Published Date: 30-Jun-2022
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According to a new report, published by KBV research, The Global Reverse Logistics Market size is expected to reach $1796.9 billion by 2028, rising at a market growth of 11.9% CAGR during the forecast period.
The Pharmaceutical segment is showcasing a CAGR of 12.5% during (2022 - 2028). The reverse logistics process in the pharmaceutical sector entails collecting items from customers and categorizing the various components so that they can be disposed of or retrieved at various stages in the supply chain and re-manufacturing process.
The Commercial & B2B Type segment acquired maximum revenue share in the Global Reverse Logistics Market by Return Type in 2021, thereby, achieving a market value of $792.6 Billion by 2028. Returns management needs cautious regulated gathering, transportation, inventory management, quality management, return to availability, and recycling or disposal services of the item to ensure a successful reverse logistics operation. Automation is the only way to reach such precision. As a result, having reliable technology that combines and automates critical business activities is important.
The Replacement Management segment has shown growth rate of 13.2% during (2022 - 2028). Replacement management is the practice of handling short-term or long-term backups in order for organizations to have personnel that can take over essential roles in the event of an emergency. The initial step in a replacement process flow is by identifying every possible query when the consumer requires a product replacement.
The Asia Pacific market dominated the Global Reverse Logistics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $673.4 Billion by 2028. The Europe market is estimated to witness a CAGR of 11.5% during (2022 - 2028). Additionally, The North America market would experience a CAGR of 11.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Deutsche Bahn AG, United Parcel Service, Inc., Core Logistic Private Limited, Kintetsu World Express, Inc., FedEx Corporation, Deutsche Post DHL Group, C.H. Robinson Worldwide, Inc., Yusen Logistics Co., Ltd., Safexpress Pvt. Ltd., and Reverse Logistics GmbH
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