Customers of the e-commerce sector are preferring fast shipping with competitive pricing, on account of their changing shopping patterns and expectations. This demanding delivery schedule challenges traditional logistics by creating the demand forsame-day delivery,therebyimpellinge-commerce companies to update their business strategies. Several such companies are therefore opting for on-demand logistics services to manage the inconsistencies inshipping activities, preference of customers, and sudden need for bulk supply. Thus, the widening customer base will propel the on-demand logistics market at a CAGR of 21.1% during 2020–2030.
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According to P&S Intelligence, the market stood at $9.1 billion in 2019, and it is expected to surpass $75.0 billion by 2030, on account of the rapid adoption of smartphones and penetration of the internet in emerging economies. Owing to these factors, developing countries are witnessing a surge in online shopping activities, which has led to the increasing adoption of on-demand logistics services. Moreover, the rising industrialization andurbanization rates and household income in such nations will amplify the online customer spending. The rising expenditure will ease the current logistical challenges, such as low vehicleusage rate, low profitability, and fewer bookings.
In the coming years, North America and Asia-Pacific (APAC) will collectively dominate the on-demand logistics market. However, APAC is expected to be the fastest adopter of such services due to the existence of a large consumer base in India and China. Additionally, the rising customer awareness about more-convenient logistics options, growinge-commerce industry on account of the increasing usage of the internet and smartphones, and surging technological enhancements will accelerate the utilization of on-demand logistics services in APAC.
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Thus, the flexibility and cost-effectiveness of on-demand logistics services will increase their adoption in the coming years.