Europe Returns Management Software Market Forecast to 2031
Europe Returns Management Software Market Forecast to 2031 – Regional Analysis – by Component (Software and Services), Deployment (Cloud and On Premises), and Enterprise Size (Large Enterprises and SMEs)
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Description
Growth of E-commerce Sector Drives Europe Returns Management Software Market
The surge in global e-commerce during the COVID-19 pandemic initially emerged as a response to the necessity of the situation. With the closure of physical retail stores, online shopping became a practical alternative as people were forced to stay indoors. According to Morgan Stanley, the share of global retail sales attributed to e-commerce increased from 15% in 2019 to 21% in 2021. Presently, it is estimated that e-commerce accounts for approximately 22% of total sales as per Morgan Stanley. The rise in e-commerce sales has surged the demand for industry services as consumers return upto 30% of the products in certain categories. This highlights the importance of effective return management processes and the need for businesses to address customer returns efficiently.
Returns management software plays a crucial role in supporting the expanding e-commerce sector. The increasing online sales volumes eventually increase the number of product returns. Efficiently managing these returns is crucial for businesses to reduce costs, enhance operational efficiency, and maintain customer satisfaction.
Implementation of returns management software enables real-time tracking and monitoring of returns, allowing businesses to have complete visibility into the process. Additionally, returns management software optimizes inventory management by providing insights into product quality, return patterns, and customer feedback. This information aids businesses to make informed decisions regarding product improvements, supplier relationships, and customer service enhancements. Thus, the growing e-commerce sector drives the returns management software market.
Europe Returns Management Software Market Overview
The returns management software market in Europe is experiencing robust growth, propelled by several key factors that underscore its increasing significance in the business landscape. One of the primary drivers is the escalating e-commerce activity across the continent. With a burgeoning online retail sector, businesses are recognizing the critical need for efficient returns processes to enhance customer satisfaction and maintain brand loyalty. Furthermore, the e-commerce sector in Europe has shown significant growth in B2C turnover in recent years despite a few nations reporting fewer e-commerce sales due to reduced COVID-19 pandemic precautions. Furthermore, Eastern Europe has had faster growth rates in B2C e-commerce sales than many countries in Western Europe. According to the European E-commerce Report 2022, Western Europe accounted for 63% of total revenue, while Eastern Europe accounted for 2% (as of 2021). The rising awareness of environmental sustainability also contributes to the market’s expansion. In the UK, there is a significant number of frequent returners among online shoppers, with 71% of them engaging in the practice at varying frequencies. This trend of high return rates poses distinctive challenges for e-commerce businesses compared to traditional brick-and-mortar stores. Companies in Europe are adopting returns management solutions to minimize waste and optimize reverse logistics, aligning with the growing emphasis on eco-friendly business practices. Furthermore, the relentless pursuit of operational efficiency and cost-effectiveness is prompting businesses to invest in sophisticated returns management tools. These solutions not only reduce operational overheads but also enhance overall supply chain resilience, addressing the challenges posed by reverse logistics.
Europe Returns Management Software Market Revenue and Forecast to 2031 (US$ Million)
Europe Returns Management Software Market Segmentation
The Europe returns management software market is categorized into component, deployment, enterprise size, and country.
Based on component, the Europe returns management software market is bifurcated into software and services. The software segment held a larger market share in 2023.
In terms of deployment, the Europe returns management software market is segmented into cloud and on premises. The cloud segment held a larger market share in 2023.
Based on enterprise size, the Europe returns management software market is bifurcated into large enterprises and SMEs. The large enterprise segment held a larger market share in 2023.
By country, the Europe returns management software market is segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. The UK dominated the Europe returns management software market share in 2023.
ParcelLab; ReverseLogix; nShift; United Parcel Service of America, Inc; SAP SE; AfterShip; and Shipcloud GmbH are some of the leading companies operating in the Europe returns management software market.
Summary Info
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According to Business Market Insights’ research, the Europe returns management software market was valued at US$ 365.16 million in 2023 and is projected to reach US$ 683.05 million by 2031, recording a CAGR of 8.1% from 2023 to 2031. Rising sustainability initiatives and rising need for customer satisfaction are among the critical factors attributed to drive the Europe returns management software market growth.
As sustainability becomes an integral part of business strategies worldwide, organizations are increasingly focusing on implementing sustainable practices throughout their operations. Returns management software plays a crucial role in optimizing the reverse logistics process, which involves the return, repair, or recycling of products. By efficiently managing product returns, businesses can reduce waste, minimize transportation emissions, and improve resource utilization. According to the National Retail Federation (NRF), in 2022, ~16.5% of all products sold were eventually returned. In the apparel segment, this percentage rises significantly to over 50% for online sales. These statistics highlight the substantial volume of returns that businesses must handle, underscoring the importance of implementing sustainable returns management strategies.
