Courier, Express, and Parcel Market size to grow at a CAGR of 7.07% from 2022 to 2027, Express Ltd., FedEx Corp., First Flight Courier Ltd., and more to emerge as key players, Technavio

NEW YORK, March 19, 2024 /PRNewswire/ -- The courier, express, and parcel market size is estimated to grow by USD 162.5 billion from 2022 to 2027 at a CAGR of 7.07% according to Technavio. The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors, including Allied Express Transport Pty Ltd., Aramex International LLC, Deutsche Post AG, DTDC Express Ltd., FedEx Corp., First Flight Courier Ltd., India Post, Japan Post Holdings Co. Ltd., Korea Post, La Poste, Nippon Express Holdings Inc., One World Express Inc. Ltd., Otto GmbH and Co. KG, Royal Mail Plc, SF Express Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., United States Postal Service, Yamato Transport Co. Ltd., and Canada Post Corp. 

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Market Insights -

• Vendors: 15+, Including Allied Express Transport Pty Ltd., Aramex International LLC, Deutsche Post AG, DTDC Express Ltd., FedEx Corp., First Flight Courier Ltd., India Post, Japan Post Holdings Co. Ltd., Korea Post, La Poste, Nippon Express Holdings Inc., One World Express Inc. Ltd., Otto GmbH and Co. KG, Royal Mail Plc, SF Express Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., United States Postal Service, Yamato Transport Co. Ltd., and Canada Post Corp., among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: Consumer (B2B, B2C, and C2C), delivery (international and domestic), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

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The rise in FTAs to drive investments in courier, express, and parcel markets in emerging economies drives market growth. 

The courier, express, and parcel segment is one of the fast-growing segments of the logistics and transportation industry. However, it is highly influenced by changes in demographics and consumer behavior. The global courier, express, and parcel markets are mainly driven by the rise in international trade, which is spurred by the liberalization of trade conditions through FTA. In November 2020, India announced that it would revive talks on a possible free trade agreement (FTA) with the European Union and the US. The development of such new trade corridors and government initiatives are allowing the logistics and transportation industry across the world to reap attractive profits. In addition, vendors are engaged in merger and acquisition activities to strengthen their position in the market and capitalize on the growing trade corridors.

• The growing integration of last-mile delivery (LMD) models with courier, express, and parcel companies is an emerging market trend. 
• The increasing threat from sharing-based business models will be a major challenge for the courier, express, and parcel market during the forecast period. 

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Analyst Review

The Courier, Express, and Parcel (CEP) market have experienced a profound transformation in recent years, driven by a convergence of factors such as technological advancements, globalization, and shifting consumer preferences. This sector encompasses a wide array of services facilitating the swift and efficient transportation of goods across various modes of transportation including air, roadways, railways, waterways, and even drones.

One of the key drivers propelling the growth of the CEP market is the rapid expansion of e-commerce industry globally. With the increasing popularity of online shopping, there's a surge in demand for reliable and efficient delivery services, both domestically and internationally. Companies like Ninja Van, Grab, and Wing Aviation LLC are leveraging digital technologies, GPS tracking, and crowd-sourced delivery models to meet the urgency of delivery demanded by e-tail customers.

In regions like Asia-Pacific and developing countries such as India, China, and Nepal, where the e-commerce industry is booming, there's a pressing need for robust logistics infrastructure to support the burgeoning cross-border trade. However, challenges such as poor infrastructure and restraints in terms of regulatory frameworks often pose hurdles in realizing the full potential of these markets.

To address these challenges, service operators are increasingly investing in IT infrastructure, autonomous vehicles, and drones to optimize logistics costs and enhance cost-effectiveness. Moreover, the adoption of technologies like Internet of Things (IoT) enables real-time parcel tracking facilities, ensuring safe delivery options and providing transparency to customers.

In developed regions like North America and Europe, where the CEP market is more mature, companies are focusing on enhancing customer experience through innovative solutions such as virtual stores and cash-on-delivery (CoD) payment options. Additionally, partnerships and trade-related agreements play a significant role in expanding the reach of service providers, enabling them to tap into new markets and investment pockets.

Despite the opportunities presented by technological advancements and globalization, the CEP market also faces challenges such as lockdowns, which disrupt supply chains, and the urgency of delivery, which puts pressure on service operators to meet customer expectations. However, by leveraging key stakeholders, including suppliers and buyers, and conducting thorough analyses like Porter's Five Forces, companies can navigate through these challenges and capitalize on the vast opportunities offered by the dynamic CEP market.

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Market Overview

The Courier, Express, and Parcel (CEP) Market in the Asia-Pacific region is witnessing a transformative surge, particularly with the advent of autonomous vehicles and crowd-sourced delivery models. Companies like Alphabet are revolutionizing the landscape, driving cost-effectiveness and efficiency in cross-border trade. In regions like Christiansburg, Virginia, the integration of these technologies is reshaping traditional logistics, enhancing services like cash-on-delivery payments. Developing countries are embracing these advancements to streamline construction and utilities delivery, optimizing airways for swift transportation. The market's future hinges on innovative solutions, leveraging air transport and crowd-sourced models for seamless operations. As demand surges, the industry adapts, ensuring swift, reliable, and sustainable delivery services.

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Related Reports:

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The predicted growth of the courier and local delivery services market size in the US from 2021 to 2026 is USD 26.66 million at a progressing CAGR of 4.25%. Furthermore, this report extensively covers courier and local delivery services market segmentation in US by Delivery Type - Ground, express, and deferred, and Parcel Type - B2C, B2B, and C2C. The growing B2C e-commerce market in US is notably driving the courier and local delivery services market growth in US.

Table of Contents

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio