The South Korea E-Commerce Logistics Market is growing owing to Growth in Online Shoppers along with Introduction of New Age Technologies by Logistics Players: Ken Research

The South Korea E-Commerce Logistics Market is growing owing to Growth in Online Shoppers along with Introduction of New Age Technologies by Logistics Players: Ken Research

Focus on initiatives by the government, good logistics infrastructure and high spending potential of the consumers are major factor contributing towards development of E-Commerce Logistics Market in South Korea.

Increase in Internet and Online Buyer Base: Internet Penetration in South Korea has reached 93% in 2021 owing to high share of young population. Increasing usage of advanced mobile applications for the customers has made it easier for them to shop online, which further intensified the e-commerce logistics market in the South Korea.

3PLPs are in a booming growth stage: Korea makes full use of its advantages such as small land size, higher degree of logistics distribution socialization make Korean Third-Party Logistics in a booming growth stage. In terms of components of third-party logistics, in advanced countries the industry covers everything from order form handling to logistics information management and it enjoys a large service scope, such as price negotiation, circulation processing and so on.

All logistics are based on economies of scale: The growth engine of e-commerce logistics is inevitably developed in conjunction with e-commerce order volume. This is the background that led the development of logistics by e-commerce platform companies that extract huge orders by themselves. In addition, the density of e-commerce orders is also an important indicator of logistics efficiency. A high order density is essential to create a performance metric represented by order throughput per hour, and to achieve high density, you must increase the size of orders by region.

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Consumer's privacy and Fraudulent purchases: Consumers privacy as they trust them with not only basic information like contact numbers and addresses but also bank details. The risks of data breach have increased as a result of e-commerce logistics. And fraudulent purchases or cash on delivery transactions increase online retailers' concerns because customers may reject their purchases, resulting in revenue loss for the companies.

Analysts at Ken Research in their latest publication South Korea E-commerce Logistics Industry Outlook to 2026F- Driven by Growth in Online Shoppers along with Introduction of New Age Technologies by Logistics Players by Ken Research observed that E-Commerce Logistic market is an emergent Logistic market in South Korea at a growing stage from the economic crisis after pandemic. The Merger, acquisition and key investment, increase in number of warehouses along with online shoppers buying behavior is expected to contribute to the market growth over the forecast period. The market is expected to grow at a 4.7% CAGR during 2021-2026F owing to rising demand of same day delivery and favorable government regulations for South Korea e-commerce logistics market.

For more insights on the market intelligence, refer to the link below: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/south-korea-e-commerce-logistics-market-outlook-to-2026/596201-100.html

Key Segments Covered in the report: -
South Korea E-Commerce Logistics Market
By Delivery Period (By number of shipments in %), 2021 & 2026F
• Same Day
• 1 -2 Days
• 2-4 Days
• More than 4 days

By Volumetric Weight (By number of shipments in %), 2021 & 2026F
• KG
• 1-2 KG
• 2-5 KG
• 5-10 KG
• Greater than 10 KG

By Types of Shipment (By number of shipments in %), 2021 & 2026F
• Domestic Shipments
• International Shipments

By Delivery area (By number of shipments in %), 2021 & 2026F
• Intercity
• Interacity

By Mode of Shipment (By number of shipments in %), 2021 & 2026F
• Ground
• Air
• Water

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By Online Sales (By number of shipments in %), 2021 & 2026F
• Mobile
• Desktop

By Types of Company (By number of shipments in %), 2021 & 2026F
• 3PL
• Captive

By Type of Commerce (By number of shipments in %), 2021
• B2C Commerce
• B2B Commerce

By Modes of Payment (By number of shipments in %), 2021 & 2026F
• Prepaid (Credit Cards, etc.)
• Cash on Delivery (COD)

By Accepted & Returned Products (By number of shipments in %), 2021
• For Prepaid, Accepted Products
• For Prepaid, Returned Products

By Modes of Payment (By number of shipments in %), 2021 & 2026F
• E-wallet (Kakao pay, Naver Pay,Samsung Pay,Toss,Payco etc.)
• Local cards
• Bank transfer (direct & virtual)
• International Cards (VISA, Master, Amex, Union Pay)
• Cash on Delivery
• Other (phone carrier billing, e.g., SKT, KT, LG U+, etc.)

By Product Category (By number of shipments in %), 2021 & 2026F
• Food and Beverages products
• Food delivery
• Home appliances/electronics/communication devices
• Travel and transportation services
• Household goods
• Others

Key Target Audience
• E-Commerce Companies aiming to establish in USA
• USA E-Commerce logistics industries
• Government Bodies & Regulating Authorities
• E-Commerce Industry
• Logistics industry
• Shipping company
• Warehousing Companies
• E-Commerce users
• Industry Associations

Time Period Captured in the Report:
• Historical Period: 2018-2021
• Base Period: 2021
• Forecast Period: 2021-2026F

Companies Covered:
• CJ Logistics (NAVER)
• Coupang
• Wemakeprice
• Mesh Korea
• Lotte Global Logistics Center
• Hanjin
• Pantos
• Sebang

Key Topics Covered in the Report
South Korea E-commerce Market Overview
South Korea E-commerce Logistics Market Overview
Business Cycle and Genesis of South Korea E-commerce Logistics Market
Value Chain of South Korea E-commerce Logistics Market
Ecosystem: South Korea E-commerce Logistics Market
Timeline of South Korea E-commerce Logistics Market
South Korea E-commerce Logistics Market Size
South Korea E-Commerce Logistics Market Segmentation
Overview of E-commerce Warehousing Sector in South Korea
Government Initiatives and Bodies
SWOT Analysis of South Korea E-commerce Logistics Market
Growth Drivers of South Korea E-commerce Logistics Market
Challenges of South Korea E-commerce Logistics Market
Key Trends in South Korea E-commerce Logistics Market
End User Analysis
Covid-19 Impact on the South Korea E-Commerce Logistics Market
Future Outlook to South Korea E-Commerce Logistics Market
Competition Analysis: Market Share of E-Commerce Logistics Players in South Korea
Cross Comparison of Major E-Commerce Players
Cross Comparison of Major Logistics Players
Analyst Recommendation

Related Reports by Ken Research: -
https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/australia-e-commerce-logistics-market-outlook-to-2026/596190-100.html

https://www.kenresearch.com/automotive-transportation-and-warehousing/logistics-and-shipping/germany-e-commerce-logistics-market-outlook-to-2026/596100-100.html

Ken Research Pvt. Ltd.

Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.