The thriving e-commerce industry is one of the major factors fuelling the soaring adoption of on-demand logistics solutions all over the world. The share of global e-commerce sales increased by almost 15% from 2017 to 2018. Moreover, the share of the total sales in the global e-commerce industry was found to be nearly 14% of all the retail sales across the world. Furthermore, it is expected that that the e-commerce sales will account for approximately 17% of all the retail sales around the world 2021.
Due to the above-mentioned reasons, the value of the global on-demand logistics market is predicted to increase from $9.1 billion to more than $75.0 billion from 2019 to 2030. The market is predicted to progress at a CAGR of 21.1% during the forecast period (2020—2030). On-demand logistics solutions are widely adopted in peer to peer delivery, moving and shifting, industrial, and e-commerce applications across the globe. Out of these, the adoption of on-demand logistics services and solutions was found to be the highest in the e-commerce applications in 2019.
The increasing inflow of huge investments is one of the key trends currently being witnessed in the on-demand logistics market. There has been a huge rise in the number of start-ups operating in the market over the last few years. A majority of these start-ups are receiving huge funding from various venture capitalists for expanding their operations and businesses across the world. For example, Lalamove, an on-demand logistics providing company based in Hong Kong, received an investment worth $300 million in series D round, as the company aims to expand its operations across Asia-Pacific (APAC).
Therefore, it can be said with surety that the demand for on-demand logistics solutions will escalate throughout the world over the next several years, mainly because of the booming e-commerce industry, rising popularity of online shopping, and increasing requirement of faster shipping and delivery times by the consumers.