Retail Logistics Market Size Is Projected To Reach USD 626.59 Billion By 2030

 San Francisco, 30 May 2024: The Report Retail Logistics Market Size, Share & Trends Analysis Report By Type (Conventional Retail Logistics, E-commerce Retail Logistics), By Solution, By Mode Of Transport, By Region, And Segment Forecasts, 2023 - 2030

The global retail logistics market size is anticipated to reach USD 626.59 billion by 2030, registering a CAGR of 12.5% over the forecast period, according to a new report by Grand View Research, Inc. The growth is likely to be driven by new last-mile delivery methods, such as the introduction of the Internet of Things (IoT), the use of data analytics, and urban warehousing, among others, in the supply chain.

An IoT-based supply chain connects much technical equipment using sensors, allowing for real-time data collecting on critical aspects such as filing rate and temperature. IoT-based supply chain solutions also provide merchants with unprecedented inventory control and accuracy. IoT sensors integrated into warehouses and storage facilities continually check stock levels, initiating replenishment orders automatically when specific criteria are achieved. This data-driven strategy reduces stockouts and overstocks while optimizing inventory levels and lowering carrying costs.

Customers can also benefit from technical improvements such as intelligent distribution robots and automated sorting systems, ushering in a new era of smart logistics. Key firms can comprehend the genuine demands of customers faster and more accurately owing to t the majority of the links in the new retail format that have been digitalized and are readily available in real-time, combined with the usage of new technologies such as machine learning (ML), big data, and artificial intelligence (AI).

Moreover, AI and ML algorithms may improve logistics planning in various ways, including route planning, fleet management, and delivery scheduling. AI-powered systems construct optimal delivery routes by considering elements such as traffic conditions, delivery time windows, and vehicle capacity, lowering transportation costs and enhancing operational efficiency. Advanced AI algorithms may also optimize resource allocation, such as warehouses, labor, and transportation, to simplify operations and satisfy consumer needs cost-effectively.

To update existing retail formats, retail firms and traditional distribution channels should focus on B2C e-commerce, self-service vending machines, B2B wholesale distribution, and O2O. Additionally, factors such as growing globalization, an increase in international retailing, and an improvement in the economy owing to the increasing tax-generated revenue from the goods imported and exported are expected to assist the industry's growth in the coming years.

The rapid expansion of retail e-commerce has opened up several new opportunities for new and prominent players in the market. However, retail e-commerce is facing several financial and operational issues in recent years. Return shipments are becoming a more common element of logistics processes, thus posing operational issues and the potential to minimize logistic-related costs. Moreover, poor infrastructure can hinder the market’s growth by making market participants hesitant to spend and expand.

Access Research Report of Retail Logistics Market @ https://www.grandviewresearch.com/industry-analysis/retail-logistics-market

Retail Logistics Market Report Highlights

• Due to rising internet penetration and increased worldwide trade activities, the retail logistics industry is expected to develop significantly during the projected period
• The conventional retail logistics segment held a substantial market share in 2022, due to the growing preference of customers; who relied less on the Internet and favored shopping in traditional brick-and-mortar stores
• The supply chain solution segment accounted for a notable market share in 2022 as a result of the increased adoption of cloud-based solutions in supply chain management. These solutions enabled retail companies to effectively track and optimize transportation as well as efficiently manage returns
• The roadways segment emerged as the dominant market player in 2022 within the mode of transport segment. This can be attributed to the rising demand for road vehicles in the transportation of retail products over long distances, especially within domestic regions
• In terms of regional share, the Asia Pacific region led the market in 2022 and is projected to grow significantly during the forecast period. The presence of a significant consumer base for retail items is accelerating the expansion in the region
• The leading market players’ principal strategies consist of partnerships & collaborations, mergers & acquisitions, and expansions among others. For instance, in October 2022, Boohoo Group plc, a UK-based fashion retailer with annual sales exceeding $2.4 billion, selected DHL Supply Chain, a contract logistics firm and a subsidiary of Deutsche Post DHL Group based out in Germany, to oversee its inaugural distribution center in the United States. DHL Supply Chain will offer warehousing solutions to support Boohoo's anticipated expansion in the US market.

Retail Logistics Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 274.31 billion
Revenue forecast in 2030	USD 626.59 billion
Growth rate	CAGR of 12.5% from 2023 to 2030
Base year for estimation	2022
Historical data	2017 - 2021
Forecast period	2023 - 2030

List of Key Players in the Retail Logistics Market

• XPO Logistics, Inc.
• DSV
• Kuehne + Nagel International
• H. Robinson Worldwide, Inc.
• Nippon Express
• FedEx
• Schneider
• United Parcel Service
• APL Logistics Ltd
• DHL International GmbH
• P. Moller - Maersk

Access Press Release of Retail Logistics Market @ https://www.grandviewresearch.com/press-release/global-retail-logistics-market