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
|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|
Published: July 6, 2021
Grand View Research, Inc.
Content info: 80 Pages
Delivery time: 2-10 business days
Retail Logistics Market Growth & Trends
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.
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.
Retail Logistics Market Report Highlights
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