Retail Logistics Market Size to Garner USD 622 Bn Revenue by 2030

The Global Retail Logistics Market size accounted for USD 231 Billion in 2021 and is estimated to reach USD 622 Billion by 2030.

According to our global retail logistics market forecast, the rapid surge in e-commerce sales is propelling the industry’s growth. Rising digital literacy among customers and the advent of e-commerce have revolutionized the face of retail logistics. Such factors coupled with constant urbanization and dual-income family units are impacting consumer preferences and perspectives across developed and emerging economies. One of the important retail logistics market trends includes advancements in the retailing sector. Furthermore, the growing penetration of smartphones and increasing internet users are supporting the retail logistics market revenue to expand rapidly.

COVID-19 Impact on Global Retail Logistics Market

The ongoing COVID-19 pandemic has made a huge impact on the global economy in three different ways: it has hampered profitability, has directly harmed production and demand, and has depleted sufficient capital and cash flows. The COVID-19 pandemic affects retail logistics companies in the same way. After being completely shut down for over 3 months, the retail industry is struggling to get back on track. Retail, like other consumer industries, is dependent on customer behavior and engagement, and it is struggling to keep up with lockdown-induced changing customer behavior. Retail is struggling from a data shortage in addition to declining revenues.

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Retail Logistics Market Dynamics

Implementation of robotics and robotic process automation in the retail sector has benefited the global retail logistics market value. Robotics will become more accessible and versatile in the coming years, with robots soon capable of picking items from warehouse and store shelves. There will be an increase in another platform-based service known as robot-as-a-service, which will help reduce deployment and maintenance costs. MetraLabs provided one particularly intriguing use case. TORY, their robot with an RFID scanner and navigation system, roams the store at night, scanning RFID items and taking inventory.

Surging demand for digital signage and digital price tags is also expected to boost the retail logistics market revenue. The importance of digital signage solutions has recently increased significantly. Digital price tags, particularly those equipped with technologies such as E Ink, Bluetooth, and NFC, are becoming increasingly popular. Digital signage solutions are a key driver in bringing aspects of e-commerce that customer’s value to the world of bricks-and-mortar retail.

The significant need of consumers for omnichannel logistics solutions will create traction in retail logistics sales. Savvy people are beginning to perceive omnichannel retail experiences from their favorite brands, which means a consistent and seamless experience across channels such as online, mobile, and in-person. If a customer buys something online, for example, the omnichannel model states that the item can be returned to any brick-and-mortar location, irrespective of where it was purchased.

In addition, the advent of big data analytics in the retailing sector is one of the lucrative opportunities for market growth. For retail logistics operations, big data analytics opens up endless possibilities. It assists supply chain professionals in identifying bottlenecks and streamlining the flow of goods/resources throughout the warehouse and supply chain. UPS, for example, was capable of delivering 350,000 more shipments, emit 20,000 tonnes fewer carbon dioxide, and save 10 million gallons of fuel by utilizing big data analytics (via ORION) to optimize routing.

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Worldwide Retail Logistics Market Segmentation

The global retail logistics market has been segmented into type, solution, mode of transport, and region. The type segment is bifurcated into conventional retail logistics and e-commerce retail logistics. Among them, the conventional retail logistics segment achieved a significant retail logistics market share in 2021.

Based on solution, the market is divided into reverse logistics & liquidation, commerce enablement, transportation management, supply chain solutions, and others. In 2021, the supply chain solutions segment generated maximum revenue.

Roadways, airways, waterways, and railways are covered under the mode of transport segment. The roadways mode of transport is expected to lead the market with respect to size.

Retail Logistics Market Regional Overview

The global retail logistics market regional outlook is given as Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among all the regions, the Asia-Pacific region accounted for a leading market share throughout the forecast timeframe from 2022 to 2030. The region’s large consumer base for product lines contributes to the rapid growth of e-commerce services. Furthermore, countries such as India, Japan, China, and Australia are among the leading exporter of goods and account for a significant portion of global retail e-commerce sales. As a result, the continuously growing e-commerce sector in the region is the primary factor driving market growth. However, due to significant growth in the food and beverage industry for online delivery, North America and Europe are the other major revenue contributors to the worldwide retail logistics market.

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Retail Logistics Market Players

Some retail logistics companies covered globally include APL Logistics Ltd, C.H. Robinson Worldwide, A.P. Moller – Maersk, Inc., DSV, DHL International GmbH, FedEx, Nippon Express, Kuehne + Nagel International, United Parcel Service, Schneider, and XPO Logistics, Inc.

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The Global Logistics Automation Market accounted for USD 55 Billion in 2021 and is estimated to reach USD 133 Billion by 2030, with a significant CAGR of 10.7% from 2022 to 2030.

The Global Healthcare Logistics Market accounted for USD 77.9 Billion in 2021 and is expected to reach USD 158.5 Billion by 2030 with a considerable CAGR of 8.3% during the forecast timeframe of 2022 to 2030.

The Global E-Commerce Logistics Market accounted for USD 845 Billion in 2020 with a considerable CAGR of 20% during the forecast period of 2021 to 2028.

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