Retail Logistics Market Trends: The Impact of IoT and Beyond
The global retail logistics market, which registered approximately US$200 billion in revenue in 2022, is poised for impressive growth rates by the end of 2030, according to a comprehensive market analysis by Fairfield Market Research.
Market Analysis in Brief Retail logistics encompasses the precise orchestration of goods from the supply point to the end consumer, including transportation, storage, inventory management, and fulfillment. The sector is witnessing increasing popularity, with a promising outlook, thanks to the proliferation of connected technology, including the Internet of Things (IoT), and other futuristic technologies across various business verticals.
Key Report Findings
- The retail logistics market is projected to exhibit strong growth rates by 2030.
- The ubiquity of connected technology is a key driver for market expansion.
- Asia Pacifics retail logistics industry, particularly in China and India, is set to display phenomenal growth.
- Singapore is emerging as a lucrative destination for investors.
Growth Drivers The deeper penetration of connected technology, with Machine-To-Machine (M2M) connections expected to reach 14.7 billion by 2023, is creating fertile ground for the retail logistics market. Fleet managers are increasingly recognizing the benefits of fleet monitoring solutions, leading to enhanced productivity.
Overview of Key Segments
- Conventional logistics maintain dominance, driven by consumer preference for traditional retail stores and the ability to inspect products.
- Asia Pacific is the key regional market, fueled by technological advancements, automation, and a growing eCommerce landscape.
- Chinas eCommerce boom and Singapores logistics modernization efforts are significant growth catalysts.
- Indias substantial investments in roads and highways contribute to market expansion.
China’s Massive eCommerce Boom Chinas eCommerce market is the largest globally, accounting for over 50% of all eCommerce transactions. The countrys internet infrastructure and international logistics networks have played a pivotal role in this growth.
Singapore Gears up Singapore is modernizing its logistics sector by combining technology with existing processes. The governments Industry Transformation Programme aims to enhance logistics operations, innovation leadership, and attract foreign investment.
India’s Expanding Road and Highway Portfolio Indias government has allocated significant funds for infrastructure development, with roads and highways receiving substantial investments. By 2022, it is expected that 200,000 km of national highways will have been constructed.
Global Retail Logistics Market: Competitive Landscape Key players in the global retail logistics market include XPO Logistics, Inc., FedEx, DHL International GmbH, DSV, C.H. Robinson Worldwide, Inc., Kuehne + Nagel International, Nippon Express, United Parcel Service, Schneider, APL Logistics Ltd, and A.P. Moller Maersk.
The global retail logistics markets promising growth prospects are driven by technological advancements, eCommerce expansion, and strategic investments across key regions.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/retail-logistics-market
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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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COMTEX_442320019/2840/2023-10-23T08:21:11
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