NEW YORK, Nov. 12, 2024 /PRNewswire/ — Report with market evolution powered by AI – The global e-commerce logistics market size is estimated to grow by USD 802.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  28.2%  during the forecast period. Increase in cross-border e-commerce activities is driving market growth, with a trend towards emergence of supermarket mini distribution centers. However, high logistics cost  poses a challenge.Key market players include Agility Public Warehousing Co. K.S.C.P, Aramex International LLC, C H Robinson Worldwide Inc., CMA CGM SA Group, DB Schenker, Deutsche Post AG, dotdigital Group Plc, DSV AS, eStore Logistics, FedEx Corp., Gati Ltd, GXO Logistics Inc., Kenco Group Inc., Kuehne Nagel Management AG, Nippon Express Holdings Inc., Rhenus SE and Co. KG, SF Express Co. Ltd., Sinotrans Ltd, United Parcel Service Inc., and XPO Inc..

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Market Driver

E-commerce logistics is a booming market, driven by the rise of C2C and B2C sales. Suppliers are integrating with supply chain solutions to ensure timely delivery of goods. Technology plays a key role, with business analytics, logistics professionals, and transportation management software streamlining operations. Digital technology, including barcode systems and portable data terminals, enhances efficiency. Cross-border e-commerce activities are surging, fueled by internet penetration and increasing online purchases of everyday essentials, electronics, personal care items, furniture, fashion, and more. SMEs are leveraging e-commerce logistics services to expand their operational areas. Last-mile delivery, drone delivery services, and digital payment methods are transforming the transportation and retailing industries. Logistics companies are investing in hardware technologies like Geographic Information Systems and Global Positioning Systems to optimize routes and reduce fuel prices. Venture capitalists are funding innovation, from mega centers and returns processing centers to third-party logistics providers using a multi-client fulfillment model. The transportation service industry continues to evolve, with rail, road, and air transport adapting to the needs of e-commerce companies. Commodity transport, from wheat to smartphones, is being revolutionized by digitalization and the Internet of Things. 

E-commerce logistics is a critical aspect for retailers and online businesses, as providing efficient and accurate order fulfillment is essential for customer satisfaction and retention. Warehouse picking errors can lead to increased costs due to returns, repackaging, and re-shipping, as well as lost sales and poor customer reviews. The demand for faster delivery times has driven shippers to move storage and manufacturing closer to consumers, transforming brick-and-mortar stores into mini distribution centers. This strategy allows for quicker order processing and reduces the risk of picking errors, ultimately benefiting both the retailer and the customer. 

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 Market Challenges

E-commerce logistics faces several challenges in today’s business landscape. Supplier management is crucial for timely delivery of cargo, requiring effective supply chain solutions. Technology plays a significant role, with business analytics and logistics professionals utilizing digital technology for inventory management, transportation, and warehousing. C2C and B2C e-commerce activities increase the operational area, necessitating freight or rail, maritime, and air transport. Cross-border e-commerce activities are boosted by internet penetration, impacting transportation management software, packaging solutions, and returns processing. SMEs face inventory challenges with shelf life, requiring cloud deployment and workforce management strategies. The transportation service industry is evolving with drone delivery services, digital payment methods, and hardware technologies like IoT, barcode systems, and portable data terminals. Logistics companies seek funding from venture capitalists to navigate challenges like fuel prices and competition from third-party logistics providers. Last-mile delivery, retail order fulfillment, and commodity transport remain key areas of focus for e-commerce companies, with DHL leading the way in online shopping.E-commerce logistics involves direct costs such as transportation, warehousing, and value-added services, and indirect costs including inventory-carrying costs, theft, damages, and losses in transit. Factors like labor shortages and rising fuel prices increase shipping costs. Volatility in crude oil prices significantly impacts transportation expenses, challenging profitability. Meanwhile, customers demand lower rates, creating pricing pressure. Balancing these pressures requires strategic cost management and efficient operations in e-commerce logistics.

