LONDON, July 08, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s domestic couriers market report, the global domestic couriers market is expected to grow from $36.48 billion in 2020 to $39.86 billion in 2021 at a compound annual growth rate (CAGR) of 9.3%. The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $68.48 billion in 2025 at a CAGR of 14%.
Courier Market Definition
The domestic couriers market consists of sales of delivery services of small packages and parcels in metropolitan areas and urban centers within a country. The industry includes the revenues of establishments that provide sorting and transportation activities of parcels. The domestic couriers industry also includes establishments that provide local messengers, which usually deliver parcels within a metropolitan or single urban area and mostly travel on-foot or use bicycles, or with small trucks, or vans. The market includes the sales of various courier and local delivery services which find applications in various business models such as banking, financial services, and insurance (BFSI), wholesale and retail trade, professional services and manufacturing.
Courier Global Market Presence
Asia Pacific is the largest region in the global domestic couriers market, accounting for 36.9% of the total in 2020. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the domestic couriers market will be the Asia Pacific and the Middle East, where growth will be at CAGRs of 12.9% and 12.3% respectively during 2020-2025. These will be followed by Africa and South America, where the markets are expected to grow at CAGRs of 11.9% and 11.8% respectively.
Competition In Courier Industry
The global domestic courier market is fragmented, with a large number of small players. The top ten competitors in the market made up to 21.3% of the total market in 2020. Major players in the market include United Parcel Service Inc., FedEx Corporation, China Post, Royal Mail, United States Postal Service, Canada Post Corporation, SF Express Co. Ltd., and DHL Express, Yunda Holding Co., Ltd. and Shanghai YTO Express (Logistics) Co. Ltd.
The Business Research Company’s report titled Domestic Couriers Global Market Report 2021: COVID 19 Implications And Growth to 2030 covers major domestic couriers companies, domestic couriers market share by company, domestic couriers manufacturers, domestic couriers market size, and domestic couriers market forecasts. The report also covers the global domestic couriers market and its segments.
Request For A Sample Of The Global Domestic Couriers Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3032&type=smp
COVID-19 Impact On Domestic Couriers
The unprecedented outbreak of coronavirus has caused a surge in demand for domestic couriers for residential deliveries, owing to the surge in e-commerce and deliveries of food and groceries which faced a sudden increase in demand. As the infection spread globally at an unprecedented rate, so too did the demand for delivery services which allowed people to stay at home and order in the essential items.
Due to the COVID-19 pandemic, people are either not interested in in-person shopping, or are restricted by national lockdown restrictions due to social distancing norms. This is fueling the market for e-commerce. By maintaining physical distance and avoiding exposure to others, people can avail e-commerce services. According to a study by SendCloud in 2020, in the UK, before the pandemic, around 45% of the country’s online shoppers confirmed that they preferred ordering from an international online store. However, during the pandemic only around 30% of the respondents preferred online shopping from international brands. The survey also confirmed that about 43% of consumers preferred to shop at local or UK national e-commerce stores rather than shopping at international stores or giant marketplaces. This supported the demand for domestic couriers.
New Trends In Courier Industry
Market-trend-based strategies as per courier industry trends 2020 and 2021 include on demand delivery of parcels, automated parcel terminals, customized solutions for e-commerce companies, shifting focus from B2B to B2C deliveries, drone deliveries, delivery with autonomous vehicles, route optimization and e-locker delivery systems.
Courier Market Opportunities
The top opportunities in the domestic couriers market segmented by type will arise in the express segment, which will gain $202.9 billion of global annual sales by 2025.The top opportunities in the domestic couriers market segmented by application will arise in the business-to-consumer (B2C) segment, which will gain $162.3 billion of global annual sales by 2025, by end-user will arise in the wholesale and retail trade segment, which will gain $156.8 billion of global annual sales by 2025. The domestic courier market size will gain the most in China at $83.5 billion.
Domestic Couriers Global Market Report 2021: COVID 19 Implications And Growth to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Couriers And Messengers Market - By Type (Domestic Couriers Market, International Couriers Market) Type Of Coverage (Couriers And Express Delivery Services, Local Messengers And Local Delivery), By End-User (B2B, B2C, Others), And By Region, Opportunities And Strategies – Global Forecast To 2023
Drone Package Delivery Global Market Report 2021: COVID-19 Growth And Change
Local General Freight Trucking Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.
The World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.