The World’s Fastest Growing E-Commerce Logistics Market
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2020 was a challenging year for the retail industry. At the same time, however, the pandemic pushed e-commerce sales to reach unprecedented heights in 2020. Worldwide e-commerce sales have reached $4.280 trillion, a 27.6% increase from the previous year.
Along with the accelerated growth in e-commerce, the e-commerce logistics market also experienced a phenomenal rise. According to Transport Intelligence’s Global e-commerce Logistics 2021 Report, the global e-commerce logistics market grew to €368 billion, a 27.3% jump from the previous year.
So which regions accounted for the biggest growth throughout 2020? Let’s take a look!
Asia-Pacific had the Slowest E-Commerce Growth but had the Biggest Market Size
While the growth in Asia-Pacific ranked last, the region was the largest e-commerce logistics market in 2020, amounting to 41.55% of the world’s e-commerce logistics market. Last year, the region reached new heights with $2.448 trillion in retail e-commerce sales. The APAC market was mostly dominated by China, the world’s largest e-commerce market with e-commerce giants such as Alibaba and JD.com.
In 2020, Sub-Saharan Africa’s e-commerce logistics market saw the most growth compared to the other regions. Although South Africa’s share of digital shoppers only accounted for 57.7% of internet users; lower than the global average of 77%, its e-commerce market seems to be showing promising growth. The most popular e-commerce marketplace in the region, Jumia, reported a 50% increase in transactions in the first half of 2020.
Regions by Market Growth YoY (2020)
#1 Sub-Saharan Africa: 36.3% Market Growth YoY (2020)
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