On-Demand Logistics Market Expected to Reach $75.0 Billion, Globally, by 2030 | Lalamove EasyVan (Thailand) Co. Ltd., Uber Freight LLC, Deliv Inc., MENA 360 DWC-LLC (Fetchr)

With the rapid growth of the e-commerce industry across the globe, the demand for on-demand logistics services is rising rapidly. The total e-commerce sales around the world accounted for nearly 14% of all global retail sales in 2018, registering a growth of around 15% from 2017. Furthermore, as per industry experts, the share of e-commerce sales will rise to nearly 17% of all retail sales across the world by 2021.

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With the increasing popularity of online shopping and the availability of various e-commerce platforms, the consumer purchasing behavior and their expectations are changing. Nowadays, customers are preferring fast shipping and product deliveries available at affordable prices. This is making delivery schedules very challenging, which is, in turn, augmenting the burden on logistics service providers. Because of this reason, several companies are increasingly adopting on-demand logistics services, which are allowing them to manage inconsistent and irregular shipping requirements.

Additionally, these logistics solutions are allowing e-commerce organizations to manage the sudden demand for bulk supplies and the changing customer preferences. Moreover, these services are very flexible in nature and the organizations are only required to pay for what they need. The service providing agencies either operate their own fleets or are in collaboration with various brokerage teams, who provide vehicles to them. Besides this, these services are available at highly affordable prices.

Due to their various benefits, the on-demand logistics services are increasingly being adopted by organizations for delivering products to their customers. This is causing the boom of the global on-demand logistics market. As a result, the market is predicted to witness its valuation rise from $9.1 billion to $75.0 billion from 2019 to 2030. Furthermore, the market is expected to progress at a CAGR of 21.1% from 2020 to 2030.

Depending on vehicle type, the on-demand logistics market is divided into medium/heavy commercial vehicle (M/HCV) and light commercial vehicle (LCV) categories. Between the two, the M/HCV category is predicted to exhibit faster growth in the market in the coming years. This would be because of the rising usage of on-demand logistics services by large organizations all over the world for shipping heavier goods in huge volumes and reducing their operational costs.

Geographically, the Asia-Pacific (APAC) region and North America will account for more than 80% share in the market in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. However, the on-demand logistics market would demonstrate the fastest growth in the APAC region in the future. This would be a result of the expanding consumer base in India and China, which are two of the most populous countries in the region.

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Hence, it can be said with complete conviction that the popularity of on-demand logistics services would shoot-up all over the world in the upcoming years, primarily because of the rising requirement for affordable, convenient, and better logistics services by e-commerce companies around the world.

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This release was published on openPR.