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Albany, New York, July 03, 2019 (GLOBE NEWSWIRE) -- Shopping through various e-commerce sites has become the most common trend these days. People are referring to online shopping portals for food, clothes, medicines, and other items. As a result of various benefits and customer centric approaches, the e-commerce industry is experiencing a major boost these days. Now, it’s not necessary that an e-commerce business will provide its services in its own locality. Moreover, the business thrives on acquiring customers of various locations in order to expand. Owing to this trend, the global e-commerce logistics market is expected to grow substantially in coming years.
Modern B2C Business to Fuel the Growth of the E-commerce Logistics Market
The growth of the global e-commerce logistics market is majorly supported by developing working efficiency of various sectors of e-commerce industry. Moreover, the massive penetration of internet and rising economies of people in various countries are some other reasons that are supporting the growth of global e-commerce logistics market in the forecast period.
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The market is expected to witness maximum growth in Asia Pacific. The unmatched growth in the region is result of growing trend of online shopping and major technological advancements that makes it easier for the consumers to order the products through e-commerce websites. Rising smartphone usage is another factor that is influencing the growth e-commerce logistics market in the forecast period of 201 to 2025.
According to a latest report by Transparency Market Research, the global e-commerce logistics market is expected to exhibit 20.6% CAGR in the forecast and is projected to generate revenue of approximately US$781 bn by the end of 2024.
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Penetration of Transport Industry to Fuel Demand in Overall Market
Vendors are anticipated to experience a high level of efficiency and transparency among their particular e-ecommerce logistics service providers. This factors is estimated to present a good scope of improved customization in the e-commerce logistics services, contributing in the growth of the global e-commerce logistics market. Simultaneously, the firms that are catering this facilities, are working upon to figure out some practical ways to reduce expenses, particularly the ones that are involved into reverse logistics as well. Transportation and warehousing and some more niche services are facilitated by e-commerce logistics firms.
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Mergers among Firms to be Major Strategy in Upcoming Years
Based on service type, the transportation segment dominated the global e-commerce logistics market, and was a bigger contributor than the warehousing segment. This is attributed to the fact that transport is an major factor in e-commerce logistics delivery and thus, is foreseen to lead the market, gaining more traction from big and small firms all over the world.
Tigers, a company in Hong Kong took over two-warehouses in Shanghai recently, which is likely to rise its capacity by 34%. Tigers stated that rise in demand for B2C and B2B customers, along with its responsibility towards Tmall, are the major factors behind the expansion.
Some of the prominent players of global e-commerce logistics market are FedEx Corporation and DHL International GmbH, Gati Limited, Clipper Logistics Plc., Aramex International, XPO Logistics, Inc., Kenco Group, Inc., and United Parcel Service, Inc.
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