Cybersecurity threat to e-commerce logistics
The Indian e-commerce logistics market is expected to reach US$11.48 billion by 2027, posting a CAGR of 18.8% from 2020. It was worth US$2.93 billion in 2019, according to a ResearchAndMarkets report.
The Indian e-commerce logistics market is flourishing due to increase in internet , rise in adoption of smartphones, favorable demographics, surge in acceptability of online payment, and emergence of several new e-commerce players on social media, said the report “India E-commerce Logistics Market Forecast to 2027 – COVID-19 Impact and Regional Analysis by Service Type, Operational Area, and End User”, dated 14 Jan 2021.
Further, supportive government initiatives to boost infrastructure development and implantation of GST have improved the delivery of e-commerce goods across the country.
However, the cybersecurity risk is expected to hamper the Indian e-commerce logistics market to a certain extent, cautioned the report.
The COVID-19 pandemic has resulted in fueling the growth of the e-commerce logistics sector.
E-commerce players are seeking alternative warehousing locations to help in the continuity of their business, along with mitigating delivery delays. With the rising awareness for social distancing among Indians, people have started opting for online platforms more than before, even in rural areas.
Further, extended lockdowns in several countries have resulted in disrupting the supply chain. E-commerce logistics players are leveraging options, such as contactless deliveries, to mitigate the risk of infection, further boosting the demand for online sales. Also, several retailers across the country are going online to expand their reach. It has offered a wider choice of goods to the customers at competitive pricing, thus boosting e-commerce sales.
According to a report published by Unicommerce titled “E-commerce Trends Report 2020, as of June 2020”, India’s e-commerce industry noticed an overall order-volume growth of 17% post the outbreak of COVID-19. #technology #e-commerce #consumer #market #banking /fiinews.com
