Retail Logistics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033
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The retail logistics market has grown rapidly in recent years, anticipated to rise from $221.92 billion in 2023 to $241.33 billion in 2024 at a CAGR of 10.2%. This growth is driven by increased globalization, the booming retail e-commerce sector, heightened economic activity, a growing retail logistics industry, and the rising use of smartphones.
What Is The Estimated Market Size Of The Global Retail Logistics Market And Its Annual Growth Rate?
The retail logistics market is expected to witness substantial growth, with projections indicating it will reach $357.81 billion by 2028 at a CAGR of 10.3%. This growth is attributed to the need for efficient order fulfillment, effective supplier coordination, rising urban populations, regulatory constraints, and increasing disposable incomes. Major trends expected during this period include the adoption of robotics, innovations in last-mile delivery, sustainability initiatives, omnichannel integration, and same-day or hyperlocal delivery options.
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Growth Driver of The Retail Logistics Market
The expanding e-commerce sector is expected to drive the growth of the retail logistics market in the near future. E-commerce includes all commercial transactions conducted electronically over the internet. The growth of this sector is fueled by increased internet access, the convenience of online shopping, and a wider range of digital payment options. Retail logistics in e-commerce plays a crucial role in the efficient storage, management, and delivery of goods, ensuring customer satisfaction through timely and accurate order fulfillment.
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Which Market Players Are Driving The Retail Logistics Market Growth?
Major companies operating in the retail logistics 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
What Are The Emerging Trends Shaping The Retail Logistics Market Size?
Major players in the retail logistics market are incorporating location intelligence solutions to better serve customers. By leveraging geographic data, these solutions provide insights and analytics that empower businesses to make informed decisions, enhance service delivery, and improve customer satisfaction.
How Is The Global Retail Logistics Market 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
Geographical Insights: North America Leading The Retail Logistics Market
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.
Retail Logistics Market Definition
Retail logistics refers to managing the flow of goods and services from their origin to the point of consumption in the retail supply chain. This process involves organizing, executing, and managing the storage and movement of products, as well as related information, to meet consumer demands efficiently.
Retail Logistics Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global retail logistics market report covering trends, opportunities, strategies, and more
The Retail Logistics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on retail logistics market size, drivers and trends, retail logistics market major players, competitors’ revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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