Courier Software Market During the Assessment Period from 2022 to 2032, is Anticipated to Display a CAGR of 10%

The market for courier software is anticipated to reach US$ 1.4 billion by 2032, growing at a 10% CAGR throughout that time. In 2022, the market is anticipated to be worth US$543 million. The market is expanding as a result of rising SaaS use and rising investments in courier management services.

In the coming years, it is projected that the use of smart technology in courier services will significantly increase the market's size. The number of innovative apps to store data has expanded due to digitalization via the cloud. Some of the top courier services that use cutting-edge technology include Onfleet, GSMtasks, OnTime 360, and Digital Waybill.

Besides, players are introducing new technologies in the service, which will benefit the market in the forecast period. For instance, in May 2022, Pickrr, a renowned SaaS-based logistics platform, introduced 'Pickrr Advantage', value-added equipment that optimizes performance across the destination pin codes on an auto-learning mode.

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Additionally, players in the market are raising funds which is anticipated to augment the market growth in the assessment period. In May 2022, Cartwheel, an on-demand delivery management platform for couriers, retailers, and others, announced that it had raised US$ 3 Million in seed funding. The funding was led by Moonshots Capital, with the participation of Chingona Ventures and existing investors including Act One, Pitbull, and TenOneTen Ventures.

Key Takeaways from the Market Study:

• The market in the U.S is expected to hold a value of US$ 505.1 Million by 2032
• Industry in the U.K to expand at a CAGR of 8.7% during the assessment period
• By deployment, the cloud segment to dominate the industry with a CAGR of 10.1% during the forecast period.
• Market in South Korea to garner US$ 51.1 Million by 2032
• Japanese market to exhibit a CAGR of 8.4% during the forecast period
• SMEs segment, by enterprise size, is expected to dominate the market, while displaying a CAGR of 10.2% by 2032

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Competitive Landscape

Key players in the global courier software market include

Courier Software Ltd
CourierManager
Datatrac Corporation
Digital Waybill
Key Software Systems
Linbis, Inc.
Metafour UK Ltd.
Sagar Informatics Pvt. Ltd. (SIPL)
Shipox Inc
Zoom
Recent updates from the industry are:

In May 2022, Aramex, renowned courier services in the Middle East, announced an agreement to acquire Florida-based MyUS for an amount of US$ 265 Million. The initiative is focused on expanding its e-commerce operations.

• In May 2022, Technostacks, a mobile application development company that offers IT services from India and the USA, announced the launch of MENA's local courier, taxi booking, and shipment to allow consumers and businesses to locally courier packages in the MENA region. The tracking app helps in placing an order, offering shipment services, and choosing routes. Such initiatives are expected to provide a significant boost to the market in the forecast period.

• In May 2022, Trinity Industries, announced the acquisition of Quasar Platform from Cando Rail & Terminals Ltd. Quasar is an end-to-end rail logistics software platform providing a real-time data universe to freight rail shippers and operators. The acquisition would expand Trinity's digital product portfolio, including Trinsight ™, by including other capabilities such as new data visualization tools, activity-based costing, and yard management.

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