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Retail Logistics Market Size to Exceed US$ 500.14 Bn by 2030Jun 01, 2022 (Profound knowledge via Comtex) — According to Nova one advisor's latest report, titled Retail Logistics Market Size: Industry Trends, Share, Growth, Opportunity and Forecast 2022-2030," the global Retail Logistics market reached a value of US$ 205.446 Billion in 2021. Looking forward, Nova one advisor expects the market to reach a value of US$ 500.14 Billion by 2030, exhibiting a CAGR of 12.1% during 2022-2030. Report Metric Historical: 2017-2021 Base Year: 2021 Forecast Year: 2022-2030 Note: We are updating our reports, If you want the latest primary and secondary data (2022-2030) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you via email within 24 to 48 hours. Get Access to a Free Copy of Our Latest Sample Report@ https://www.novaoneadvisor.com/report/sample/6497 The demand for retail logistics is witnessing an incremental surge due to the increase in global trade activities, especially in emerging economies. Developments in logistics infrastructure are anticipated to fuel the growth of the market. The retail logistics system enables a smooth flow of durable and non-durable goods from various prominent suppliers and distributors to customers. Besides, the use of logistics in the retail industry has led to shorter delivery times, low fulfillment costs, and improved ability to focus on service delivery rather than on administrative processes. International retailers have become intensely competitive due to the rise in globalization. As a result, the retail logistics market is witnessing intense competition among international retailers establishing new stores in developing economies such as the Asia Pacific. This is propelling the increase in trade activities, which facilitate transportation between different regions, therefore, leading to an upsurge in demand for retail logistic services to expedite product transportation. Moreover, international retailing is also supporting countries in improving their economy as the import and export of goods lead to increased tax revenue, which in turn is contributing to the overall market growth. Besides, the rising penetration of the internet has also boosted the number of trade and e-commerce opportunities for international retailers. The usage of multimodal transportation has increased owing to several benefits such as reduced customs controls, decreased cargo-handling time, and reduced costs per vehicle. This growing use of multiple means of transportation is one of the primary market trends, as it involves the use of a combination of ships, trucks, aircraft, or railcars. Combining these multimodal transportations can help in reducing inventory costs as well as helps in keeping the costs of the merchandise under control. Multimodal transportation also helps retailers to transport goods efficiently during outbound logistics with reduced transportation costs. Moreover, the last-mile delivery method in the retail e-commerce market is expected to propel the growth of the retail logistics industry in the forthcoming years. As an e-commerce platform allows comparison of products based on delivery time, prices, features, specifications, and compatibility requirements, it becomes easier for customers to compare products from several online sources, which is a drawback with distributors or brick-and-mortar stores. These benefits over brick-and-mortar stores propel the retail e-commerce industry and are expected to continue this trend in the forthcoming years. The ongoing COVID-19 pandemic has taken a severe toll on the global economy in majorly three ways: suppressing profitability, directly affecting production and demand, and drying up financial reserves and cash flows. Retail logistics companies are equally affected by the COVID-19 pandemic. The industry suffered a minor setback during the initial phases (Q1 and Q2) of the pandemic due to a shortage of labor and supply chain disruptions. Later, with consumers avoiding the in-store purchases and preferring online shopping, the increase in online orders did put an unprecedented strain on retail logistics companies' transportation and logistics services. Retail Logistics Market Report Highlights
Regional Insights The Asia Pacific region accounted for the largest revenue share of 26.05% in 2021. The region is anticipated to continue its dominance over the forecast period on the back of the high growth of e-commerce coupled with the presence of a large consumer base for retail products. Countries such as India, Japan, China, and Australia are among the top 10 exporters of merchandise and account for a large portion of global retail e-commerce sales. Thus, the strong growth prospects of the e-commerce industry in the region are the primary factors supporting the regional market growth. Moreover, increasing focus on transportation practices and several ongoing logistics infrastructure development in the emerging countries are other factors expected to boost the regional market growth. For instance, the Ministry of Road Transport & Highways (MoRTH), under the Logistics Efficiency Enhancement Program (LEEP) established by the Government of India, is creating multi-modal logistics parks to address under-developed road infrastructure and material handling infrastructure. Besides, North America is projected to exhibit a considerable share in 2020. The presence of several key players, including United Parcel Service of America, Inc., C.H. Robinson Worldwide, Inc., XPO Logistics, Inc., Ryder System Inc., FedEx, and Expeditors International of Washington, Inc. aiding the regional market growth. Buy this Premium Research Report(Single User License US$ 3500)@ https://www.novaoneadvisor.com/report/checkout/6497 Some of the prominent players in the Retail Logistics market include:
Segments Covered in the Report This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
Regional Segmentation
Key Questions Answered in Retail Logistics Market Report
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