E-commerce Fulfillment Services Market Size, Share & Trends Analysis Report By Service Type (Bundling, Shipping, Fulfillment Services), By Application (Consumer Electronics, Clothing & Footwear), And Segment Forecasts, 2022 - 2030
E-commerce Fulfillment Services Market Growth & Trends
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.
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 Report Highlights
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