Dropshipping Market is Booming with Integration of AI for Dropshipping Business & Growing E-Commerce Industry by 2027

NEW YORK, UNITED STATES, December 6, 2021 /EINPresswire.com/ -- According to The Insight Partners’ latest market study on "Dropshipping Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Product Type (Toys, Hobby, and DIY; Furniture and Appliances; Food and Personal Care; Electronics and Media; Fashion; and Others), Organization Size (Small & Medium Enterprise and Large Enterprise), Geography," the market was valued at US$ 162.44 billion in 2019 and is projected to reach US$ 591.77 billion by 2027; it is expected to grow at a CAGR of 18.3% from 2020 to 2027.

Market Size Value in - US$ 162.44 Billion in 2019
Market Size Value by - US$ 591.77 Billion by 2027
Growth rate - CAGR of 18.3% from 2020-2027
Forecast Period - 2020-2027
Base Year - 2020
No. of Pages - 142
No. Tables - 56
No. of Charts & Figures - 73
Historical data available - Yes
Segments covered - Product Type, Organization Size, and Geography
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Surging Growth Opportunities in APAC
Demand for dropshipping business model is increasing immensely in various APAC countries, such as India and China. It is one of the cost-effective models for entrepreneurs to start an e-commerce business. It enables an entrepreneur to sell products online without having to carry inventory. E-commerce sales in APAC countries are growing at a rapid pace making it one of the largest industries. For instance, as per IBEF, in 2017, e-commerce sales grew at an annual rate of 51%, making it the biggest opportunity for online retailers.

In India, wholesale might cost businesses more money via the cost of goods and shipping charges. The shipping cost is high since individual entrepreneurs do not have access to government deals. However, dropshipping enables businesses to automate their business in order to focus on tasks that produce revenue. It also saves the cost of goods. With dropshipping, shipping goods can cost less and can sometimes even be free. The platform enables dropshippers in India to sell their products across the globe to grow their businesses quickly. Thus, the growing demand for dropshipping services offers an opportunity for various entrepreneurs in Asian countries to start their business with fewer capital investments in inventory.

Impact of COVID-19 Pandemic on Dropshipping Market
The COVID-19 outbreak has had an adverse impact on the dropshipping market in the North American region. Manufacturers, suppliers, and logistics companies are experiencing disruptions to their operations, which is delaying the products' deliveries. The continuously spreading virus-infected patients in the US has restricted numerous logistics companies to operate normally. The US accounts for the highest number of dropshipping market players in the region, and slower than usual growth during COVID-19 crisis is reflecting downfall in the dropshipping market valuation in 2020.

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The growing e-commerce industry offers several opportunities for selling various quality products such as electronics, food, and personal care and appliances since customers can compare a broad product portfolio, get discounts, and request easy returns. Various e-commerce platforms are acquiring dropshipping service providers to extend their presence in dropshipping business. For instance, Shopify, Inc., an e-commerce company, has acquired Oberlo, a dropshipping service provider. The acquisition allowed Shopify to enhance its position in the dropshipping market. Further, the various e-commerce businesses are expanding their product portfolio in order to offer dropshipping services to wholesalers. Thus, growth of e-commerce industry is boosting the demand for dropshipping.

The e-commerce sector offers a huge platform for shopping, which is increasing at an unprecedented rate across the world. Nowadays, consumers prefer online shopping, as a considerable number of websites are available to choose products from. Moreover, e-commerce platforms also help numerous businesses reach easily to customers, and hence necessary exposure to business is achieved. The sector is propelled by a growing emphasis on online marketing tools, including Google ads and Facebook ads. E-commerce is one of the mature industries in the US, where consumers are highly inclined toward online shopping. According to the Census Bureau of the Department of Commerce, US retail e-commerce sales were US$ 160.3 billion for the first quarter of 2020, an increase of 2.4% from the fourth quarter of 2019. The industry is also popular amongst consumers of all ages in developing countries of APAC, such as India and China.

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