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Express Delivery Market to grow up to US$ 495.8 billion by 2031, at a CAGR of 5.9%
Global Express Delivery Market report from Global Insight Services is the single authoritative source of intelligence on Express Delivery Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Express delivery is the fastest form of shipping that involves the delivery of various goods and products through different mediums, such as air, water, and land. The customer pays an extra shipping cost for this type of delivery, as the shipment will get transported to him anywhere between 24 to 72 hours, depending on the distance of the shipment. In express shipping, the price and rates are also higher when compared with other forms of transportation.
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Market Drivers and Trends
Developing cross-border trade channels, especially in emerging nations, has enhanced international trade and B2C shipment adoption. Also, the growth of cross-border e-commerce coupled with rapid globalization is the key factor for developing international trade in the country. Attributed to factors such as unavailability of products in the domestic market, affordability, and better quality, people prefer to buy things from international websites. Therefore, growth in cross-border e-commerce sales led to an increase in the import volume of international parcels, which fuels the demand for express delivery services in the country.
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Global Express Delivery Market Segmental Overview
The report analyses the global express delivery market based on destination, business type, end user, and region.
Global Express Delivery Market by Destination
Based on destination, it is bifurcated into domestic and international. The domestic segment is expected to have the largest express delivery market share in 2021. Domestic express delivery is a fast and common service best suited to small and medium-sized packages. Send packages easily across the country's borders with delivery to most business locations and postcodes on the next working day. This is a perfect option for time-sensitive and urgent parcels, with complete monitoring available to help consumers keep an eye on where their package is. For instance, DHL International GmbH., offers local express delivery services. Due to multiple benefits, the domestic segment is expected to receive the main market attraction resulting in market growth.
Global Express Delivery Market by Business Type
Based on business type, it is bifurcated into B2B and B2C. The B2B segment is expected to dominate the market during the forecast period. B2B express delivery refers to delivering packages couriers and other important documents or products of businesses to other enterprises. Express delivery is highly adopted by businesses to courier products such as documents on urgent basis to their client companies in order to maintain continuous and smooth daily business processes. Documents include important papers such as legal and financial documents, which surges the demand for instance or same day delivery to the other organization in order to minimize any risk of misplacement, which may cause severe losses to both the companies. Due to the abovementioned factors, the B2B segment are expected to dominate the market during the forecast period.
Global Express Delivery Market by End User
Based on end user, it is segmented into BFSI, automotive, pharmaceuticals, IT and telecom, electronics, retail and ecommerce, and others. The automotive segment is expected to be the largest segment in the express delivery market in 2021. The automotive sector utilizes express delivery services to transport manufactured cars from manufacturing units to various sales points within and outside the country's borders. Various forms of transportation are used for automotive transportation, such as road, rail, overseas, and air. Thus, the automotive segment will likely hold a major market share in 2021.
Geographical Analysis of Global Express Delivery Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to hold the majority of the market share in 2021. This is attributed to the rise in e-commerce, high population growth, rising disposable incomes & standards of living, high government support for development of logistics infrastructure and growth in international trade. This, in turn, boosts the demand for express delivery in the Asia Pacific region.
Major Players in the Global Express Delivery Market
The key players studied in the global express delivery market are AsstrA-Associated Traffic AG (Switzerland), Courier Express (US), Delhivery Limited (India), Deutsche Post DHL Group (Germany), DTDC Express Limited (India), Ecom Express Limited (India), Express Delivery Services (India), FedEx Corporation (US), S.F. Express Co., Ltd. (China), and TCI Express Limited (India).
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