Same-Day Delivery Market Worth Observing Strong Growth by FedEx; A1 Express Services Inc.; United Parcel Service of America, Inc.

The global same-day delivery market was valued at USD 4.3 billion in 2019, growing at a CAGR of 19.3% during the forecast period.
Same-day delivery is defined as the delivery of products in less than 24 hours, preferably within the same day. World Trade Organization (WTO) has predicted a severe decline in international commerce, estimating a contraction of between 13% and 32% in 2020. The organization has also indicated that global trade's impact is anticipated to exceed the slump caused by the financial crisis of 2007–2008. Experts fear that the pessimistic scenario would lead to a decline in world trade similar to that of the 'great depression in a significantly shorter period.

The manufacturing slowdown in China, the central hub of many global business operations, could result in a loss of USD 50 billion in exports across international value chains, according to the United Nations Conference on Trade and Development (UNCTAD). Any disruption in manufacturing in one part of the world has a ripple effect on global economic activity due to interconnected value chains.

China's manufacturing Purchasing Managers Index (PMI) fell to its lowest readings in almost two decades. Such a drop implies a 2% annual reduction in exports. Precision instruments, machinery, automotive, and communication equipment are some of the worst affected sectors, as per UNCTAD.

The affected economies include the European Union (USD 15.6 billion), United States (USD 5.8 billion), Japan (USD 5.2 billion), Republic of Korea (USD 3.8 billion), Taiwan Province of China (USD 2.6 billion), and Vietnam (USD 2.3 billion). This is significantly hampering the overall last-mile delivery market growth. While the initial pandemic response has mostly run its course, and the economy is reopening, businesses are under pressure to improvise their delivery systems by adding capacity, extending hours, and branching out into more products.

Grab a Free Sample PDF copy of the Same-Day Delivery Market Report 2021 @ 
https://straitsresearch.com/report/same-day-delivery-market/request-sample

The Major Players Covered in this Report: FedEx; A1 Express Services Inc.; United Parcel Service of America, Inc.; Aramex; Deliv; Deutsche Post AG; Courier Express; Jet Delivery, Inc.; Dropof, Inc.; XPO Logistics, Inc., & More...

By Type, B2B, B2C, C2C,
By Service, International, Domestic

View Full Report @ https://straitsresearch.com/report/same-day-delivery-market/

Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Same-Day Delivery in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Same-Day Delivery market during the forecast period 2021-2029. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Same-Day Delivery and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Same-Day Delivery. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.

Impact of COVID-19:
The impact of COVID-19 has a devastating effect on all industry verticals globally. The growth of same-day delivery has slightly decreased amid pandemic, as governments haveshutdown cross border activities temporarily, travelling and other activities to curb the pandemic. This results in the inability to scale deliveries deliver on same-day delivery expectations, and increasing operational costs that are rapidly feeding into the bottom lines of businesses. However, the domestic e-commerce services of essential commodities have lead to the survival of companies amid COVID-19.

To manage the situation efficiently, savvy businesses are leveraging advanced crowdsourcing tools, which can be referred to as a process that empowers shippers, retailers, and grocery stores to dodge the middlemen and directly reach out to temporary or part-time delivery executives.

View this report with a detailed description and TOC @ 
https://straitsresearch.com/report/same-day-delivery-market/toc

Key Development:
In April 2020, Walmart Inc. has launched Express Delivery a new service that delivers more items from the store than ever before to customers’ doors in less than two hours. This enables Walmart to increase customers integration during Pandemic COVID-19.

In September 2019, UPS partnered with online logistics solutions, HubBox to expand e-commerce delivery options for consumers and retailers worldwide.

In September 2020, Air City and Seko Logistics partnered to launch an international parcel delivery service in the U.S. This new service enables to produce savings of 25-50% compared to the Universal Postal Union (UPU) rates, thereby enhancing customers’ experience.

Buy Full Report with Detail Analysis with COVID-19 Impact –https://straitsresearch.com/buy-now/same-day-delivery-market/global/

Would you like to discuss Same-Day Delivery Market challenges with the experts at Straits Research?

For more details, please contact us -
Straits Research
Email: sales@straitsresearch.com
Address: 825 3rd Avenue, New York, NY 10022
Tel: +1 646 480 7505, +44 208 068 9665
Website: https://straitsresearch.com/

About Us:
Regardless of whether you're looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with what customers purchase. We overcome the issues of our customers by recognizing and deciphering just the target group, while simultaneously generating leads with the highest precision. We seek to collaborate with our customers to deliver a broad spectrum of results through a blend of market and business research approaches.

This release was published on openPR.