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Express Delivery Market Size, Scope Analysis, Key Insights, Leading Key Players, And Forecast To 2033
Express Delivery Market
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According to The Business Research Company's, The express delivery market size has grown strongly in recent years. It will grow from $304.17 billion in 2023 to $330.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to customer expectations and service standards, supply chain optimization, market competition and service differentiation, last-mile innovations, shift in consumer behavior.
The express delivery market size is expected to see strong growth in the next few years. It will grow to $460 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to continued e-commerce growth, advancements in last-mile delivery solutions, rise in same-day and instant delivery, demand for sustainable practices. Major trends in the forecast period include competitive market landscape, dynamic consumer preferences, globalization and cross-border trade, environmental concern, urbanization and population density.
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Market Drivers and Trends:
The rapid growth of the e-commerce industry is significantly contributing to the growth of the express delivery market. E-commerce is described as the online sale and purchase of goods and services. Express delivery in e-commerce helps to increase both the quality and the speed with which things are delivered. For instance, according to the India Brand Equity Foundation, by 2024, India's e-commerce business is predicted to be worth USD 111 billion, and by 2026, it will be worth USD 200 billion. In addition, according to U.S. Department of Commerce, e-commerce sales in the U.S. jumped to$265.9 billion in the third quarter 2022, which as in increase of 9.1% from third quarter 2021. Therefore, the rapid growth of the e-commerce industry is expected to propel the growth of the express delivery market going forward.
Technological advancements have emerged as a key trend gaining popularity in the express delivery market. Major companies operating in express delivery are focused on adopting advanced technologies to strengthen their position in the market. For instance, in April 2022, EyeMyEye, an Indian Eyewear business, launched a new express delivery service for prescription eyeglass and UV protected sunglasses.
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Major Key Players of the Market:
Deutsche Post AG, United Parcel Service Inc., FedEx Corporation, United States Postal Service, Shanghai YTO Express Co. Ltd., La Poste Group, SF Holding Co. Ltd., DSV Panalpina A/S, Emirates Post Group, C.H. Robinson Worldwide Inc., Nippon Express Co. Ltd., Geodis SA, Ryder System Inc., GXO Logistics Inc., Bolloré Logistics, ZTO Express Inc., STO Express Co. Ltd., PostNord AB, Americold Realty Trust, BEST Inc., LaserShip Inc., Spee-Dee Delivery Service Inc., Aramex PJSC, Pos Malaysia Berhad, Lone Star Overnight, La Poste SA, CEVA Logistics AG, Kerry Logistics Network Limited, Yamato Holdings Co. Ltd., Empresa Brasileira de Correios e Telégrafos, Posta Kenya, Deutsche Bahn AG
Express Delivery Market 2024 Key Insights:
• The express delivery market size is expected to see strong growth in the next few years. It will grow to $460 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• Explosive Growth Of E-Commerce Industry Fuels Surge In Express Delivery Market
•
• Asia-Pacific was the largest region in the express delivery market in 2023
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