The global e-commerce fulfillment services market size is anticipated to reach USD 198.62 billion by 2030, growing at a CAGR of 9.5% over the forecast period, according to a new report by Grand View Research, Inc. The rapid penetration of internet services and a resultant rise in the number of online shoppers is the major factor driving the demand for e-commerce fulfillment services worldwide. Consumer expectations with regards to delivery time, shipping speed, and associated costs are changing rapidly. As per the GVR analysis, the major reason for consumers abandoning online shopping carts include delayed shipping. Therefore, established merchants, such as Amazon.com, Inc., have started delivering orders in the shortest turnaround time, in some cases within an hour across large cities.
E-commerce Fulfillment Services Market Report Highlights
- The market is anticipated to witness substantial growth during the forecast period
- The growth is credited to the proliferation of the e-commerce industry, especially in the emerging markets leading to an unprecedented rise in the number of online buyers
- The shipping fulfillment service segment accounted for the largest revenue share in 2021 owing to trade liberalization policies resulting in increased imports and exports of cross-border shipments worldwide
- The clothing and footwear application segment accounted for the largest revenue share in 2021 due to the growing acceptance of western culture and evolving fashion needs of the youth population
- Asia Pacific dominated the global market and is expected to register the fastest CAGR over the forecast period
- This is owing to the growth prospect offered by relatively untapped markets (rural areas & tier 2 cities) in the region
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E-commerce Fulfillment Services Market Report
This has been possible only because of the strategic location and positioning of fulfillment service centers. The growing demand for a shorter delivery period has augmented the need for micro warehouses with a wide geographical presence to ensure the order reaches the end-user in a short period. Picking and bundling play a vital role in fulfilling the rapid delivery demand of customers. In addition, automated packaging and labeling solutions used at fulfillment centers help staff sort, locate, seal, package, and label products in a relatively lesser time, thereby accelerating the delivery process. Over the years, e-commerce fulfillment service companies have gained significant momentum, especially with a rise in the number of e-commerce start-ups and fast-growing Small- & Medium-sized Enterprises (SMEs) worldwide.
These start-ups do not have an established distribution network and robust logistics or transportation infrastructure, owing to which they extensively depend on third-party fulfillment service providers. However, service providers including ShipBob, Inc., ShipMonk, Red Stag Fulfillment, and Radial, among others are now providing a full suite of e-commerce fulfillment services including picking, packaging, warehousing, shipping, and reverse logistics like Amazon.com, Inc. Therefore, the advent of new businesses in the e-commerce market space is anticipated to boost the market growth over the forecast period.
E-commerce Fulfillment Services Market Insights By Region
The Asia Pacific dominated the market and accounted for over 25.9% of the global revenue share. Countries, such as China, Japan, and South Korea, are among the top 10 exporters of merchandise and account for a large portion of global online sales. Thus, the strong growth prospect of the e-commerce industry in the region is the major factor supporting the regional market growth. North America is also projected to exhibit a strong CAGR from 2022 to 2030. The growth is characterized primarily by the presence of key market participants in the region. After China, the U.S. has emerged as the second-largest market for online sales globally, driving the demand for fulfillment services.
Industry Share Analysis By Major Companies
Service portfolio extension remains the premier strategy adopted by the fulfillment service providers. To cater to the growing consumer expectations, the fulfillment services providers are increasingly focusing on shortening the delivery cycle along with providing services, such as click-and-collect services, to avoid delivery charges and ensure easy return and exchange. Some prominent players in the e-commerce fulfillment services market include:
- com, Inc.
- eFulfillment Service, Inc.
- Ingram Micro, Inc.
- Rakuten Super Logistics
- Red Stag Fulfillment
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E-commerce Fulfillment Services Market Segmentation
Grand View Research has segmented the global e-commerce fulfillment services market based on service type, application, and region:
- E-commerce Fulfillment Service Type Outlook (Revenue, USD Million, 2017 – 2030)
- E-commerce Fulfillment Application Outlook (Revenue, USD Million, 2017 – 2030)
- E-commerce Fulfillment Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players of E-commerce Fulfillment Services Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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