Courier and parcel services help deliver various things such as packages, documents, and other important stuff in an easy and efficient manner. Benefits of utilizing these services include safe delivery of parcel, cost-effective service, and parcel tracking system; therefore, companies that provide this type of service are gaining popularity across the globe. Rise in business agreements between countries, in order to enhance the product quality and provide better service for the customer, is the major factor that is estimated to propel the courier express and parcel market during the forecast period. Introduction of new free-trade agreements is likely to encourage investment in developing regions, in order to enhance business, which in turn is anticipated to boost the courier express and parcel market during the forecast period. Increase in international trade, development of economic zones and free-trade zones, and government initiatives regarding export import regulations are likely to propel the courier express and parcel market during the forecast period.
The global courier express and parcel market can be segmented into type, application, and region. In terms of types, the courier express and parcel market can be segregated into air transport, land transport, and sea transport. The air transport segment is likely to expand significantly, as air transport facility enables rapid delivery, while other transport services take longer to deliver goods. Moreover, in terms of reliability, air transport makes a good impact as, compared to other types of transport services. These factors are anticipated to boost the air transport segment at a significant growth rate, which in turn is likely to drive the courier express and parcel market during the forecast period.
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Based on application, the courier express and parcel market can be divided into business to business (B2B), business-to-consumer (B2C), and consumer-to-consumer (C2C). The B2B segment held a major share of the market and likely to maintain its dominance during the forecast period. Expansion of the e-commerce sector and increase in consumer awareness are expected to drive the B2C segment during the forecast period. This in turn is anticipated to fuel the courier express and parcel market during the forecast period. Shifting focus from business to business (B2B) to business-to-consumer (B2C) owing to rising demand for e commerce business providing major opportunities.
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In terms of region, the courier express and parcel market can be classified into North America, Europe, Asia Pacific, and Middle East & Africa. North America and Asia Pacific held a major share of the global courier express and parcel market. The market in Asia Pacific is expected to expand at a significant growth rate during the forecast period owing to several factors such as growing urban population, increase in penetration of smartphones, rise in usage of internet, presence of international e-commerce companies, and rise in middle class population.
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Key players operating in the courier express and parcel market include A-1 Express, Allied Express, Aramex, Deutsche Post AG, FedEx, United Parcel Service of America, Inc., DX Group, and One World Express Express Inc. Ltd.
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