The continued expansion of e-commerce platforms and the growing popularity of online shopping are anticipated to drive the growth of the global retail logistics market during the forecast period. The Asia-Pacific region is projected to hold the majority of market share by 2032.
WILMINGTON, Del., Oct. 25, 2023 /PRNewswire/ — Allied Market Research has recently published a report, titled, “Retail Logistics Market by Type (Conventional Retail Logistics, E-Commerce Retail Logistics), By Solution (Commerce Enablement, Supply Chain Solutions, Reverse Logistics and Liquidation, Transportation Management, Others), By Mode of Transport (Railways, Airways, Roadways, Waterways): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global retail logistics market generated $238.5 billion in 2022, and is anticipated to generate $809.7 billion by 2032, rising at a CAGR of 13.5% from 2023 to 2032.
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Prime Determinants of Growth
Increased global trade, particularly in developing economies, is expected to drive the growth of the global retail logistics market in the forecast period from 2023 to 2032. However, inadequate transportation infrastructure, like congested highways, limited ports, and poorly maintained roads, can cause delays in the delivery of products, which may hamper the retail logistics market growth in the coming future. On the contrary, the swift delivery options provided by retail logistics is expected to offer remunerative opportunities for the expansion of the retail logistics market during the forecast period.
Leading Players in the Retail Logistics Market:
XPO Logistics, Inc.
DSV
C.H. Robinson Worldwide, Inc.
Nippon Express Co., Ltd.
Schneider
DHL International GmbH
Kuehne + Nagel International AG
United Parcel Service, Inc.
FedEx Corporation
APL Logistics Ltd.
The report provides a detailed analysis of the key players of the global retail logistics market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Retail Logistics Industry Report Coverage & Details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$238.5 billion |
|
Market Size in 2032 |
$809.7 billion |
|
CAGR |
13.5 % |
|
No. of Pages in Report |
310 |
|
Segments covered |
Solution, Type, Mode of Transport, and Region |
|
Drivers |
The growth of global transportation infrastructure Collaborations with third-party logistics providers, technology firms, and other industry participants |
|
Opportunities |
The last-mile delivery strategy Advancements in artificial intelligence (AI) and big data analytics |
|
Restraints |
Outdated or insufficient storage infrastructure, particularly warehouses and distribution centers |
COVID-19 Scenario
The outbreak of the COVID-19 pandemic had a significant impact on the growth of the global retail logistics market. Lockdowns and travel restrictions were enforced in many nations to stop the virus’s spread. These actions caused supply chain disruptions, such as transportation restrictions, manufacturing closures, and reduced worker availability.
As physical shops closed or operated at reduced capacity, there was a considerable shift toward online shopping. This surge in e-commerce placed more pressure on merchants’ logistics and fulfillment operations, as they had to respond to increased demand for home deliveries and manage returns effectively.
Moreover, last-mile delivery, the final stage in the method of transportation from a distribution center to end customers, faced difficulties as demand increased. Retailers had to figure out how to ensure on-time and safe deliveries while also dealing with potential shortages of workers and the necessity for contactless delivery options.
Solution: Supply Chain Solutions Sub-Segment Grabs Highest Share in 2022
The supply chain solutions sub-segment of the global retail logistics market accounted for the largest share of 28.4% in 2022 and is expected to grow significantly during the forecast period. The prominent growth of the sub-segment is mainly due to the increased adoption of cloud-based supply chain technologies, which help with tracking and optimizing transportation and handling returns.
Type: Conventional Retail Logistics Sub-segment to Observe Significant Growth by 2032
The conventional retail logistics sub-segment of the global retail logistics market accounted for the highest share of 54.3% in 2022 and is projected to witness substantial growth during the forecast period. The prominent growth of the sub-segment is mainly due to the growing use of conventional retail logistics services by consumers who have limited dependence on the Internet and thus choose to shop in conventional retail locations.
Mode of Transport: Roadways Sub-segment to Experience Massive Growth by 2032
The roadways sub-segment of the retail logistics market accounted for the highest share of 31.5% in 2022 and is projected to experience widespread growth during the forecast period. The prominent growth of the sub-segment is mainly due to the increased need for roadway vehicles for transporting retail products over large distances, particularly in domestic regions.
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Region: Asia-Pacific Market to Grab Highest Share by 2032
The retail logistics market in the Asia-Pacific region accounted for the largest share of 43.6% in 2022 and is predicted to grow at the highest CAGR of 14.1% by 2032. This growth is mainly due to the increased focus on transportation systems and ongoing logistics infrastructure enhancements in emerging countries.
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