Returns management software enables businesses to streamline and automate their returns processes, reducing the amount of waste generated. By facilitating more accurate and efficient returns handling, organizations can minimize the need for disposal and landfilling of returned products. Additionally, by optimizing transportation routes and consolidating returns, the software helps reduce the carbon footprint associated with reverse logistics operations. Thus, such initiatives are anticipated to offer new opportunities for market growth.
On the contrary, high implementation costs hamper the growth of Europe returns management software market.
Based on component, the Europe returns management software market is bifurcated into software and services. The software segment held 68.3% market share in 2023, amassing US$ 249.33 million. It is projected to garner US$ 480.28 million by 2031 to register 8.5% CAGR during 2023-2031.
In terms of deployment, the Europe returns management software market is divided into cloud and on premises. The cloud segment held 69.7% share of Europe returns management software market in 2023, amassing US$ 254.62 million. It is projected to garner US$ 506.67 million by 2031 to expand at 9.0% CAGR from 2023 to 2031.
By enterprise size, the Europe returns management software market is categorized into large enterprises and SMEs. The large enterprises segment held 64.4% share of Europe returns management software market in 2023, amassing US$ 234.99 million. It is predicted to garner US$ 459.79 million by 2031 to expand at 8.8% CAGR between 2023 and 2031.
Based on country, the Europe returns management software market is categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that the UK captured 29.0% share of Europe returns management software market in 2023. It was assessed at US$ 106.01 million in 2023 and is likely to hit US$ 225.77 million by 2031, registering a CAGR of 9.9% during 2023-2031.
Key players operating in the Europe returns management software market are ParcelLab; ReverseLogix; nShift; United Parcel Service of America, Inc; SAP SE; AfterShip; and Shipcloud GmbH., among others.
In October 2023, UPS Inc. announced that it acquired Happy Returns, a returns management software company, from PayPal Holdings Inc. for an undisclosed sum.
In September 2021, One of the leading German shipping service providers Shipcloud and the cloud ERP provider Haufe X360 (formerly lexbizz) from Lexware decided on a technology partnership that enables medium-sized companies to control their logistics and fulfillment processes at a level that is otherwise only reserved for large corporations.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the Europe returns management software market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe returns management software market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
1. Introduction
1.1 The Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Scope
3.2 Coverage
3.3 Secondary Research
3.4 Primary Research
3.4.1 Hypothesis Formulation:
3.4.2 Developing Base Number:
3.4.3 Data Triangulation:
3.4.4 Country Level Data:
3.5 Key Sources and Factors Considered During the Market Analysis
3.5.1 Key Secondary Sources:
3.5.2 Key Factors Considered:
3.6 Key Companies Considered During Market Analysis
4. Europe Returns Management Software Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Solution Providers:
4.2.2 End-Users:
4.2.3 List of Vendors in the Value Chain
4.3 Premium Insights
4.3.1 Comparison of Frontend Vs Backend
4.3.1.1 User Requirement Analysis – Frontend Features Present Vs Frontend Features Required
4.3.1.1.1 Frontend Features Present
4.3.1.1.2 Frontend Features Required
4.3.1.2 User Requirement Analysis – Backend Features Present Vs Backend Features Required
4.3.1.2.1 Backend Features Present
4.3.1.2.2 Backend Features Required
5. Europe Returns Management Software Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Return Rates
5.1.2 Growth of E-commerce Sector
5.1.3 Rising Need for Customer Satisfaction
5.2 Market Restraints
5.2.1 High Implementation Costs
5.2.2 Data Security Concerns
5.3 Market Opportunities
5.3.1 Rising Sustainability Initiatives
5.3.2 Technological Advancements
5.4 Future Trends
5.4.1 Integration of Blockchain Technology
5.5 Impact of Drivers and Restraints:
6. Returns Management Software Market – Europe Analysis
6.1 Returns Management Software Market Revenue (US$ Million), 2021-2031
6.2 Returns Management Software Market Forecast Analysis
7. Europe Returns Management Software Market Analysis – by Component
7.1 Software
7.1.1 Overview
7.1.2 Software: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Services
7.2.1 Overview
7.2.2 Services: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
8. Europe Returns Management Software Market Analysis – by Deployment
8.1 Cloud
8.1.1 Overview
8.1.2 Cloud: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
8.2 On Premises
8.2.1 Overview
8.2.2 On Premises: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
9. Europe Returns Management Software Market Analysis – by Enterprise Size
9.1 Large Enterprises
9.1.1 Overview
9.1.2 Large Enterprises: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
9.2 SMEs
9.2.1 Overview
9.2.2 SMEs: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
10. Europe Returns Management Software Market – Country Analysis
10.1 Europe Market
10.1.1 Europe: Returns Management Software Market – Revenue and Forecast Analysis – by Country
10.1.1.1 Europe: Returns Management Software Market – Revenue and Forecast Analysis – by Country
10.1.1.2 United Kingdom: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.2.1 United Kingdom: Returns Management Software Market Breakdown, by Component
10.1.1.2.2 United Kingdom: Returns Management Software Market Breakdown, by Deployment
10.1.1.2.3 United Kingdom: Returns Management Software Market Breakdown, by Enterprise Size
10.1.1.3 Germany: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.3.1 Germany: Returns Management Software Market Breakdown, by Component
