, up from $762.68 billion in 2020. Before 2020, no year has experienced a two-percentage-point increase in digital penetration over the previous 12 months. However, once COVID-19 came in the United States, internet expenditure increased to 19.1 percent in 2020, up from 15.5 percent in 2019.
Main Challenges Facing the E-Commerce Logistics Market
Although e-commerce logistics provide numerous benefits, there are a few barriers to their widespread implementation. One significant barrier is regulatory obstacles and constraints. For example, regulatory challenges and limits imposed by the European Union may limit market growth throughout the predicted period. For example, according to EU legislation, enterprises must register for tax purposes in the relevant state at the time of warehousing so that they may file early VAT returns. These requirements apply to all items in the kind of warehousing. As a result, these types of laws and restrictions may impede the expansion of the E-commerce logistics business.
Latest E-Commerce Logistics Market Trends and Innovations
Despite these challenges, the market for e-commerce logistics continues to rise as internet usage increases. The growth of internet technology has accelerated the use of e-commerce logistics in a variety of applications. Furthermore, fast expansion and innovation in the logistics industry will play a vital role in driving market growth between 2023 and 2032. Sellers want greater openness and efficiency from the e-commerce logistics providers with whom they operate. This will also allow for more customization of e-commerce logistics services. The expansion of the e-commerce logistics industry is also being spurred by the emergence of different online-only retailers in developing countries that cannot afford to construct their own in-house services. As a result, the market's growth is projected to be affected by e-commerce companies' increased emphasis on cost and process efficiency. Furthermore, the improved utility of imported items would result in considerable growth in the e-commerce sector, directing the e-commerce logistics business's rise during the predicted time period.
E-Commerce Logistics Market Segmentation:
Based on Service Type
· Transportation
o Air/express delivery
o Freight/rail
o Trucking/over road
o Maritime
· Warehousing
o Mega centers
o Hubs/delivery centers
o Returns processing centers
Based on Operational area
· International
· Domestic
Based on Region:
· North America
· Europe
· Asia-Pacific
· Latin America
· The Middle East & Africa
E-Commerce Logistics Market Regional Overview:
The Asia-Pacific region had the most income in 2022. ASEAN members, including Singapore, Malaysia, and Indonesia, have continuously placed among the world's top markets for online shopping penetration. E-commerce is predicted to grow at a double-digit rate throughout ASEAN member nations. Furthermore, China's economic expansion is driving the development of E-commerce logistics. Furthermore, the presence of a large number of significant firms in this region drives up demand for e-commerce logistics. For example, in May 2023, JD.com, Inc. unveiled One-Stop Shopping for appliances and home items. These involve upgrading services such as product offering, sustainable and healthy development and rising industry ecosystem and to enhancing cost efficiency. Moreover, the growing trends of cross border e-commerce in the countries like Indonesia, China and India further boost the demand. Furthermore, growing number of online users in this region also thrive the demand. For instance, 2.5 billion of online users are present in the Asia Pacific region in the year 2021. In essence, due to these several factors e-commerce logistics are experiencing a significant growth in the coming years
E-Commerce Logistics Market Companies:
Prominent players in the industry include Agility Public Warehousing Company K.S.C.P., Clipper Logistics Plc., Amazon.com, Inc., Ceva Holdings LLC, Aramex International, DHL International GmbH, FedEx Corporation, Kenco Group, Inc., Gati Limited, XPO Logistics, Inc., and United Parcel Service, Inc.
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