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Segment Overview 

This e-commerce logistics market report extensively covers market segmentation by  

Usage 1.1 Domestic1.2 InternationalService 2.1 Transportation2.2 Warehousing2.3 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Domestic-  The domestic segment of the e-commerce logistics market holds the largest market share and is projected to experience substantial growth in terms of revenue compared to the international segment. This growth is attributed to the economic expansion and advancements in e-commerce logistics and inventory management, compelling businesses to invest heavily in this sector to maintain growth and enhance productivity. Additionally, the shift towards digital transformation, cloud deployment, and modernization in workforce management among Small and Medium-sized Enterprises (SMEs) globally, contribute significantly to market expansion. Major players in the e-commerce logistics market are prioritizing operational improvements and overall efficiency to stay competitive, thereby fueling the growth of the domestic segment in the global e-commerce logistics market.

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Research Analysis

The E-Commerce Logistics Market is a critical segment of the supply chain solutions industry, catering to the unique demands of C2C and B2C e-commerce businesses. Leveraging digital technology, this market offers various services such as warehousing, transportation, packaging solutions, and returns processing, ensuring seamless delivery of goods to online buyers. The market is driven by internet penetration and the increasing number of internet users, leading to a boom in e-commerce activities. Everyday essentials, groceries, and cross-border trade are some of the major categories driving the growth of this market. E-commerce logistics services have become essential for online businesses to meet customer expectations for fast and reliable delivery. Rail transportation plays a significant role in the logistics network, offering cost-effective and efficient solutions for moving large volumes of goods. Business analytics and technology are key enablers, providing valuable insights into inventory management, demand forecasting, and supply chain optimization. Logistics professionals are the backbone of the industry, ensuring the smooth flow of goods from suppliers to end customers.

Market Research Overview

The E-Commerce Logistics Market is a dynamic and rapidly growing industry that caters to the supply chain needs of C2C and B2C e-commerce businesses. Technology plays a pivotal role in this sector, with digital technology and business analytics driving operational efficiency and effectiveness. Logistics professionals manage the transportation and warehousing of cargo, ensuring timely delivery and optimal inventory management. E-commerce logistics services encompass cross-border activities, with internet penetration and increasing online businesses fueling growth. Transportation management software, packaging solutions, and digital technologies such as barcode systems, portable data terminals, and Geographic Information Systems are essential tools. SMEs and retailers rely on logistics companies for warehousing, transportation via freight or rail, maritime, and air transport. The market is witnessing innovation with the advent of drone delivery services, digital payment methods, and the Internet of Things. Venture capitalists and funding are driving the digitalization of logistics, with a focus on last-mile delivery and the multi-client fulfillment model. The market includes key segments such as everyday essentials, electronics, personal care items, furniture, fashion, smartphones, and commodity transport. Logistics companies are investing in mega centers and returns processing centers to cater to the growing demand for retail order fulfillment. Fuel prices and geopolitical factors can impact the industry, making it a complex and exciting space to watch.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

UsageDomesticInternationalServiceTransportationWarehousingOthersGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

AKSU, China, Nov. 13, 2024 /PRNewswire/ — State Grid Aksu Power Supply Company has ushered in a new era for regional water resources management by seamlessly integrating data from the Aksu Water Authority into its energy big data center via a dedicated line on November 11. The milestone marks a crucial step towards intelligent and refined water management for the area.

In Aksu, where agriculture serves as the backbone of the local economy, the challenges of water management are compounded by outdated metering systems and poor data quality. In response, State Grid Aksu Power Supply Company has tapped into its extensive electricity consumption data, joining forces with the Aksu Water Authority to develop an innovative water management model that estimates water usage directly from electricity consumption patterns.

The initiative provides a cost-effective solution for irrigation wells, bypassing the high costs and maintenance demands of traditional water metering facilities. The partnership has yielded a comprehensive dual-database system that refines the conversion coefficients between electricity and water, facilitating a more precise approach to water metering. The method not only reduces operational costs but also equips the Water Authority with more robust and detailed data for decision-making.

As it looks to the future, State Grid Aksu Power Supply Company plans to refine these conversion metrics further, expand metering coverage, and enhance its models for estimating water use, ensuring the sustainability of both water resources and the regional ecosystem.

