Couriers Market to grow by USD 115.9 Billion from 2024-2028, driven by advanced technology adoption for improved logistics and AI's impact on market trends - Technavio

NEW YORK, Oct. 25, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The Global Couriers Market size is estimated to grow by USD 115.9 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 7.18% during the forecast period. Rise in adoption of advanced technologies to enhance logistics efficiency and reduce costs is driving market growth, with a trend towards rise in adoption of electric delivery vehicles. However, complexity in route planning and optimization due to increasing urbanization and congested roads poses a challenge.Key market players include AK Express, Allied Express, Antron Express, Aramex International LLC, City Link Express, DHL Group., DPD Local UK Ltd., DTDC Express Ltd., DX Group, FedEx Corp., Geopost, Hermes Europe GmbH, JD.com Inc., Jet Pack Courier Service., NAPAREX, Posten Bring AS, SF Express Co. Ltd., The Courier Guy, United Parcel Service Inc., Yamato Transport Co. Ltd., and ZTO Express.

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Key Market Trends Fueling Growth

The global couriers market has experienced significant growth in the adoption of electric delivery vehicles due to increasing sustainability concerns and operational efficiency needs. With the rise of e-commerce and last-mile delivery services, courier companies are transitioning to electric fleets to address environmental issues, reduce costs, and improve delivery capabilities. The environmental benefits of electric vehicles (EVs), such as reduced or zero greenhouse gas emissions and cleaner urban environments, are driving their adoption. Additionally, EVs offer lower fuel and maintenance costs, government incentives, and the ability to navigate urban areas effectively. Companies like FedEx and DHL are leading the way, collaborating with manufacturers like TATA and Ford to deploy EVs for last-mile delivery. Advancements in EV technology, including extended battery range and rapid charging infrastructure, are further increasing the feasibility of larger-scale integration. These factors are expected to boost the growth of the global couriers market. 

In the dynamic healthcare industry, courier services play a crucial role in delivering lab specimens, medical supplies, and even organs for transplant surgeries. Trends like home delivery of diagnostic laboratory services for chronic diseases such as diabetes, chronic kidney disease, and prostate cancer. Courier service providers ensure temperature-controlled environments for sensitive medical items. E-commerce logistics have expanded, with domestic and international markets capitalizing on omnichannel retailing, internet penetration, and smartphone usage. Digital capabilities, including platforms like WebCargo and Validaide Capabilities Platform, streamline cross-border e-commerce. Patient care procedures and healthcare planning benefit from efficient medical logistics. Delivery delays remain a challenge, but advancements in technology and standards of living continue to drive growth in this sector. Online retail sales and e-commerce sales, especially during holiday seasons, also contribute significantly to the market.

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Market Challenges

• The global couriers market faces significant challenges due to the intricacy of route planning and optimization, intensified by urbanization and traffic congestion. Urban areas host a high concentration of delivery locations within limited spaces, making efficient route planning essential for courier companies. However, congested roads hinder timely deliveries, escalating operational costs, and reducing productivity. To address these issues, companies invest in advanced route optimization technologies and strategies. Traditional point-to-point delivery methods no longer suffice, as urban landscapes demand intricate planning to accommodate traffic patterns, construction, road closures, and restricted access areas. This added complexity negatively impacts courier services' operational efficiency, affecting delivery schedules and customer satisfaction. Urbanization and traffic congestion are anticipated to hinder the growth of the global couriers market in the forecast period.
• In today's business landscape, couriers face numerous challenges in both domestic and international markets. Omnichannel retailing and international trade require efficient logistics networks, including distribution centers, smart warehouses, and advanced tracking systems. Internet penetration and smartphone usage have increased online retail sales and e-commerce, leading to parcel shipments. Holiday seasons and e-retail portals drive peak delivery periods. Digital capabilities are crucial for cross-border e-commerce, with platforms like WebCargo and the Validaide Capabilities Platform streamlining processes. Sustainability goals demand carbon-neutral delivery and electric vehicles for last-mile distribution. Timely delivery, same-day delivery, and automation are essential for Business-to-Consumer (B2C) and Business-to-Business (B2B) transactions. Cross-border shipping, secure document delivery, and logistics solutions are key for Fintech startups. Customer experience is paramount, with route optimization and advanced tracking systems enhancing delivery networks. Online grocery shopping, medical samples, and last-mile distribution require specialized handling. E-commerce sector growth necessitates digital transformation and transportation innovation.

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Segment Overview

This couriers market report extensively covers market segmentation by

1. Consumer 
• 1.1 Business to business
• 1.2 Business to consumer
• 1.3 Consumer to consumer
2. Type
• 2.1 International
• 2.2 Domestic
3. Geography
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Business to business- The couriers market is a significant sector in the logistics industry. It involves the transportation of packages and documents from one location to another. Companies in this market offer various services, including express, economy, and same-day delivery. They use a fleet of vehicles, such as trucks and motorbikes, to ensure timely delivery. The market is competitive, with several players vying for market share. Effective communication and efficient operations are crucial for success. Companies invest in technology to streamline processes and enhance customer experience. The market is expected to grow due to increasing e-commerce sales and globalization.

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Research Analysis

The couriers market is experiencing significant growth in both domestic and international markets, driven by the rise of omnichannel retailing and international trade. With increasing internet penetration and smartphone usage, disposable incomes, and improving standards of living, online retail sales and e-commerce sales, particularly during the holiday season. Digital capabilities are essential for courier companies to compete, with platforms like WebCargo and the Validade Capabilities Platform enabling cross-border e-commerce and streamlined cross-border shipping. Automation, route optimization, advanced tracking systems, and last-mile distribution are key areas of focus for improving efficiency and customer experience. The business landscape is evolving, with same-day delivery, business-to-business, business-to-consumer, and customer-to-customer transactions becoming more common. Fintech startups are also disrupting the industry with innovative payment solutions.

Market Research Overview

In the dynamic world of logistics, the couriers market is experiencing significant growth in both domestic and international markets. Omnichannel retailing and international trade are key drivers, fueled by increased internet penetration and smartphone usage. Disposable incomes and rising standards of living have boosted online retail sales and e-commerce revenues, especially during the holiday season. Digital capabilities, such as WebCargo and the Validade Capabilities Platform, are transforming cross-border e-commerce, enabling real-time tracking and streamlined processes. Sustainability goals are shaping the sector with carbon-neutral initiatives and the adoption of electric delivery vehicles. Last-mile delivery, logistics networks, and distribution centers are being optimized through automation, route optimization, and advanced tracking systems. The e-commerce sector, including Business-to-Business, Business-to-Consumer, and Customer-to-Customer, is revolutionizing parcel shipments and delivery networks. Beyond traditional packages, medical samples, blood, organs, and other sensitive items are being transported, with a focus on temperature-controlled environments and patient care procedures. The healthcare sector is embracing e-commerce logistics for the delivery of medical supplies, lab specimens, and even organs for transplant surgeries. The future of courier services lies in digital transformation, timely delivery, and a focus on customer experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Consumer
• Business To Business
• Business To Consumer
• Consumer To Consumer
• Type
• International
• Domestic
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Infiniti Research, Inc.