Domestic Couriers Market:
The global domestic couriers market is expected to grow from $34.1 billion in 2019 to about $55.7 billion in 2020. Social distancing and closure of local stores has led to a marginal increase in demand for domestic courier services to deliver items locally including essential supplies. The market is expected to stabilize and reach $56.4 billion at a CAGR of 13.4% through 2023.
The domestic couriers market consists of the sales of the guaranteed express delivery services of small packages and parcels, in metropolitan areas, urban centers within a country. The market includes the sales of various courier and local delivery services which finds applications in various business models such as Business-to-Business (B2B), Business-to-Consumer (B2C) and Consumer-to-Consumer (C2C).
The global domestic couriers market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. APAC was the largest region in the domestic couriers market in 2019.
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In March 2018, FedEx a multinational courier delivery services company announced the acquisition of U.K. based P2P mailing Limited. P2P facilitates cross border e-commerce deliveries with the asset-light model which relies on a proprietary IT platform to string together final mile delivery. The company offers a wide range of delivery services targeting varying customer needs.
The domestic couriers market covered in this report is segmented by type into ground, express, deferred. It is also segemtned by application into business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C).
E-locker delivery system is a computerized electronic locker system used for the security of delivering and retrieving or recovering parcels. Each locker station may include a set of individual lockers of various sizes, each with an electronic controlled release operated door latch. Each locker station has an input/output device(s) that is electronically connected to an internal computer. This makes an ideal solution for apartments, dormitories, businesses, and other applications that handle the ongoing delivery of packages and parcels. For instance, Packcity is an automated electronic locker system that securely stores and distributes inbound parcels, informs recipients that a parcel has arrived and allows 24/7 collections. Packcity enables to store and distribute a large volume of incoming parcels. Its easy-to-use interface allows recipients to track parcels and inform them about the arrival of their parcel. Since the emergence of E-locker delivery system solves the problems of rising parcel deliveries, it is anticipated to be an important trend that drives the domestic courier market.
E-commerce trade is expected to be one of the major drivers of the global domestic courier service market. As the buying and selling of goods and services over the internet continues to grow, the courier or parcel volumes will increase and therby drive the demand for courier delivery services. E-Commerce or electronic commerce or internet commerce refers to is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. Few examples of E- commerce websites include the online stores such as Amazon, Ebay, Quikr, Olx and more. The emergence of ecommerce has made products easier to discover and purchase through online retailers and marketplaces and benefited Independent freelancers, small businesses, and large corporations by enabling them to sell their goods and services at a higher scale. Thus, the growing E-commerce industry is anticipated to drive the domestic courier market in the forecast period by enhancing the courier or parcel delivery service opportunities within the country.
In-house delivery networks are expected to restrict the growth of the courier and local delivery services market in the US. In-house delivery refers to the retailers using their own dedicated delivery staff and own fleet of vehicles to deliver orders to customers. For instance, Tesco, a British multinational grocery and merchandise retailer uses in-house delivery quite successfully and the other example includes pizza delivery by Domino’s company. Thus the increasing adoption of in-house delivery units by retailers is anticipated halt the growth of courier and local delivery service market in the forecast period.
Major players in the domestic couriers market are , FedEx Corporation, United Parcel Service Inc., A-1 Express , SF Express Co. Ltd., , UPS Limited, DHL Express, Yunda Holding Co., Ltd. , Royal Mail, and Japan Post Group.
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