The global e-commerce logistics market is estimated to reach US$ 531.6 Billion in 2022 and is projected to reach US$ 2,734.6 Billion by 2032. From 2022 to 2032, the market is projected to record a CAGR of 17.8%, gaining momentum over the forecast period of 2022-2032. With the help of big data, retailers can better understand consumer behaviors and shopping habits and refine their e-commerce logistics strategies.
According to New Gen Apps, the built-in GPS of mobile technology will substantially increase value to existing tracking systems in the supply chain. Although technically part of the IoT, the use of GPS can also extend to RFID tags and AIDC technologies. The above factors all contribute to driving the demand for e-commerce logistics in the market.
“3D printing and active RFID tracking, as well as other innovations within logistics and manufacturing, will enable shippers to stay competitive in e-commerce in the future," says an analyst at FMI.
Key Takeaways from the Market Study
• The global e-commerce logistics market is currently valued at US$ 531.6 Billion, with a CAGR of 17.8% during the forecast period.
• Transportation service type e-commerce logistics segment to expand at a CAGR of 17.9% during the forecast period.
• In the U.S., the market is predicted to reach US$ 748.9 Billion while growing at a CAGR of 17.5% during the forecast period.
• China's market will grow at a 19.6% CAGR during the forecast period.
• India is set to record a CAGR of 20.8% CAGR during the forecast period.
• Japan is expected to reach a CAGR of 18.5% during the forecast period between 2022 and 2032.
Competitive Landscape
• Pan-African investment firm Janngo Capital led the round. In December 2021, Kamioun, an e-commerce startup company that distributes products worldwide, received a US$400,000 investment. Anava Seed Fund (Flat6labs fund), Dakar Network Angels, existing business angels and new investors participated in the round. The funds will be used to expand the distribution of its products, improve operations and the solution, and add more employees in order to gain a larger customer base.
• ShipMonk acquired Ruby Has Fulfillment, a logistics technology company and former competitor in the online fulfilment sector, in January 2022. Sources say the deal took place in November 2021 for an undisclosed sum. Adding the Canadian market to its network will allow ShipMonk to expand its reach in North America, and the company will also enter the U.K. market, where rival ShipBob has already been operating since March 2021. ShipMonk had also hinted that it plans to open a fulfillment center in continental Europe for quite a while.
These insights are based on a report on E-commerce Logistics Market by Future Market Insights