10.1.1.3.2 Germany: Returns Management Software Market Breakdown, by Deployment
10.1.1.3.3 Germany: Returns Management Software Market Breakdown, by Enterprise Size
10.1.1.4 France: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.4.1 France: Returns Management Software Market Breakdown, by Component
10.1.1.4.2 France: Returns Management Software Market Breakdown, by Deployment
10.1.1.4.3 France: Returns Management Software Market Breakdown, by Enterprise Size
10.1.1.5 Italy: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.5.1 Italy: Returns Management Software Market Breakdown, by Component
10.1.1.5.2 Italy: Returns Management Software Market Breakdown, by Deployment
10.1.1.5.3 Italy: Returns Management Software Market Breakdown, by Enterprise Size
10.1.1.6 Russia: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.6.1 Russia: Returns Management Software Market Breakdown, by Component
10.1.1.6.2 Russia: Returns Management Software Market Breakdown, by Deployment
10.1.1.6.3 Russia: Returns Management Software Market Breakdown, by Enterprise Size
10.1.1.7 Rest of Europe: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
10.1.1.7.1 Rest of Europe: Returns Management Software Market Breakdown, by Component
10.1.1.7.2 Rest of Europe: Returns Management Software Market Breakdown, by Deployment
10.1.1.7.3 Rest of Europe: Returns Management Software Market Breakdown, by Enterprise Size
11. Competitive Landscape
11.1 Company Positioning & Concentration
11.2 Heat Map Analysis by Key Players
11.3 Company Market Global Share Analysis
11.4 Product Benchmarking
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 parcelLab
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 ReverseLogix
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 nShift
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 United Parcel Service of America, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 SAP SE
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Shipcloud GmbH
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 AfterShip
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 Word Index
14.2 About The Research Team
Table 1. Europe Returns Management Software Market Segmentation
Table 2. List of Vendors
Table 3. Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
Table 4. Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million) – by Component
Table 5. Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million) – by Deployment
Table 6. Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million) – by Enterprise Size
Table 7. Europe: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Country
Table 8. United Kingdom: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 9. United Kingdom: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 10. United Kingdom: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Enterprise Size
Table 11. Germany: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 12. Germany: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 13. Germany: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Enterprise Size
Table 14. France: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 15. France: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 16. France: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Enterprise Size
Table 17. Italy: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 18. Italy: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 19. Italy: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Enterprise Size
Table 20. Russia: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 21. Russia: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 22. Russia: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Enterprise Size
Table 23. Rest of Europe: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Component
Table 24. Rest of Europe: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Deployment
Table 25. Rest of Europe: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million) – by Enterprise Size
Table 26. Heat Map Analysis by Key Players
Table 27. List of Abbreviation
Figure 1. Europe Returns Management Software Market Segmentation, by Country
Figure 2. Returns Management Software Market – Key Market Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Returns Management Software Market Revenue (US$ Million), 2021-2031
Figure 5. Returns Management Software Market Share (%) – by Component (2023 and 2031)
Figure 6. Software: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
Figure 7. Services: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
Figure 8. Returns Management Software Market Share (%) – by Deployment (2023 and 2031)
Figure 9. Cloud: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
Figure 10. On Premises: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
Figure 11. Returns Management Software Market Share (%) – by Enterprise Size (2023 and 2031)
Figure 12. Large Enterprises: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
Figure 13. SMEs: Returns Management Software Market – Revenue and Forecast to 2031 (US$ Million)
Figure 14. Europe Returns Management Software Market, by Key Countries – Revenue (2023) (US$ Million)
Figure 15. Europe: Returns Management Software Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 16. United Kingdom: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million)
Figure 17. Germany: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million)
Figure 18. France: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million)
Figure 19. Italy: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million)
Figure 20. Russia: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million)
Figure 21. Rest of Europe: Returns Management Software Market – Revenue and Forecast to 2031(US$ Million)
Figure 22. Company Positioning & Concentration
The List of Companies – Europe Returns Management Software Market
o parcelLab.
o ReverseLogix.
o NShift.
o United Parcel Service of America, Inc.
o SAP SE.
o Shipcloud GmbH.
o AfterShip
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