E-commerce logistics market to grow 19.9% ​​in 2021 and mature in 2026

According to the latest data from Transport Intelligence (Ti) , Asia-Pacific remains the world's largest e-commerce logistics market in 2021 , followed by North America and Europe.

However, Ti predicts that by 2026, North America will become the world's largest e-commerce logistics market, with the United States , Canada and Mexico having a compound annual growth rate from 2021 to 2026 higher than the global average.

Growth in the Asia-Pacific region is expected to be affected by the slowdown in the CAGR of China and South Korea from 2021 to 2026 , which is lower than the global average and the regional average of 6.7%. Online retail sales in China and South Korea account for 28.0% and 24.5% of total sales respectively , and the market is becoming more mature .

Meanwhile , the price war for logistics parcels in the domestic markets of China and South Korea has also slowed down the overall growth level to a certain extent . However , thanks to their large user base of e-commerce shoppers , China and South Korea will still be one of the largest e-commerce logistics markets in the world.

A similar situation may occur in the UK e-commerce market . According to the UK Office for National Statistics, online sales accounted for 26.6% of total retail sales as of December 2021. It is expected that the UK e-commerce logistics market will be affected by Brexit in the next five years , but it will still maintain its position as the world's third largest e-commerce logistics market after the United States and China.

Ti's research also shows for the first time the growth of the developing cross-border e-commerce logistics market . The market is expected to grow at a compound annual growth rate of 10.65% from 2021 to 2026. This growth trend is expected to continue as consumers seek luxury goods that are not available in their home countries . However, resistance still exists, especially in terms of tax and customs regimes concerning cross-border.

The new report also highlights how the e-commerce logistics market is segmented between e-fulfillment and last-mile delivery services . In 2021, the global e-fulfillment market was valued at € 235.42 billion, accounting for 46.8% of the total market value , while the last-mile market was valued at €253.1 billion, accounting for the remaining 53.2%.

The report also takes a deep dive into the e-fulfillment market, highlighting the structural changes that have taken place since the start of the pandemic , showing how fulfillment service providers ( from LSPs to software providers ) are expanding their service offerings to capture more of the e-commerce value chain.

Michael Clover, head of business development at Transport Intelligence, said : “ E-commerce is one of the key drivers of rapid growth in the logistics industry in 2021 , with some individual service providers experiencing explosive revenue growth . ”

Since 2020, the special conditions created by the epidemic for the development of e-commerce have gradually recovered , and the industry's growth has stabilized, but the growth is still higher than the pre -epidemic level. It is expected that by 2026 , the market will reach a mature level , and the online retail penetration level will remain between 25-30% .

logistics

Cross-border e-commerce market