The report titled “Philippines Express and E-Commerce Logistics Market Outlook to 2023 – By Air Express and Road Express, By International Express and Domestic Express, By B2B, C2C and B2C Model, By E-Commerce Merchants and 3PL Companies” by Ken Research suggested a growth at a noteworthy six year CAGR of 9.0% in Philippines express delivery market and a massive CAGR of 24.6% in the Philippines E-commerce logistics market in terms of revenue in next 5 years till the year ending 2023E.
The market has been dominated by the international delivery which comprised of 76.2% of the market revenue during the year 2017. With the development of well-planned cargo ports in the country and good connectivity with Asian, Middle East and European countries through air routes has resulted in an increase in demand for express delivery from international shipment in the country.
Increasing usage of advanced mobile applications and banking solutions for the customers has made it easier for them to shop online, which further intensified the E-commerce logistics market in the Philippines.Last mile logistics has gained popularity in Philippines, especially amongst domestic shipping companies in the country with the introduction of new web technologies and surging e-commerce operations. It has led several e-commerce companies to think, strategize and invest on their logistics operations in order to surpass their competition. Major E-commerce logistics firms in Philippines have shifted their focus on timely, reliable and a safe delivery of products, thereby making it an integral part of their system for creating customers. It has been witnessed that E-commerce companies as well as the domestic parcel delivery companies have been majorly providing these services as Filipino customers are increasingly demanding for faster deliveries of goods and are willing to pay extra price for sooner deliveries.
Opening up of logistics hubs along with the introduction of new web technologies in last mile logistics drew much attention from not online sellers but shipping companies as well. An updated system will help shipping companies to plan the route, catalogue the transactions and keep track of all the deliveries. Some of the major players operating in E-commerce logistics space include Lazada Express, LBC Express, DHL Philippines, Shopee and others.
The major challenge in front of the express delivery services has been the deficit of rapid infrastructural development. The growth of infrastructural facilities has not been able to keep up with the swift expansion in the logistics and freight forwarding sector. This lack of infrastructural support has marred the expansion of the logistics industry in the Philippines. Even though the Filipino express delivery market comprises of a large number of local and international companies, it has certain road blocks that have restricted the entry of new players.
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For more information on the research report, refer to below link:
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/philippines-express-ecommerce-logistics-market/163821-100.html
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