The global Same Day Delivery market size is projected to reach USD 132380 Million by 2026, from USD 7546.6 million in 2019, at a CAGR of 50.0% during 2021-2026.
Major factors driving Same Day Delivery Market size are the increasing demand for e-commerce and growth in prevalence for the utilization of smartphones across the world, and awareness of the Internet of Things.
The Same Day Delivery Market report offers a comprehensive overview of the industry leaders and provides information on the expertise and capabilities of these businesses. The study also covers details of the industry's competitive environment and provides information on the products provided by different businesses.
TRENDS INFLUENCING THE SAME DAY DELIVERY MARKET SIZE
The same-day delivery market size is expected to increase drastically due to increased online purchases, combined with the growth in the e-commerce businesses. Same day delivery service integrates the convenience of online retail shopping with the immediacy of physical retail stores. Ease of ordering through online platforms and reduced shipping time drives the Same Day Delivery Market size.
Also, the ongoing replacement of online sales through e-commerce platforms for stationary retail sales has led to a substantial increase in B2C shipments. Thus, the increase in shipments, coupled with customer demand for faster delivery services, is expected to fuel the same day delivery market size.
It is anticipated that the need for complex distribution infrastructure, combined with the high initial investment, would curb the growth of same day delivery market size. To prevent late deliveries, businesses operating in the same day delivery industry need to concentrate on building effective delivery infrastructure. In addition, to provide consumers with distribution facilities, the big e-commerce platforms are setting up their own logistics operations.
COVID-19 IMPACT ON THE SAME DAY DELIVERY MARKET SIZE
E-commerce is facing new obstacles in customer behavior and broad supply chain problems due to the global COVID-19 pandemic, which is expected to take a very long time to get resolved. This time of isolation and confusion shifts consumers ' purchasing habits overnight as customers move from bulk-buying to online shopping, where individuals change what they purchase, where, and how. Many governments worldwide demand that e-commerce businesses only fulfill orders for vital items, such as groceries, which are likely to impact the industry's profitability.
SAME DAY DELIVERY MARKET SHARE ANALYSIS
The B2B segment is expected to hold the largest market share during the forecast period. The B2B segment caters to end-use customers, such as manufacturers, retailers, and wholesalers. Business development is positively influenced by the advent of online B2B e-commerce platforms. Moreover, due to the heavyweight of the packages, the market share of the B2B category is higher, resulting in high shipping costs for the packages.
The Asia Pacific dominates the same day delivery market share due to an increasing number of e-commerce companies, along with the rising number of online shoppers. The rise in rapid urbanization, internet penetration, and smartphone adoption has led to this region dominating over the market share.
North America is expected to see substantial growth over the forecast period because of the presence of significant players, like FedEx, A1 Express Services Inc., and United Parcel Service of America, Inc., in the region.
Due to the involvement of well-established firms operating internationally, the industry is consolidated. In order to hold a competitive place in the industry, businesses rely predominantly on mergers, acquisitions, and joint ventures or partnerships.
In addition, by following different growth strategies, the market players concentrate on improving their market presence. These tactics help companies globally broaden their market and reinforce their products in specific regions.
The top companies in the same day delivery market are :
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