PORTLAND, Oregon, March 25, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Reverse Logistics Market by Return Type (Recalls, Commercial Returns, Repairable Returns, End-of-use Returns, and End-of-life Returns) and End User (E-commerce, Automotive, Pharmaceutical, Consumer Electronic, and Others): Global Opportunity Analysis and Industry Forecast, 2018 – 2025". The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global reverse logistics market generated $415.2 billion in 2017 and is expected to reach $603.90 billion by 2025, growing at a CAGR of 4.6% from 2017 to 2025.
Expansion of e-commerce industry, stringent government rules in automotive industry increasing product recall, and increased need for reverse logistics in pharmaceutical industry drive the growth of the reverse logistics market. However, uncertainty in reverse logistics process and increase in quality control restrain the growth of the market. Conversely, introduction of block-chain technology and rising need for reverse logistics due to increasing e-waste create new opportunities for growth of the market.
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Commercial returns to be dominant, end-of-life returns to grow the fastest
Among return types, the commercial returns segment grabbed more than one-third of the market share in 2017 and would maintain its revenue lead through 2025. Commercial returns allow the supplier to rectify the mistake such as wrong product delivered, damaged product, and others, and enables a company to increase its revenue by implementing effective reverse logistics process. However, the end-of-life returns segment would grow at the highest CAGR of 7.0% from 2018 to 2025.
E-commerce segment to exhibit the fastest growth
Among end users, the e-commerce is likely to exhibit the fastest growth of 6.3% from 2018 to 2025. This is due to the increasing penetration of high-speed internet and booming trend of online shopping. However, the others segment was the largest in 2017 and would dominate the market through the forecast period.
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Asia-Pacific to be dominant, LAMEA to exhibit the fastest growth
The market in Asia-Pacific captured more than one-third of the market share in 2017 and is likely to dominate the market through 2025. This is because a majority of the logistics companies have started offering specialized reverse logistics services in this region. However, LAMEA (Latin America, Middle East and Africa) is expected to register the fastest CAGR of 6% from 2018 to 2025. The other regions analyzed in the report include North America and Europe.
Key players of the industry
Leading players analyzed in the reverse logistics market report include C.H. Robinson, DB Schenker, Delcart, Deliveryontime Logistics Pvt. Ltd., FedEx Corporation, Kintetsu World Express, Reverse Logistics Company, The Deutsche Post AG, United Parcel Service, Yusen Logistics Co., Ltd., and others. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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Global logistics market holds a vital scope for growth globally. Increasing applications of logistics market in the various modes and end user industry is expected to fuel growth in the coming years. Roadways are one of the key components of modes of transportation and multimodal transport. It accounts for nearly 47.29% of the overall mode of transportation used in the world logistics market. The segment contributed highest share in total logistics market owing to its speed transportations and flexibility.
The cash-in-transit segment dominated the global cash logistics market in 2017, in terms of revenue. In addition, based on end-user, the financial institutions segment is expected to lead the market throughout the forecast period. Presently, LAMEA is the highest revenue contributor, and is expected to garner highest revenue in the global market during the forecast period, followed by North America, Europe, and Asia-Pacific.
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SOURCE Allied Market Research