According to a recent report published by Allied Market Research, titled, “Reverse Logistics Market by Return Type, End-User, and Service: Global Opportunity Analysis and Industry Forecast, 2021–2028,” The global reverse logistics market was valued at $635.6 Billion in 2020, and is projected to reach $958.3 Billion by 2028, registering a CAGR of 5.6% from 2021 to 2028.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/5191
By return type, the reverse logistics market is categorized into the recalls, commercial returns and B2B returns, repairable returns, end of use returns, and end of life returns. The commercial returns segment accounted for the highest revenue in 2020, owing to the increase in adoption of reverse logistics by various manufacturers. The rise in demand for efficient reverse logistics services in the remote areas further increases the demand for commercial return reverse logistics segment around the world. Evolution of reverse logistics solutions such as IoT based reverse logistics services, automation of reverse logistics, and other technologies improves the agility of reverse logistics services. The rising global e-commerce market stimulates the growth of commercial returns necessitating the need for an effective reverse logistics services.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/reverse-logistics-market/purchase-options
Based on end user, the reverse logistics market is segregated into e-commerce, automotive, pharmaceutical, consumer electronic, retail, luxury goods, and reusable packaging. In 2020, the e-commerce segment dominated the end-user segment, owing to rising consumer spending in developing and developed nations, as well as increased investment in transportation infrastructure around the world.
The expansion of e-commerce industry, increased product recall due to stringent government rules for product quality in the automotive industry, and rise of tech-driven reverse logistics services and growing adoption of IoT-enabled connected devices, are expected to drive the global reverse logistics market growth over the forecast period. However, lack of control of manufacturers on reverse logistics service and uncertainty in the reverse logistics process is anticipated to hamper the growth of the market during the forecast period. Moreover, introduction of Blockchain technology and reduction in losses owing to adoption of a multi-modal system is expected to offer lucrative opportunities for the market in the future.
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Key players operating in the global reverse logistics market include C.H. Robinson Worldwide, Inc., CCR Logistics Systems AG, Core Logistic Private Limited, DB Schenker, Deutsche Post DHL Group, FedEx Corporation, Kintetsu World Express, Inc., Safexpress Pvt. Ltd., United Parcel Service, Inc., and Yusen Logistics Co., Ltd.
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