Press release
On-Demand Logistics Market to Register 21.1% CAGR during 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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Under the application segment, the market is categorized into industrial, e-commerce, peer-to-peer delivery, and moving and shifting. Among these, the largest share, in 2019, was held by the e-commerce category, as several firms in the sector, including Walmart Inc., Amazon.com Inc.,and Flipkart Online Services Pvt.Ltd., are turning to on-demand logistics to meet the growing online ordersof various products. The expanding e-commerce industry itself is one of the major growth drivers for theon-demand logistics market.
The key reason behind the progress of the on-demand logistics market is the cost-effectiveness and convenience of shipping that this model offers.
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A number of companies aren’t able to ship products in a consistent volume, owing to cost, production, and demand constraints, which leads to the non-feasibility of long-term logistics agreements. On-demand logistics helps businesses by not binding them in a contract and only charging them for the products they ship at a particular time.
Additionally, such service providers are also able to handle a sudden increase in the shipping volume.
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The market is also growing on account of the increasing efficiency of trucks, which are the preferred mode for high-volume terrestrial product transportation. In conventional logistics, after delivering the goods, trucks often return empty, which leads to wastage of fuel and extra operational costs for Service providers.
Additionally, a broker liaisons between the shipper and customer, for which the charges can be as high as 18% of the shipment cost. As on-demand logistics helps deal with all such challenges, companies are rapidly embracing this concept.
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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