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Couriers and Messenger Services Market Global Report 2024
Couriers and Messenger Services Market Size
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According to The Business Research Company's, The couriers and messengers market size has grown rapidly in recent years. It will grow from $812.04 billion in 2023 to $913.42 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The growth in the historic period can be attributed to e-commerce growth, globalization, urbanization, time sensitivity.
The couriers and messengers market size is expected to see rapid growth in the next few years. It will grow to $1444.74 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to technological advancements, healthcare logistics, emerging markets, customization and personalization. Major trends in the forecast period include technological advancements, same-day and instant delivery, global trade and cross-border e-commerce.
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Market Drivers and Trends:
Courier and express delivery service providers are increasingly using automated parcel terminals. Automated parcel terminals are computer-controlled units that allow customers to collect, hand in, and return parcels around the clock. These terminals are deployed at locations with maximum footfall, such as walkways, convention centers, grocery outlets, shopping malls, convenience stores, gas stations, and railway stations. These terminals improve the quality of the delivery services network and reduce last-mile delivery management costs for the company. Automated parcel terminals are being extensively used in Europe and the global market for automated parcel delivery terminals is expected to reach $ 1.06 billion by 2025, thus indicating a significant potential for these automated systems.
Major companies operating in the courier and messenger markets are increasing their focus on introducing digital secure locks to sustain their position in the market. Digital secure locks are electronic locking systems that use advanced technology, such as encryption and authentication methods, to provide a high level of security for access control. These locks often replace traditional mechanical locks and keys and can be operated and monitored remotely using digital devices. For instance, in February 2023, BVK Technology, a Turkey-based security system company, launched an OTC courier delivery box solution. This solution involves the courier delivering the goods in a custom-made package that is secured with a keyless Bluetooth lock. To retrieve the goods, the customer uses a personal code to unlock the package. BVK Technology's courier delivery box solution is designed to offer a secure and hassle-free method for customers to receive their packages.
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Major Key Players of the Market:
Amazon.com Inc., United States Postal Service, United Parcel Service Inc., Deutsche Post AG, FedEx Corporation, SF Express Co. Ltd., Le Groupe La Poste, Canada Post Corporation, Japan Post Group, The Royal Mail, DHL, Quick Messenger Service, American Eagle Courier LLC, NPD Logistics, OnTrac Logistics Inc., Postmates, Grubhub Inc., DoorDash Inc., Uber Eats, Instacart, Deliv Inc., Caviar express Inc., Favor Delivery, Shipt, Roadie Inc., GoShare, DTDC Express Ltd., Dropoff, Quiqup, Stuart, Gophr, Zoom2u, Lalamove, Postmates Fleet, Favor Fleet, Uber Eats Driver, DoorDash Inc.
Couriers And Messengers Market 2024 Key Insights:
• The couriers and messengers market size is expected to see rapid growth in the next few years. It will grow to $1444.74 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%.
• Revolutionizing Parcel Delivery In Automated Parcel Terminals
• Enhancing Courier Services With Digital Secure Locks
• Asia-Pacific was the largest region in the couriers and messengers market in 2023
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