WASHINGTON, July 07, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent study report of the Global Retail Logistics Market finds that increasing global trading activity in developing countries and the development of logistics infrastructure are accelerating the growth of the Retail Logistics Market in the coming years. The Retail Logistics Market system is used to manage a smooth flow of durable and non-durable goods from various prominent suppliers & distributors to customers, which in turn bolsters the growth of the Retail Logistics Market in recent days. The Global Market revenue was valued at a revenue of USD 219.5 Billion in 2021.
The Global Retail Logistics Market size is forecasted to reach USD 430.9 Billion by 2028 and is expected to rise by exhibiting a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period; states Vantage Market Research, in a report, titled " Retail Logistics Market Size, Share & Trends Analysis Report by Type (Conventional Retail Logistics, E-Commerce Retail Logistics), by Solution (Commerce Enablement, Supply Chain Solutions, Reverse Logistics & Liquidation, Transportation Management), by Mode of Transport (Railways, Airways, Roadways, Waterways), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Insights & Findings from the Report:
According to our primary respondents’ research, the Retail Logistics market is predicted to grow at a CAGR of roughly 11.9% during the forecast period.
The Retail Logistics market was estimated to be worth roughly USD 219.5 Billion in 2021 and is expected to reach USD 430.9 Billion by 2028; based on primary research.
On the basis of region, Asia Pacific is projected to dominate the worldwide Retail Logistics market.
Rising Assimilation of Drones and Smart Glasses
The increasing integration of drones and smart glasses into the logistics industry has increased flexibility and delivery speed. This integration is impacting the growth of the Retail Logistics Market during the forecast period. Self-driving cars and trucks can maintain high relevance and same-day delivery in urban and rural areas. In addition, augmented reality-backed integration with smart glasses makes delivery in the transportation and logistics industry much easier with hands-free route search, error-free facial recognition, and personalized delivery. With the introduction of Al integrated smart glasses, all users can improve the operational efficiency of the first mile and last-mile logistics, flexibility, and delivery speed. In addition, artificial intelligence, blockchain, machine learning, and other state-of-the-art technologies are expected to be widely used in the retail industry, propelling the growth of the Retail Logistics Market. Improved data management, tuned experience, predictive analytics, and real-time support are all benefits of AI. Other AI applications such as chatbots and virtual assistants help retailers stay in touch with their customers. This improves the company's profitability by informing its customers about promotions and sales.
Efficient Last-Mile Delivery
With the proliferation of e-commerce businesses, providing efficient last mileage delivery is becoming one of the most critical aspects of standing out from the competition. Same-day delivery is also becoming more common, driving the growth of the Retail Logistics Market. In addition, customers expect a better level of service in addition to same-day delivery. This will allow large retailers such as Wal-Mart and Amazon to set up Do it Yourself (DIY) walk delivery divisions in the United States and Canada instead of outsourcing. Therefore, a continuous commitment by logistics companies offering economical last-mile deliveries is another logistics trend expected to bring promising growth in the Retail Logistics Market throughout the forecast period.
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Segmentation of the Global Retail Logistics Market:
Conventional Retail Logistics
E-Commerce Retail Logistics
Supply Chain Solutions
Reverse Logistics & Liquidation
Mode of Transport
Middle East & Africa
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments worldwide implemented strict lockdown measures and social distancing norms to restrict the swift spread of the pandemic. Manufacturing facilities worldwide were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the automotive & transportation industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
Impact Assessment of COVID-19 Pandemic
Middle East & Africa
Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
Key Strategies Undertaken by Companies to Tackle COVID-19
Long Term Dynamics
Short Term Dynamics
The Report on Retail Logistics Market Highlights:
Assessment of the market
COVID Impact Analysis
Historic Data, Estimates, and Forecast
Global and Regional Dynamics
Browse market data Tables and Figures spread through 149 Pages and in-depth TOC on "Retail Logistics Market Size, Share & Trends Analysis Report by Type (Conventional Retail Logistics, E-Commerce Retail Logistics), by Solution (Commerce Enablement, Supply Chain Solutions, Reverse Logistics & Liquidation, Transportation Management), by Mode of Transport (Railways, Airways, Roadways, Waterways), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Asia Pacific Dominated the Global Retail Logistics Market
Asia Pacific held the largest share in the Global Retail Logistics Market in 2021. With the significant expansion of E-Commerce and the availability of a huge consumer base of retail products, the region is expected to maintain its dominance over the forecast period. India, Japan, China, and Australia are among the top 10 item exporters and account for a significant share of the Global Retail Logistics Market. As a result, the excellent development outlook for the regional E-Commerce industry is a major driver of regional market growth.
List of Prominent Players in the Retail Logistics Market:
XPO Logistics Inc.
Kuehne + Nagel International AG
C.H. Robinson Worldwide Inc.
December 2021: AP Moller Maersk has entered a long-term strategic partnership with Li & Fung, the world's leading supply chain solution partner for consumer brands, retailers, and their affiliates. This partnership will enable both companies to leverage their resources and global network to develop a wide range of international supply chain services.
November 2021: DSV has extended its logistics contract with the American athletic shoes and apparel brand New Balance. As a result, DSV has tripled the volume stored and distributed for EMEA's New Balance.
July 2021: FedEx Express, a division of FedEx Corp., has entered into equity and commercial agreements with Delivery, a leading logistics and supply chain services company in India. After the agreement, the two companies will leverage each other's expertise to explore India's global trading potential.
Key questions answered in the report:
Which regional market will show the highest and rapid growth?
Which are the top five players of the Retail Logistics Market?
How will the Retail Logistics Market change in the upcoming six years?
Which application and product will take a lion’s share of the Retail Logistics Market?
What is the Retail Logistics market drivers and restrictions?
What will be the CAGR and size of the Retail Logistics Market throughout the forecast period?
This market, titled “Retail Logistics Market” will cover complete information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others, as mentioned below:
Market Size Provided for Years
Region & Counties Covered
• North America
• XPO Logistics Inc.
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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