Summary
A new market study, titled “Global Retail Logistics Market by Type (Conventional Retail Logistics and E-Commerce Retail Logistics), By Solutions (Commerce enablement, Supply Chain Solutions, Reverse logistics & liquidation and Transportation Management), By Mode of Transport (Railways, Airways, Roadways and Waterways), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)” has been featured on WiseGuyReports.
Global Retail Logistics market projected to promulgate due to the rise in global trade activities in developing nations and development in logistics infrastructure across the globe
The global retail logistics market projected to grow at a CAGR of over 11.29% during the forecast period 2020–2027. The primary factors are the growing adoption of multimodal transportation, along with the rise in international retailing. Additionally, the surge in multimodal transportation owing to its benefits such as the decrease in cargo-handling time, reduction in customs controls, decreased costs per vehicle, and the requirement of just one contract is expected to drive the global retail logistics market size. Moreover, the Innovative last-mile delivery mechanisms in the retail e-commerce market will accelerate the retail logistics industry in the forecast span. Also, the emergence of IoT in the supply chain, thus improving customer satisfaction levels and connects various technical devices through sensors installed on these devices. It also enables procuring real-time information of various critical parameters such as temperature, filing rate, etc. will demand retail logistics in the near future.
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In the face of the advent of the intelligent era, including things like intelligent distribution robots and automatic goods and new technologies such as sorting systems and intelligent customer service will open a new era of smart logistics. At the same time, in response to the impact of e-commerce, in addition to the gradual development of online shopping, mass transit stores have also become internal operation modes. Furthermore, the increasing globalization, along with the rise in international retailing through improvement in their economy as the import and export of goods lead to augmented tax revenue is anticipated to foster the growth of the global retail logistics industry. The enrichment of retail formats, companies now not only have to manage traditional distribution channel systems, but also manage emerging businesses such as B2C e-commerce, B2B wholesale distribution, O2O, self-service vending machines, and unmanned stores.
Type Overview in the Global Retail Logistics Market
Based on type, the global retail logistics market classified into Conventional Retail Logistics and E-Commerce Retail Logistics. The E-Commerce Retail Logistics will be the fastest-growing segment in the forecast period. It is owing to the surge in internet penetration that is on the rise and mobile technology along with increasing disposable income, growing usage of credit and debit cards, lower mobile tariffs, and swelling smartphone usage across the developing nations.
Solution Overview in the Global Retail Logistics market
Based on the solution, the global retail logistics market segregated into commerce enablement, supply chain solutions, reverse logistics & liquidation, and transportation management. The supply chain solutions witnessed the largest market share in 2019 and will dominate by 2027. It is on account of supply chain help in optimizing omnichannel operations, enable on-time delivery, and effectively process customer returns and personalize kitting and order fulfillment.
Mode of Transport Overview in the Global Retail Logistics Market
Based on the mode of transport, the global retail logistics market classified into Railways, Airways, Roadways, and Waterways. The railways' segment projected to lead the market by 2027. It is due to the railways help in provide versatility, high carrying capacity, and speed, making it a great option.
Regional Overview in the Global Retail Logistics Market
By geography, the Global Retail Logistics Market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific held a higher market share in 2019 and will continue its dominance by 2027. It is attributable to increasing adoption of logistics in the retail sector along with the rise of mobile technology, the rapid pace of urbanization, and growing disposable income.
Global Retail Logistics Market: Competitive Landscape
Companies such as C.H. Robinson Worldwide, Inc., Deutsche Post AG, Expeditors International of Washington Inc., FedEx Corp., J.B. Hunt Transport Services Inc., Kuehne + Nagel International AG, Penske Truck Leasing Co. LP, Ryder System Inc. The Maersk group, United Parcel Service, Inc., XPO Logistics Inc., and Panalpina are the key players in the Global Retail Logistics Market.
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