The U.S. Retail Logistics Market size is estimated to reach USD 109.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.0% from 2022 to 2030. Retail logistics is a system in which a company provides logistics services to retail businesses in need of distribution and inventory management. A retail logistics company provides services, including inventory management, packaging, cross-docking, and door-to-door delivery. The rapid growth of the global e-commerce sector and the development of new technologies drive the demand for logistics services.
The supply chain solutions segment held about 35.98%
of the market share in 2021 and also is anticipated to register the fastest
growth during the forecast period. The supply chain enables on-time delivery,
optimizes omnichannel operations, personalizes kitting and order fulfillment,
and effectively processes customer returns. It also enables fast direct-to-consumer
and direct-to-store shipping, which improves warehouse efficiencies as well as
optimizes inventory.
The ongoing COVID-19 pandemic has taken a severe toll
on the global economy in majorly three ways: suppressing profitability,
directly affecting production and demand, and drying up financial reserves and
cash flows. Retail logistics companies are equally affected by the COVID-19
pandemic. The industry suffered a minor setback during the initial phases (Q1
and Q2) of the pandemic due to a shortage of labor and supply chain
disruptions. Later, with consumers avoiding in-store purchases and preferring
online shopping, the increase in online orders did put an unprecedented strain
on retail logistics companies' transportation and logistics services.
Key industry participants are FedEx International, A.P
Moller-Maersk, DSV, and DHL International GmbH. These companies are focusing on
new product development, which helps in strengthening their global market
presence. For instance, in August 2020, APL Logistics Ltd announced the launch
of a suite of products to measure, manage, and mitigate GHG emissions in the
shipping and logistics sector. Under the product suite, the company planned to
measure greenhouse emissions, suggest efficient ways to mitigate emissions, and
offset the remaining carbon liability through its partnership with verified
carbon offset projects. Additionally, market players are continually investing
in R&D to develop differentiated products and stay ahead of the
competition.
Related Press Release@ U.S. Retail Logistics Market Report
U.S. Retail Logistics Market
Report Highlights
- The market for U.S. retail logistics is anticipated to witness
substantial growth during the forecast period due to escalating demand for
e-commerce across the globe
- Based on type, the conventional retail logistics segment dominated
the market with over 57% of the total market in 2021
- The roadways segment held the largest market share of 53.2% in 2021
owing to the increased emphasis on logistics infrastructure and the
growing public-private partnerships model. The high share is attributable
to the growing demand for roadways vehicles in the long-distance
transportation of retail products, especially in domestic regions
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com