Retail Logistics Market, 2024The retail logistics global market report 2024
Market Size – The retail logistics market size has grown rapidly in recent years. It will grow from $221.92 billion in 2023 to $241.33 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to increased globalization, growing retail e-commerce business, increasing economic activity, growing retail logistics industry, and increasing use of smartphones.
The retail logistics market size is expected to see rapid growth in the next few years. It will grow to $357.81 billion in 2028 at a compound annual growth rate (CAGR) of 10.3%. The growth in the forecast period can be attributed to leading to the need for efficient order fulfillment, effective coordination of suppliers, growing urban populations, regulatory constraints, and Increasing disposable income. Major trends in the forecast period include the adoption of robotics, last-mile delivery innovations, sustainability initiatives, omnichannel integration, and same-day and hyperlocal deliveries.
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Scope Of Retail Logistics MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Retail Logistics Market Overview
Market Drivers -The expansion of the e-commerce sector is expected to accelerate the growth of the retail logistics market in the upcoming years. The e-commerce sector encompasses all commercial transactions conducted electronically over the internet. Its growth is driven by increased internet penetration, the convenience of online shopping, and a broadening range of digital payment options. Retail logistics in e-commerce ensures the efficient storage, management, and delivery of goods, thereby enhancing customer satisfaction through timely and accurate order fulfillment. For instance, according to a report published by the International Trade Administration, a US-based government agency, in October 2021, e-commerce for consumer goods is projected to account for approximately 22% of total retail sales globally by 2024, with average growth exceeding 1% annually. Furthermore, global retail e-commerce sales are expected to demonstrate a steady long-term increase of 8% through 2024. Therefore, the growing e-commerce sector is a key driver of the retail logistics market.
Market Trends – Major companies operating in the retail logistics market are developing technologically advanced offerings, such as location intelligence solutions, to better serve customers with advanced features. A location intelligence solution utilizes geographic data to provide insights and analytics for making informed business decisions. For instance, in September 2023, Delhivery, an India-based logistics company, launched LocateOne, an application programming interface (API)-driven location intelligence stack that enhances address data quality and accuracy, particularly improving rooftop precision and addressing fraudulent activities across retail, commerce, fintech, banking, and financial services sectors. Delhivery emphasizes its state-of-the-art solution, powered by patented address disambiguation and identification technology, positioning it to drive operational excellence in commerce. Delhivery views its OS1 platform as crucial in establishing itself as the operating system for commerce, providing businesses with significant opportunities for streamlined operations.
The retail logistics market covered in this report is segmented –
1) By Type: Conventional Retail Logistics, E-Commerce Retail Logistics
2) By Solution: Commerce Enablement, Supply Chain Solutions, Reverse Logistics And Liquidation, Transportation Management, Other Solutions
3) By Mode Of Transport: Railways, Airways, Roadways, Waterways
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Regional Insights – North America was the largest region in the retail logistics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail logistics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are United Parcel Service Of America Inc., FedEx Corp., DHL International GmbH, A.P. Moller – Maersk AS, Delhivery Pvt. Ltd., DSV AS, C.H. Robinson Worldwide Inc., Nippon Express Co. Ltd., Expeditors International of Washington Inc., J.B. Hunt Transport Services Inc., Ryder System Inc., GXO Logistics Inc., XPO Logistics Inc., Lineage Inc., Americold Logistics Inc., APL Logistics Ltd., Blue Dart Express Ltd., Rhenus Logistics Sarl, ACT Fulfillment Inc., Freight Tiger, Safexpress Pvt. Ltd., NTC Logistics Pte Ltd., Avg Logistics, Secured Delivery Services, Ark India
Table of Contents 1. Executive Summary2. Retail Logistics Market Report Structure3. Retail Logistics Market Trends And Strategies4. Retail Logistics Market – Macro Economic Scenario5. Retail Logistics Market Size And Growth…..27. Retail Logistics Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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