Express Delivery Market Size, Share, Trend, Forecat
The express delivery market was valued at US$ 2,39,337.5 million in 2019 and is projected to reach US$ 3,78,233.7 million by 2027; it is expected to grow at a C
According to a latest research report titled “Express Delivery Market to 2027-COVID-19 Impact and Forecast and Global Analysis,” published by The Insight Partners, the express delivery market was valued at US$ 239337.5 million in 2019, and it is expected to grow at a CAGR of 6.3% during 2020-2027 to reach US$ 378233.7 million by 2027.
APAC Express Delivery Market to Grow at Highest CAGR during Forecast Period
APAC is the fastest-growing region in the express delivery market. The region has a growing economy, which is leading to growth in a wide variety of sectors, including retail and e-commerce, transportation and logistics, automotive, and pharmaceuticals. The adoption of advanced and innovative technologies across the region is high. The deployment of express delivery services has increased in Asian countries due to investments by the governments and various initiatives for the development of the retail and e-commerce industry. Asia is referred to as the global economy's growth engine with countries, such as China, India, Japan, and Singapore. Several manufacturing industries for automotive, pharmaceuticals, and retail sectors have enhanced the acceptance of advanced technologies across these sectors. The continuous development in the economy and rapid digitalization, rise in education awareness, increase in incomes of the middle class, and adequate government support are factors that have ensured a smooth transition of the developing economies from the developing stage towards a developed stage.
Key Findings of the Study
Increase in adoption of smartphones and high penetration of Internet across the globe is positively influencing the adoption of e-commerce across the global population. This has also influenced businesses to adopt online selling channels to reach a higher customer base. For instance, according to GSMA, the top countries with the highest percentage of smartphone users are China (63.4%), India (31.8%), the US (81.6%), Indonesia (58.6%), Brazil (51.4%), Russia (68.5%), Japan (59.9%), Mexico (54.4%), Germany (77.9%), and Vietnam (63.1%). Additionally, the Internet penetration across these countries is influencing the population to adopt online buying. Express delivery is being highly adopted by brands and e-commerce websites to offer better customer service by delivering parcels in less time.
Due to increase in Internet penetration and online shopping, B2C e-commerce in the globe is witnessing growth. For example, the US B2C e-commerce industry contributed about 10% of total retail revenue in 2019. Moreover, end users who place orders for food and luxury products, such as jewelry, are prepared to spend more on quick product delivery services. By implementing a shortened lead time, e-tailers are also gradually attempting to gain a competitive advantage. These factors are driving the demand for same-day delivery services, where manufacturers pick up and deliver goods from e-tailer warehouses to consumers on the same day. For instance, A1-SameDay Delivery Service Inc. operates in different divisions, such as Local Courier Service, National Courier Service, Scheduled Delivery, and Bike Messenger Service. Same-day delivery services for small and large packages are provided by the company. Some other companies operating in the market are Deliv, Deutsche Post AG, Express Courier, and FedEx Corp., among others.