Portland, OR, Nov. 15, 2022 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global courier services market was pegged at $381 billion in 2021, and is projected to reach $658.3 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031. The report provides an in-depth analysis of top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an essential and helpful source of information for leading market players, investors, new entrants, and stakeholders in formulating new strategies for the future and taking steps to strengthen their position in the market.
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Courier Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $381 billion |
| Market Size in 2031 | $658.3 billion |
| CAGR | 5.7% |
| No. of Pages in Report | 286 |
| Segments Covered | Type, Destination, End Use, and Region |
| Drivers | Development of e-commerce industry |
| Surge in demand for fast delivery of packages | |
| Opportunities | Technological advancements |
| Restraints | Poor infrastructure |
| High logistics costs |
Covid-19 Scenario
- The Covid-19 pandemic fueled the growth of the e-commerce industry across the globe. However, the lockdowns disrupted the supply chain and hampered manufacturing of goods.
- However, several governments imposed lockdowns in their countries to curb the spread of the virus, which hampered physical marketplaces.
The global courier services market is segmented on the basis of mode of propulsion, application, end use, and region. Based on service type, the B2C segment is projected to portray the highest CAGR of 6.2% during the forecast period. However, the B2B segment held the lion’s share in 2021, accounting for nearly three-fifths of the market.
Based on destination, the international segment is anticipated to register the highest CAGR of 6.4% during the forecast period. However, the domestic segment dominated the market in 2021, contributing to more than half of the market.
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On the basis of end use, the wholesale and retail trade segment is projected to register the highest CAGR of 6.7% during the forecast period. However, the services segment held the largest share in 2021, accounting for nearly one-third of the market.
The global courier services market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Asia-Pacific is estimated to manifest the highest CAGR of 7.1% during the forecast period. In addition, the region held the largest share in 2021, contributing to around two-fifths of market.
The global courier services market report includes an in-depth analysis of the major market players such as FedEx Corporation, SF Express (Group) Co. Ltd., Deutsche Post DHL Group, United Parcel Service Inc., Yamato Holdings Co. Ltd, Qantas Courier Limited, DB Schenker, SG Holdings Co. Ltd, PostNL NV, Singapore Post Ltd., Nippon Express, DSV AS.
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The report analyzes these key players in the global courier services market. These players have adopted various strategies such as new product launches, expansion, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of every market player.
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