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Courier, Express And Parcel (CEP) Market to Surpass $703.33 Billion by 2029 | Key Trends & Insights
Courier, Express And Parcel (CEP) Market
How Will the Courier, Express And Parcel (CEP) Market Grow by 2025 in Terms of Size and Growth?
In recent times, the courier, express, and parcel (CEP) market has seen considerable growth. Expected to increase from $470.74 billion in 2024 to $508.25 billion in 2025, the market predicts a compound annual growth rate (CAGR) of 8.0%. Factors contributing to this growth during the historic period include a rise in e-commerce, the globalization of trade, the expansion of urban delivery networks, an increase in cross-border shipments, and amplified consumer demands for swift shipping.
What Are the Estimated Growth Rates for the Courier, Express And Parcel (CEP) Industry Through 2029?
Expectations are high for a substantial surge in the courier, express and parcel (cep) market size in the upcoming years, with a prediction to reach $703.33 billion in 2029, marking an 8.5% compound annual growth rate (CAGR). Factors prompting this potential growth include the growing need for same-day deliveries, advances in last-mile delivery systems, heightened consumer expectations for convenience, the rise in omnichannel retailing, and stricter regulations for delivery services. The forecast period also points towards trending integrations such as drone and autonomous vehicle deliveries, increasing incorporation of last-mile delivery schemas, technological breakthroughs in courier services, the emergence of crowd-shipping platforms, and the application of blockchain technology for secure parcel tracking.
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What Are the Strategic Drivers Boosting Courier, Express And Parcel (CEP) Market Performance?
The expansion of the courier, express, and parcel (CEP) market is anticipated to be spurred by the ongoing upswing in the e-commerce industry. Modern trade significantly relies on e-commerce, which encompasses online purchase and sale of goods and services. Factors propelling the growth of the e-commerce sector include higher internet accessibility, a rise in consumer inclination towards online shopping, the advent of digital payment modes, and improvements in logistics and supply chain management. The CEP sector facilitates e-commerce through the swift, trustworthy, and efficacious conveyance of goods, thereby improving customer appeasement and optimizing supply chain procedures. For instance, a report from the U.S. Census Bureau, a division of the United States Department of Commerce, revealed that in November 2023, the US online retail sector witnessed revenues of around $284.1 billion in the third quarter, reflecting a 2.3% increase from the preceding quarter. Hence, the surge in the e-commerce field is propelling the growth of the courier, express, and parcel (CEP) market.
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What Are the Segments in the Courier, Express And Parcel (CEP) Market?
The courier, express and parcel (cep) market covered in this report is segmented -
1) By Service: Standard Delivery, Express Delivery, Same-Day Delivery, Last-Mile Delivery
2) By Business Model: Business-To-Business (B2B), Business-To-Consumer (B2C), Customer-To-Customer (C2C)
3) By Destination: Domestic, International
4) By Mode Of Transport: Roadways, Airways, Railways, Waterways
5) By End Use: E-commerce, Healthcare, Manufacturing, Wholesale And Retail, Other End Users
Subsegments:
1) By Standard Delivery: Domestic Standard Delivery, International Standard Delivery, B2B Standard Delivery, B2C Standard Delivery, C2C Standard Delivery
2) By Express Delivery: Domestic Express Delivery, International Express Delivery, Time-Definite Express, Heavyweight Express
3) By Same-Day Delivery: Retail And E-commerce Same-Day Delivery, Food And Grocery Same-Day Delivery, Pharmaceutical And Healthcare Same-Day Delivery, Document And Legal Same-Day Delivery
4) By Last-Mile Delivery: Urban Last-Mile Delivery, Rural Last-Mile Delivery, Autonomous Or Drone Last-Mile Delivery, Crowdsourced Last-Mile Delivery
What Are the Key Adoption Trends in the Courier, Express And Parcel (CEP) Market?
Leading corporations in the courier, express, and parcel (CEP) market are gravitating towards strategic alliances as a way to bolster technological integration and broaden their market footprint. In essence, a strategic partnership is a cooperative endeavor by multiple organizations pooling their resources, specialist knowledge, and concerted efforts for shared aims or targets. For example, in September 2024, FedEx Corporation, an American transportation firm, declared a strategic collaboration and investment in Nimble, an AI robotics firm based in the US. This is aimed at augmenting its FedEx Fulfillment services with self-directed e-commerce fulfillment technology from Nimble. The intent of this partnership is to simplify the supply chain processes, elevate efficiency, and hasten order processing through the use of Nimble's artificial intelligence-enabled robotics.
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Which Companies Lead the Competitive Landscape of the Courier, Express And Parcel (CEP) Industry?
Major companies operating in the courier, express and parcel (CEP) market are United Parcel Service Inc. (UPS), DHL Group, FedEx Corporation, SF Express (Group) Co. Ltd., Nippon Express Co. Ltd., Yamato Transport Co. Ltd., Royal Mail Group Limited, SG Holdings Co. Ltd., YTO Express Group Co. Ltd., General Logistics Systems Group, Qantas Airways Limited, Singapore Post Limited, TNT Express, Aramex, Delhivery, Blue Dart Express Ltd., Spee-Dee Delivery Service Inc., Pos Malaysia Berhad, CitySprint, Tuffnells Parcels Express, DPEX Worldwide Express (S) Pte Ltd., One World Express Inc. Ltd.
Where Are the Key Courier, Express And Parcel (CEP) Market Opportunities by Region?
North America was the largest region in the courier, express, and parcel (CEP) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the courier, express and parcel (CEP) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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