The global retail logistics market size is anticipated to reach USD 498.34 billion by 2028, registering a CAGR of 11.8% over the forecast period, according to a new report by Grand View Research, Inc. The new last-mile delivery mechanisms in the retail e-commerce market coupled with the emergence of the Internet of Things (IoT) in the supply chain are expected to drive market growth. An IoT-based supply chain connects several technical devices via sensors installed on these devices and enables procuring the real-time information of numerous critical parameters such as filing rate and temperature.
Key Insights & Findings:
- The market is anticipated to witness substantial growth during the forecast period, owing to the increasing internet penetration and rise in global trade activities
- The conventional retail logistics segment accounted for the largest market share in 2020, owing to the rising adoption of conventional retail logistics services by consumers having limited dependence on the Internet and therefore prefer buying from conventional retail stores
- The supply chain solution segment accounted for the largest market share in 2020, owing to the rising use of cloud-based supply chain solutions helping in tracking & optimizing transportation and managing returns
- The roadways mode of transport accounted for the largest market share in 2020, owing to the growing demand for roadways vehicles in long distances transportation of retails products, especially in domestics regions
- Asia Pacific dominated the market in terms of revenue in 2020 and is expected to register significant growth over the forecast period. The growth is attributed to the presence of a large consumer base for retail products in the region
- Partnerships, collaborations, and business expansions remain the major strategies adopted by the leading market players
Read 80 page market research report, “Retail Logistics Market Size, Share & Trends Analysis Report By Type (Conventional Retail Logistics, E-commerce Retail Logistics), By Solution, By Mode Of Transport, By Region, And Segment Forecasts, 2021 – 2028‘, by Grand View Research.
Technological advancements supported by intelligent distribution robots and automatic goods and sorting systems provide customers with a new smart logistics era. In the new retail format, since most of the links have been digitalized and online in real-time, coupled with the application of new technologies such as big data and AI, helps companies to grasp the real needs of consumers faster and more accurately. It is also used to guide supply optimization and upgrading of chains.
Furthermore, for upgrading existing retail formats, companies, along with managing the traditional distribution channel systems, need to manage emerging businesses such as B2B wholesale distribution, B2C e-commerce, self-service vending machines, and O2O. Besides, the rising globalization and increase in international retailing through improvement in the economy as the export and import of goods lead to increased tax revenue is expected to boost the retail logistics industry growth in the forthcoming years.
The rapid growth of retail e-commerce has brought several opportunities to both emerging and established players in the market. However, retail e-commerce has also witnessed few operational and financial challenges in the recent past. At present, return shipments comprise a considerable part of logistics processes, which come with operational challenges and the ability to drive logistics costs. Moreover, substandard infrastructure can hamper market growth, as players in the market hesitate about expansion and investments.
Grand View Research has segmented the global retail logistics market based on type, solution, mode of transport, and region:
- Retail Logistics Type Outlook (Revenue, USD Billion, 2016 – 2028)
- Conventional Retail Logistics
- E-Commerce Retail Logistics
- Retail Logistics Solution Outlook (Revenue, USD Billion, 2016 – 2028)
- Commerce Enablement
- Supply Chain Solutions
- Reverse Logistics &Liquidation
- Transportation Management
- Retail Logistics Mode of Transport Outlook (Revenue, USD Billion, 2016 – 2028)
- Retail Logistics Regional Outlook (Revenue, USD Billion, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- North America
List of Key Players of the Retail Logistics Market
- XPO Logistics, Inc.
- Kuehne + Nagel International
- C.H. Robinson Worldwide, Inc.
- Nippon Express
- United Parcel Service
- APL Logistics Ltd
- DHL International GmbH
- A.P. Moller – Maersk
Check out more studies on Logistic Solutions, By Grand View Research:
- Third-party Logistics Market – Global third-party logistics market size was valued at USD 889.01 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2028. The development of logistics infrastructure in Asia and Middle East, the rapid growth of the global e-commerce sector, and the development of new technologies are expected to significantly contribute to the market growth.
- Automotive Logistics Market – Global automotive logistics market size was valued at USD 141.8 billion in 2019 and is anticipated to grow at a compound annual growth rate (CAGR) of 5.8% from 2020 to 2027. Automotive logistics is referred as warehousing and transportation of finished vehicles and their components and systems in the automotive supply chain.
- Secure Logistics Market – Global secure logistics market size was valued at USD 48.19 billion in 2015 owing to the increasing money circulation across the globe. The rising security concerns among corporate and banks have increased the requirement for secure movement and management services for currency.
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