Global E-Commerce Logistics Market Surpass US$ 3,600 billion by 2028 | CAGR 20%
According to Ameco Research, the worldwide E-Commerce Logistics industry will increase at a CAGR of 20% throughout the forecast period, reaching a market size of more than US$ 3,600 bn by 2028.
The pandemic has shifted consumer behavior from offline to online shopping, which is expected to accelerate the e-commerce market’s growth trajectory. According to the US Department of Commerce, digital spending increased 9.2% year over year during the holiday-centric fourth quarter, bringing the total increase in e-commerce for 2021 to 14.2%. According to Statista, more than 2 billion individuals bought products and services online in 2021, up from 1.66 billion in 2016.
The E-Commerce Logistics market expands with the increasing number of smartphone users across the world
Increasing cross-border e-commerce operations and expansion of the e-commerce industry in the coming years are some of the primary factors driving the growth of the global e-commerce logistics market. In addition, the growing number of smartphone users coupled with the increasing trend of online shopping is also expected to boost the e-commerce logistics market share in the coming years. For instance, according to Commerce Department data, customers spent US$ 870.78 billion online with US retailers in 2021, up from US$ 762.68 billion in 2020. Before 2020, no year has ever seen a two-percentage-point rise in digital penetration over the previous 12-month period. However, when COVID-19 arrived in the United States, internet spending grew to 19.1 percent in 2020, up from 15.5 percent in 2019.
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Increasing penetration of internet is one of the top trends witnessed in the market. The expansion of online technology has increased the rate of adoption of e-commerce logistics in several applications. Additionally, rapid development and innovation in the logistics sector is also a crucial component helping to grow the market with a significant push during the forecast period 2021 – 2028. Sellers want more transparency and efficiency from the e-commerce logistics companies with whom they work. This will also enable greater customization of e-commerce logistics services.
The rise of the e-commerce logistics business is also being fueled by the advent of various online-only stores in emerging nations that cannot afford to establish their own in-house services. As a result, the market’s growth is expected to be influenced by e-commerce businesses’ increasing focus on cost optimization and optimizing workflow. Furthermore, the increased usability of imported goods is going to transfer into significant growth in the e-commerce sector, guiding the e-commerce logistics business expansion over the estimated timeline. Regulatory difficulties and restrictions set by the European Union, on the other hand, may act as a restraint on market expansion during the forecast period.
Global E-Commerce Logistics Market Segmentation
Service type, operational area, and regions are the segmentation considered in the global e-commerce logistics market. The service type segment is bifurcated into transportation and warehousing. The transportation segment is further classified into air/express delivery, freight/rail, trucking/over road, and maritime. Warehousing segment is split into mega centers, hubs/delivery centers, and returns processing centers. The transportation segment dominated the service type segment in 2020 due to increasing use of several modes of transport such as air, road, rail, and maritime in e-commerce activities.
Based on operational area the market is split into international, and domestic. Among them, domestic segment acquired the maximum market share in 2020. The growing popularity of home delivery services and the expanding trend of online shopping are the key drivers driving demand for the domestic market.
The regional segmentation includes North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa. On the basis of regional stance, the Asia-Pacific region generated the largest revenue in 2020. Members of the Association of Southeast Asian Nations (ASEAN), such as Singapore, Malaysia, and Indonesia, have consistently ranked among the world’s top markets for online shopping penetration. In the ASEAN member states, e-commerce is expected to increase at a double-digit rate.
Major Players
The E-Commerce Logistics market is consolidated with a big number of players. The prominent players offered in the report include Agility Public Warehousing Company K.S.C.P., Amazon.com, Inc., Aramex International, Ceva, Holdings LLC, Clipper Logistics Plc., DHL International GmbH, FedEx Corporation, Gati Limited, Kenco Group, Inc., XPO Logistics, Inc., United Parcel Service, Inc.
In February 2019, FedEx debuted a prototype of the FedEx SameDay Bot – Roxo, which is an independent delivery device designed on account of the explosive growth of e-commerce. Roxo is intended for use within a three-to-five-mile radius of a retailer’s location, and it operates on sidewalks, bike lanes, and roadside.
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