View original content:https://www.prnewswire.com/apac/news-releases/state-grid-aksu-power-supply-company-leads-new-transformation-in-regional-water-resources-management-302303408.html

SOURCE State grid Aksu power supply company

Company to restate Second Quarter 2024 Financial Statements
No impact to Revenues, Cash Flows or Adjusted EBITDA expected for the period affected

ATLANTA, Nov. 12, 2024 /PRNewswire/ — KORE Group Holdings, Inc. (NYSE: KORE) (“KORE” or the “Company”), the global pure-play Internet of Things (“IoT”) hyperscaler, and provider of IoT Connectivity, Solutions and Analytics announced that it expects to restate its second quarter 2024 financial statements and, as a result, is rescheduling the release of the Company’s financial results for the third quarter of 2024 and live webcast to discuss those results from previously scheduled November 13, 2024 at 5PM ET to November 19, 2024 at the same time.

The Company’s management, in consultation with the Audit Committee of the Company’s Board of Directors and in consultation with BDO USA, P.C., the Company’s independent registered public accounting firm, concluded that the Company’s previously issued unaudited condensed consolidated financial statements contained within the Quarterly Report on Form 10-Q for the quarter ended June 30, 2024 should no longer be relied upon due to errors in computing a non-cash goodwill impairment charge. The restatement is not expected to have any impact on the Company’s revenues, cash flows or Adjusted EBITDA for the period affected.

The Company intends to file a Form 10-Q/A for the quarter ended June 30, 2024, which will include restated unaudited condensed consolidated financial statements by November 19, 2024.

KORE will also now release its third quarter 2024 financial results on November 19, 2024, following the U.S. market closing. KORE will also host a live webcast, followed by a question-and-answer period the same day at 5:00 p.m. Eastern time (2:00 p.m. Pacific time) to discuss the financial results. The delay is to allow KORE additional time to complete the review of the financial statements to be included in the Company’s Form 10-Q for the quarter ended September 30, 2024 and to complete the restated financial statements to be included in the Company’s Form 10-Q/A for the quarter ended June 30, 2024.

Date: November 19, 2024
Time: 5:00 p.m. Eastern time (2:00 p.m. Pacific time)
Webcast Event: Link

U.S. dial-in: (877) 407-3039
International dial-in: (215) 268-9922
Conference ID: 13749781

About KORE

KORE is a pioneer, leader, and trusted advisor delivering mission-critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. For more information, visit www.korewireless.com.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to a number of risks and uncertainties, many of which are beyond the control of the Company. These forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) can be identified by the use of forward-looking terminology including “may,” “should,” “could,” “likely,” “will,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “plan,” “intend,” “project,” or other similar words. All statements, other than statements of historical fact included in this earnings release are forward-looking statements. The forward-looking statements include statements regarding the anticipated timing of finalizing KORE’s Form 10-Q for the quarter ended September 30, 2024 and Form 10-Q/A for the quarter ended June 30, 2024, the impact of the restatement of the Company’s financial statements for the quarter ended June 30, 2024, and the timing of the earnings release and webcast. Although we believe that the expectations reflected in such forward-looking statements are reasonable, KORE cannot give any assurance that such expectations will prove correct.

The forward-looking statements in this press release are subject to the risk factors and cautionary language described from time to time in the reports the Company files with the U.S. Securities and Exchange Commission, including those in the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2023 and any updates thereto in the Company’s Quarterly Reports on Form 10-Q. It is not possible for the Company to predict all risks, nor can KORE assess the impact of all factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements speak only as of the date of this press release. Unless required by law, KORE disclaims any obligation to publicly update or revise these statements whether as a result of new information, future events or otherwise.

KORE Investor Contact:
Vik Vijayvergiya
Vice President, IR and Corporate Development
vvijayvergiya@korewireless.com
+1-770-280-0324

KORE Media Contact:
Carla Deisenroth
Vice President, Strategy & Marketing
cdeisenroth@korewireless.com
+1-248-982-2759

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SOURCE KORE Group Holdings, Inc.