On-Demand Logistics Market to Grow to $75.0 billion by 2030

The major drivers for the on-demand logistics market are the increasing efficiency of product transportation by trucks, convenience, cost-effectiveness and real-time tracking advantages offered by this model, and expanding e-commerce sector. From $9.1 billion in 2019, the market revenue is expected to massively rise to $75.0 billion by 2030, at a 21.1% CAGR during the forecast period (2020-2030). On-demand logistics refers to the communication between end users and shippers via online platforms, which also provide additional features, such as global positioning system (GPS)-based vehicle tracking, time scheduling, and order booking.

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Based on vehicle type, the market is bifurcated into medium/heavy commercial vehicle (M/HCV) and light commercial vehicle (LCV). Of these, LCVs led the on-demand logistics marketin 2019, as a large number of service providers use these vehicles for last-mile delivery, in cases that do not involve the transportation of heavy goods.During the forecast period, the M/HCV bifurcation would grow faster, as shipping firms are purchasing them to transport heavy stuff for large businesses, which are looking at high-volume goods transportation to reduce their costs.

From 2017, the share of e-commerce in the global retail sales grew by 15% in 2018, and it is projected to further increase to 17% by 2021.The major reason behind it is that online shopping platforms offer customers utmost convenience, by giving them lucrative deals on products that can be delivered swiftly. Apart from the increasing number of online shoppers, their preference for and expectations of timely delivery and competitive pricing are also rising. As traditional shippers face challenges in the wake of these developments, companies are changing their strategies.

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Geographically, North America held the largest revenue share in the on-demand logistics market in 2019, as trucks conduct almost 70% of all product transportation in the U.S. Additionally, the region faces a considerable shortage of drivers, which becomes a problem when the orders suddenly increase. This is leading to the shift in companies' preference to a more-efficient goods transportation model, thereby driving the market. During the forecast period, the highest CAGR would be experienced by Asia-Pacific (APAC), owing to the rising e-commerce sales and consumer awareness regarding the concept.

Competitive Landscape of On-Demand Logistics Market

The on-demand logistics market is still in its nascent phase with key players, including Lalamove EasyVan (Thailand) Co. Ltd., Uber Freight LLC, Deliv Inc., MENA 360 DWC-LLC (Fetchr), Shadowfax Technologies Pvt. Ltd., Deliveree (Thailand) Co. Ltd., Bringg Delivery Technologies Ltd., Shippify Inc., Stuart Delivery Ltd. (STUART), and GoGo Tech Ltd. (GoGoVan).

Market Size Breakdown by Segment

The on-demand logistics market report offers comprehensive market segmentation analysis along with market estimation for the period 2018-2030.

Based on Vehicle Type

Light Commercial Vehicle (LCV)
Medium/Heavy Commercial Vehicle (M/HCV)
Based on End Use

Business to Business (B2B)
Business to Customer (B2C)
Based on Application

E-Commerce
Industrial
Moving and Shifting
Peer to Peer Delivery

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This release was published on openPR.