Overview
E commerce logistics is the backbone of the digital economy, with a projected global value of $544.4 billion by 2027, growing at a CAGR of 21.3% from 2020 to 2027, according to a report by Grand View Research. The rise of e-commerce giants like Amazon, with its 1-2 day shipping promise, has set a new standard for logistics and shipping. However, this has also led to increased competition, with companies like Shopify and Walmart investing heavily in their logistics infrastructure. The COVID-19 pandemic has further accelerated the growth of e-commerce, with online sales increasing by 14.9% in 2020, according to the US Census Bureau. As the industry continues to evolve, companies are turning to innovative solutions like drone delivery, autonomous vehicles, and AI-powered supply chain management to stay ahead of the curve. With the likes of DHL, UPS, and FedEx dominating the market, new players like Deliv and Instacart are disrupting the status quo, offering same-day delivery and hyper-local logistics services, with Deliv reporting a 20% increase in demand for same-day delivery in 2020.
Key Facts
- Year
- 2020
- Origin
- USA
- Category
- E Commerce
- Type
- Industry