April 20, 2020
According to the research report titled ‘Global E-Commerce Logistics Market Size study, by Service Type (Transportation and Warehousing) By Operational Area (International and Domestic) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global e-commerce logistics market garnered USD 248.3 billion in 2018 and is expected to grow with a CAGR of 21.20% during 2019-2026.
For the record, e-commerce logistics is the integration of technology with traditional logistics. These services comprise of preparation, deployment and controlling of goods being transported.
Booming e-commerce industry coupled with increasing cross-border trade activities are major factors driving the growth of e-commerce logistics industry. As per Ecommerce News Organization, the e-commerce sector in UK witnessed a growth rate of 17.8% between 2015 and 2016, while up to 82% internet users purchased products online. Parallelly, an e-commerce company in Canada, Shopify estimated that ecommerce sales surpassed USD 2.3 trillion in 2017. As a result, there has been an upsurge in adoption rates of artificial intelligence and IoT solutions in order to simplify and optimize e-commerce operations, which in turn is further fueling the market size. However, increasing cases of product returns may act as restraining factor the E-commerce logistics industry.
Considering the geographical landscape, North America is estimated to generate significant returns by the year 2026, primarily due to rising incorporation of AI related technologies in E-commerce industry.
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Meanwhile, Asia-Pacific market is anticipated to record a remunerative growth rate through 2026. Increasing cross-border trade activities in countries including Japan, India and China along with rapid expansion of e-commerce industry are stimulating the industry outlook in Asia-Pacific.
S.F. Express, United Parcel Services (UPS) Inc., Fedex Corp., Express Logistics, eCom Express, Deutsche Post DHL, Clipper Logistics, Blue Dart, Australia Post and Aramex are the eminent companies in worldwide e-commerce logistics industry.