Reverse Logistics Market 2021 key Drivers, Business insights, Trends and Applications by 2027
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Although the market size of the market is studied and predicted from 2019 to 2025 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation. The Objective of the "Global Reverse Logistics Market" report is to depict the trends and upcoming for the Reverse Logistics industry over the forecast years.
Reverse Logistics Market report data has been gathered from industry specialists/experts. Although the market size of the market is studied and predicted from 2019 to 2025 mulling over 2018 as the base year of the market study. Attentiveness for the market has increased in recent decades due to development and improvement in the innovation.
Expansion of the e-commerce industry, stringent government rules in the automotive industry increasing product recall, and increased need for reverse logistics in the pharmaceutical industry drive the growth of the reverse logistics market. However, uncertainty in the reverse logistics process and an increase in quality control restrain the growth of the market.
Conversely, the introduction of block-chain technology and rising need for reverse logistics due to increasing e-waste create new opportunities for growth of the market.
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Strict government rules in the automotive industry regarding increasing product recall, expansion of the e-commerce industry, and rise in need for reverse logistics in the pharmaceutical industry have boosted the growth of the global reverse logistics market. However, the surge in quality control and uncertainty in the reverse logistics process hamper the market growth.
On the contrary, the introduction of blockchain technology and increasing need for reverse logistics owing to rise in e-waste are expected to create lucrative opportunities in the coming years.
The global reverse logistics market is divided on the basis of the return type, end-user, and geography. Based on return type, the market is segmented into recalls, commercial returns, repairable returns, end-of-use returns, and end-of-life returns.
The commercial returns segment held the largest share in 2017, contributing about one-third of the total market and is estimated to maintain its dominance through 2025. However, the end-of-life returns segment is expected to grow at the fastest CAGR of 7.0% through 2025.
Commercial returns to be dominant, end-of-life returns to grow the fastest
Among return types, the commercial returns segment grabbed more than one-third of the market share in 2017 and would maintain its revenue lead through 2025. Commercial returns allow the supplier to rectify the mistake such as wrong product delivered, damaged product, and others, and enables a company to increase its revenue by implementing effective reverse logistics process.
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Asia-Pacific to be dominant, LAMEA to exhibit the fastest growth
The market in Asia-Pacific captured more than one-third of the market share in 2017 and is likely to dominate the market through 2025. This is because a majority of the logistics companies have started offering specialized reverse logistics services in this region.
However, LAMEA (Latin America, the Middle East, and Africa) is expected to register the fastest CAGR of 6% from 2018 to 2025. The other regions analyzed in the report include North America and Europe.
Key players of the industry
Delivery-on-time Logistics Pvt. Ltd.
Kintetsu World Express
Reverse Logistics Company
The Deutsche Post AG
United Parcel Service
Yusen Logistics Co. Ltd.
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Driving factors for the market
Expansion of E-commerce industry.
Stringent government rules in automotive industry increasing product recall
Increasing need of reverse logistics in pharmaceutical industry
Market Restraints and Opportunities:
Uncertainty in reverse logistics process.
Increase in Quality control.
Introduction of Block-chain technology.
Rising need of reverse logistics due to increasing e-waste.
Key questions answered in the reverse logistics market research report:
1 What is the growth rate of the Reverse Logistics Market during the forecast period?
2 What will be the global Reverse Logistics Market size from 2018 to 2025?
3 What are the leading manufacturing companies in the Reverse Logistics Market?
4 How the major current trends will shape the market in the future?
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