E-commerce Logistics Market Size, Share & Trends Analysis growing at a CAGR of 22.3% from 2024 to 2030
The global e-commerce logistics market size was estimated at USD 373,368.0 million in 2023 and is projected to reach USD 1,526,420.2 million by 2030, growing at a CAGR of 22.3% from 2024 to 2030. E-commerce logistics involves the provision of services such as warehousing, transportation, value-added services, and packaging services.
Key Market Trends & Insights
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, Italy is expected to register the highest CAGR from 2024 to 2030.
- In terms of segment, transportation accounted for a revenue of USD 262,839.4 million in 2023.
- Transportation is the most lucrative service type segment registering the fastest growth during the forecast period.
Market Size & Forecast
- 2023 Market Size: USD 373,368.0 Million
- 2030 Projected Market Size: USD 1,526,420.2 Million
- CAGR (2024-2030): 22.3%
- Asia Pacific: Largest market in 2023
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The demand for e-commerce logistics has increased across a wide range of applications due to the growth of digital technologies. Increasing cross-border e-commerce and the rising number of internet users, particularly in developing countries, are the major drivers of online business.
Instead of visiting a physical store, individuals are increasingly using e-commerce websites to buy products ranging from groceries to gadgets, personal care products, furniture, and clothing. The market is anticipated to expand significantly over the forecast period as a result of rising smartphone penetration, drone delivery, digitization, and digital payments. The increasing adoption of hardware technologies such as the Internet of Things (IoT), barcode technologies, portable data terminal, GIS, and GPS further drives the industry’s growth.
The E-commerce logistics market has a huge scope for expansion. To realize this potential, venture capitalists (VC) across the globe are funding e-commerce logistics startups on a large scale. The Asian startup Lalamove received USD 1.5 billion in January 2021, and the Indonesian company J&T Express received USD 2.5 billion in venture capitalists (VC) funding. On-demand (rapid) delivery sector has seen significant inflows of funds as compared to other categories owing to the growing consumer demand for the quickest delivery.
