New York, United States, June 27, 2023 (GLOBE NEWSWIRE) -- A dropshipping business model makes it possible to run a store without keeping any inventory. After a deal is made, the supplier will deliver the purchased goods from your storage space to the buyer's door. Not once will a person have to stress over shipping, storing, or packing their belongings. Smartphones have fundamentally altered how people shop online with the aid of numerous mobile applications, which is expected to help the global dropshipping market over the forecast period.
The global dropshipping market’s major key players are
- Alidropship.com
- DobaInc
- Chinabrands.com
- Megagoods Inc
- MODALYST Inc
- Oberlo
- Shopify Inc
- SaleHoo Group Limited
- Sunrise Wholesale Merchandise LLC
- Wholesale2b.com
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Report Scope
| Report Metric | Details |
| Market Size in 2022 | USD 222.46 billion |
| CAGR | 28.4% |
| Historical Data | 2020-2021 |
| Base Year | 2022 |
| Forecast Period | 2023-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Alidropship.com, Doba, Inc, Chinabrands.com, Megagoods, Inc, MODALYST, INC, Oberlo, Shopify, Inc, SaleHoo Group Limited, Sunrise Wholesale Merchandise LLC, and Wholesale2b. |
| Key Market Opportunities | The growing use of the Internet of Things to Support Effective Dropshipping |
| Key Market Drivers | Rising use of Smartphones along with Better Network Connectivity |
Key Highlights
- The global dropshipping market size was valued at USD 222.46 Billion in 2022. It is expected to grow at a CAGR of 28.4% during the forecast period (2023–2031).
- Based on the product, the global dropshipping market is bifurcated into toys, hobbies, and DIY, furniture and appliances, food and personal care, electronics and media, and fashion. The fashion segment is the highest contributor to the market and is expected to grow at a CAGR of 35.6% during the forecast period.
- Asia-Pacific is the most significant shareholder in the global dropshipping market and is expected to grow at a CAGR of 37.7% during the forecast period.
Rising use of Smartphones with Better Network Drives the Global Market
Smartphone users can easily access various e-commerce applications to browse, search, and conveniently order products from a distance. More recently, rural areas have adopted smartphones more frequently than urban areas, which have been using them for more than ten years. In developing countries, rural people's attitudes toward online shopping have changed due to the widespread availability of goods made possible by smartphones, and smartphone use for online shopping has increased.
Growing use of the Internet of Things to Support Effective Dropshipping Creates Tremendous Opportunities
In order to lessen the possibility of a stock-out scenario with the supplier, IoT-based solutions make it possible for features like automatically ordering products from the manufacturer once inventory drops below a predetermined level. By gathering customer data, creating innovative marketing strategies, focusing on the right market, and increasing website traffic, retailers can integrate Internet of Things (IoT) features into their online stores to identify popular products. Long-term, IoT can help to streamline the management of the entire supply chain, cut costs, and ensure the quality of products by identifying damaged or out-of-stock items. These factors are predicted to influence retailers' decisions regarding dropshipping and the addition of IoT-based features to their online stores, thereby promoting the market's growth.
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Regional Analysis
Asia-Pacific is the most significant shareholder in the global dropshipping market and is expected to grow at a CAGR of 37.7% during the forecast period. The expansion of e-commerce businesses in the area, which subsequently fuels demand for dropshipping services, is credited with regional market growth. The Asia-Pacific region's market is anticipated to grow significantly over the forecast period due to the region's expanding economy, sizable consumer base, and rising number of producers of various end-use products, such as textiles, furniture, and electronics.
North America is expected to grow at a CAGR of 33.3%, during the forecast period. Dropshipping is growing in popularity due to cost savings and reduced startup costs. The North American market is anticipated to grow the fastest during the forecast period. As a result, there have been a lot of dropshipping businesses that have popped up in the US and Canada over the past few years. It is also predicted that having a variety of market participants in the area will accelerate market expansion. Due to changing consumer habits and market trends like voice-activated virtual assistants and chatbots, as well as mobile e-commerce, the North American market is predicted to grow significantly.
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Global Dropshipping Market: Segmentation
By Product
- Toys, Hobby, and DIY
- Furniture and Appliances
- Food and Personal Care
- Electronics and Media
- Fashion
By Regions
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
TABLE OF CONTENT
- EXECUTIVE SUMMARY
- RESEARCH SCOPE & SEGMENTATION
- Research Objectives
- Market Definition
- Limitations & Assumptions
- Market Scope & Segmentation
- Currency & Pricing Considered
- MARKET OPPORTUNITY ASSESSMENT
- Emerging Regions / Countries
- Emerging Companies
- Emerging Applications / End Use
- Investment Landscape
- New Business Models / Revenue Streams
- TAM
- MARKET TRENDS
- Drivers
- Market Warning Factors
- Latest Macro Economic Indicators
- Geopolitical Impact
- Human Factors
- Technology Factors
- MARKET ASSESSMENT
- Porters Five Forces Analysis
- Value Chain Analysis
- Sales And Distribution Channel Analysis
- Case Study Analysis
- Patent Analysis
- M & A Agreements & Collabration Analysis
- ESG TRENDS
Continue…
Table of Content and Figure @ https://straitsresearch.com/report/dropshipping-market/toc
Market News
- In November 2022- Alliance Entertainment Holding Corporation ("Alliance Entertainment"), the world's largest distributor and wholesaler of music, movies, video games, electronics, arcades, and collectibles, unveiled its newest AE Exclusive from Funko® Funko Pop! Rocks: Iron Maiden's Eddie Glow in the Dark 4 pack.
News Media
Global Internet of Things (IoT) Market Grows at a Staggering CAGR of 13.19%
Global Warehousing and Storage Services Market Grows Steadily at a CAGR of 7.70%
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