A $729.1 Billion Global Opportunity for eCommerce Logistics by 2026 - New Research from StrategyR
Jan 18, 2022, 08:05 ET
SAN FRANCISCO, Jan. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "eCommerce Logistics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: January 2022
Executive Pool: 603
Companies: 126 - Players covered include C.H. Robinson Worldwide, Inc.; CEVA Logistics; FedEx Corporation; Gati Ltd.; Kuehne + Nagel, Inc.; Nippon Express Co., Ltd.; Rhenus SE & Co. KG and Others.
Coverage: All major geographies and key segments
Segments: Operational Area (Domestic, International); Service (Transportation, Warehousing, Other Services)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global eCommerce Logistics Market to Reach US$729.1 Billion by the Year 2026
The transportation services provided to online retail markets is known as e-commerce logistics. The process ensures that the product sold by the e-commerce company reaches the customers safely, and without delay. Technological innovation in the supply chain management field is the reason for growth in the field of digitalization of e-commerce logistics. The expansion of e-commerce and increase in online shoppers, particularly in emerging countries is expected to drive the growth of e-commerce logistics market. Key factors driving the e-commerce logistics market growth include growing use of smartphones, rising Internet penetration, increasing acceptability of online payment, entry of new e-commerce players, governmental initiatives to drive infrastructure development and implementation of regulations, favorable demographics and improvement in last-mile delivery. Furthermore, the e-commerce logistics market growth is indirectly driving mobile and Internet penetration, m-commerce sales, exciting discounts, convenient payment methods, modern door-to-door shipping and extension to new markets via e-business. In coming years, cross-border e-commerce services are expected to be a major factor driving the growth of e-commerce logistics market.
Amid the COVID-19 crisis, the global market for eCommerce Logistics estimated at US$243.4 Billion in the year 2020, is projected to reach a revised size of US$729.1 Billion by 2027, growing at a CAGR of 18.9% over the analysis period. Domestic, one of the segments analyzed in the report, is projected to grow at a 19.9% CAGR to reach US$571.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the International segment is readjusted to a revised 16.9% CAGR for the next 7-year period. This segment currently accounts for a 34.1% share of the global eCommerce Logistics market. The Covid-19 pandemic led to rapid growth of e-commerce logistics market. Players in the market are feeling the need to adapt to new opportunities and challenges to retain market share and business growth during peak seasons just as Amazon Prime Air service is doing by delivering packages below 5 pounds within 30 minutes or even less.
The U.S. Market is Estimated at $50.5 Billion in 2021, While China is Forecast to Reach $238.3 Billion by 2026
The eCommerce Logistics market in the U.S. is estimated at US$50.5 Billion in the year 2021. The country currently accounts for a 16.8% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$238.3 Billion in the year 2026 trailing a CAGR of 21.9% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.7% and 16.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 15.8% CAGR while Rest of European market (as defined in the study) will reach US$23.1 Billion by the end of the analysis period. Asia-Pacific is one of the largest and most rapidly growing market for e-commerce logistics. Increase in online and digital market players and increasing adoption of e-commerce logistics in different sectors largely drive the growth of Asia-Pacific e-commerce logistics market. In addition, Asian countries that include China, South Korea and Japan are leading exporters of merchandise and contribute to a major part of the global e-commerce sales. The North American region is the second largest global market for e-commerce logistics, with the United States being the major contributor. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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