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The retail logistics market was USD 540.83 Billion in 2022 and is expected to register a rapid revenue CAGR of 7% during the forecast period.

NEW YORK CITY, U.S., UNITED STATES, June 13, 2023/EINPresswire.com/ -- The retail logistics market reached a value of USD 540.83 Billion in 2022 and is projected to experience a rapid compound annual growth rate (CAGR) of 7% throughout the forecast period.

The primary drivers of market revenue growth are the increasing adoption of e-commerce and the growing demand for supply chain and logistics services within the retail sector. The surge in online shopping has created a necessity for efficient logistics and warehousing systems to meet the rising demand for home delivery services.

Furthermore, retailers' need to optimize their supply chain processes and reduce expenses has led to the implementation of advanced technologies in logistics and supply chain management. These technologies include automation, Artificial Intelligence (AI), and blockchain. By leveraging these tools, merchants can enhance operational speed, accuracy, and efficiency, resulting in improved customer satisfaction and reduced costs.

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Retail Logistics Market Segments:

The Retail Logistics Market Report encompasses the following details:

Market size value in 2022: The market was valued at USD 540.83 Billion.

CAGR (2022 - 2032): The compound annual growth rate projected for the period is 10.3%.

Revenue forecast in 2032: The market is expected to reach USD 994.29 Billion by 2032.

Base year for estimation: The estimation is based on the year 2022.

Historical data: Historical data is available for the years 2020-2021.

Forecast period: The forecast period spans from 2022 to 2032.

Quantitative units: Revenue is measured in USD Billion.

Report coverage: The report includes revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends.

Segments covered: The report analyzes the market based on Type Outlook, Solution Outlook, Mode of Transport Outlook, and Regional Outlook.

By Type Outlook: The analysis includes Conventional Retail Logistics and E-commerce Retail Logistics.

By Solution Outlook: The report covers Commerce Enablement, Supply Chain Solutions, Reverse Logistics & Liquidation, Transportation Management, and Others.

By Mode of Transport Outlook: The market is assessed in terms of Railways, Airways, Roadways, and Waterways.

Regional scope: The report focuses on North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa regions.

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Retail Logistics Market Strategic Developments:

On 7th February 2022, Amazon announced a partnership with Green Mountain Power, an electric utility company in Vermont, to use a fleet of electric delivery vans to deliver products to customers. This partnership aims to reduce carbon emissions and helps in creating a sustainable logistics system.
On 3rd November 2021, DHL International GmbH launched its digital platform, MySupplyChain, which uses AI and ML to provide end-to-end supply chain visibility and control to its customers. This platform aims to provide faster and more efficient logistics services to the retail industry.

Retail Logistics Market Competitive landscape:

The global retail logistics market report highlights several prominent companies operating in the industry. These companies include:

Amazon
United Parcel Service (UPS)
FedEx Corporation
DHL International GmbH
XPO Logistics, Inc.
Kuehne + Nagel International AG
Damco
CEVA Logistics
TNT Holdings B.V.
J.B. Hunt Transport Services, Inc.

These companies play a significant role in the retail logistics market and contribute to its competitive landscape.

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