Same Day Delivery Market Size to hit $ 16739 Million by 2027 at CAGR 19.5%, says Brandessence Market Research
30 Mar, 2021, 18:00 IST
PUNE, India, March 30, 2021 /PRNewswire/ -- Global Same Day Delivery Market size is valued at USD 4810.1 Million in 2020 and expected to reach USD 16739 Million by 2027 with a CAGR of 19.5% over the forecast period. Increasing market competition to achieve higher customer satisfaction & growing urbanization are anticipated to drive the growth of Global Same Day Delivery Market.
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Same day delivery is the package delivery service in which customer receives the product within few hours or in a chosen time window on same day. The same day delivery is very fast process so to avoid mix-ups if product ordered before noon are delivered on same day otherwise next morning i.e. product is delivered within 24 hours. It is the most requested services on ecommerce platform such as on Amazon, Walmart, etc. and it has positively impacted the e-commerce due to its reduced delivery time. The same day delivery has few limitations such as limited to urban centers and holiday rush but this service increases the customer satisfaction, shipping savings, builds trust with customer & gives a competitive advantage. The same day delivery charges for its premium service depending upon the location as a strong supply chain is required to give the customer an experience.
It works on the scale of economy which reduces cost if many packages are delivered to same location. Many players are involved in the delivery process such as e-commerce, large couriers and local delivery service which need coordinate to reach the customer. Multichannel parcel services are used to reduce the cost as large company have to cope up with varying demand so small players comes in the market. The customer service has been great deal which has provided a boost to ecommerce by same day delivery. This employs improved practices, technology, efficient labor, reduced chances of error etc to meet the need.
During covid-19 pandemic, the government's movement restriction has affected the market. The reduced transportation services took days to deliver the product but with the eased lockdown restriction the delivery service is growing further due to the increased social distancing. The increased digitalization and growing working population will help in the growth of market.
Increasing Market Competition to Meet the Customer Expectation for Quality Product at Low Cost with Fast Delivery is One of the Major Factors Driving the Market Growth
The major factor driving the growth of global same day delivery market is the market competition to meet the customer expectation. The technological advancements have provided opportunity to the market to tap large market through e-commerce like Amazon, Walmart, etc. to achieve economies of scale requires fast delivery of product. In addition, the changing lifestyle such as ordering gift, difficult work-life balance, hectic schedule, etc. is also supplementing the demand for same day delivery as it reduces travelling hassle. Furthermore, the emergency orders require fast delivery such as specific drug or equipment & at low cost with remote location delivery service is also augmenting the market growth.
However, the low penetration of technology, lack of IT & logistics infrastructure and technical knowledge among individuals to operate along with absence of data protection regulation may hinder the market growth. In spite of that, growing penetration of technology & developing logistics infrastructure may create more opportunities for the further growth of the market.
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News: Unlimited Same Day Delivery Service has been Launched in Toronto by Goodfood.
February 4th 2021; Goodfood Market Corp., an online grocery company in Toronto announced launch of Goodfood WOW in Toronto providing unlimited same day delivery service and its first deliveries are scheduled on Feb. 6th. Increasing delivery speed & flexibility is the key for growth strategy with eco-friendly packaging that don't require boxes, ice packs will help in reduction of carbon footprint. The successful service roll out in Montreal will pave the way for Greater Toronto Area & Ontario which have become largest geography for active members.
Key Players for Global Same Day Delivery Market Report:
Some of the key players for Global Same Day Delivery Market are Jet Delivery, A1 Express Services, Dropoff, DHL Group, USA Couriers, Express Courier, Alibaba Group Holding, Jingdong, eBay, B2W Companhia Digital, Rakuten, Zalando, Groupon, A1-SameDay, Amazon Logistics, Aramex, Delhivery, Deutsche Post, FedEx Corporation, Home Xpress, Ontime Courier, United Parcel Service of America, XPO Logistics and others.
Global Same Day Delivery Market Segmentation:
Global same day delivery market report is segmented on the basis of type, application, service, and region & country level. Based upon type, global same day delivery market is classified into B2B, B2C and C2C. Based upon application, global same day delivery market is divided into retailers, e-commerce and others. Based upon service, global same day delivery market is divided into international and domestic.
North America is Anticipated to Dominate the Global Same Day Delivery Market
The global same day delivery market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global same day delivery market within the forecast period due to its quick adoption of latest technology & deployment of automation in delivery process. The region has major technology firms to implement technology and existing infrastructure helps it in achieving competitive advantage. According to UNCTAD, 95% of e-commerce takes place in developed economies & 95% of all e-commerce transactions are from B2B segment of which USA holds 15% transactions. In addition, Increased digitalization has led to online shopping due to high internet penetration rate in this region.
Asia Pacific is growing at a faster pace & anticipated to capture a significant share in this market within the forecast period due to its developing economies such as India & China. In addition, the region is home for world's 60% population. Furthermore, with growing digitalization & increasing working population the demand for e-commerce market will supplement the growth of same day delivery market.
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