U-Freight to tap US$565.96 billion global e-commerce market
THE value of the global e-commerce logistics market is predicted to hit EUR500 billion (US$565
THE value of the global e-commerce logistics market is predicted to hit EUR500 billion (US$565.96 billion) by 2024, prompting U-Freight Group CEO Simon Wong to announce that his company is ready to meet the challenges of providing logistics services to this rapidly expanding sector of global trade.
'Transport intelligence, a major provider of market research solutions to the global logistics industry, says e-commerce is quite a puzzle for logistics service providers,' said Mr Wong.
'The 'exponential growth' of e-commerce and the increased role of consumers in individual transactions pose several challenges to governments and businesses alike, whether in terms of trade facilitation, safety/security or the collection of duties and taxes.
'At U-Freight, in our development of e-commerce logistics solutions, we are continually trying to address the key issues stemming from increasing volumes of business-to-business (B2B) and business-to-consumer (B2C) e-commerce shipments and the time sensitivity thereof,' he said.
'We have also been qualified by China Customs and CIQ (China Inspection and Quarantine) as a licensed Cross-border E-Commerce Enterprise and as a Cross-Border E-Commerce Logistics Service Provider,' Mr Wong said.