New York, July 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Express Delivery Global Market Report 2022" - https://www.reportlinker.com/p06284353/?utm_source=GNW
Ltd., Yamato Transport Co. Ltd., Deutsche Post DHL Group, La Poste SA, Pos Laju, STO Express Co., and ZTO Express.
The global express delivery market is expected to grow from $247.86 billion in 2021 to $276.30 billion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The express delivery market is expected to reach $368.85 billion in 2026 at a CAGR of 7.5%.
The express delivery market consists of sales of express delivery services by entities (organizations, sole traders, and partnerships) that provide the fastest form of shipping.Express delivery services assemble, transport, and distribute products in a timely manner while tracking and maintaining control of the goods along the service’s supply chain.
The consumer must pay a higher fee for fast delivery, and the product is delivered to the customer within 24 to 72 hours.
The main types of services in express delivery are online and offline.B2B orders are frequently in bulk orders that are shipped through freight or parcel for fewer orders.
B2B is also deal wholesale deal with express delivery.The different business models include B2B, B2C, and C2C and involve various destinations such as domestic, and international.
It is employed in several sectors including services, wholesale and retail trade, manufacturing, construction, utilities, and others.
Asia Pacific was the largest region in the express delivery market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the express delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rapid growth of the e-commerce industry is significantly contributing to the growth of the express delivery market.E-commerce is described as the online sale and purchase of goods and services.
Express delivery in e-commerce helps to increase both the quality and the speed with which things are delivered.For instance, according to the India Brand Equity Foundation, by 2024, India’s e-commerce business is predicted to be worth US$ 111 billion, and by 2026, it will be worth US$ 200 billion.
In addition, according to United Nations Conference on Trade and Development, global e-commerce sales jumped to $26700 billion in 2019. Therefore, the rapid growth of the e-commerce industry is expected to propel the growth of the express delivery market going forward.
Technological advancements have emerged as a key trend gaining popularity in the express delivery market.Major companies operating in express delivery are focused on adopting advanced technologies to strengthen their position in the market.
For instance, in May 2019, DHL Express, a Germany-based logistics company launched a fully automated and smart drone delivery service to tackle the express delivery challenges in urban areas of China. This is designed with smart and secure flight control modules that will help in vertical take-off and landing, visual identification, high-accuracy GPS, fully automated flight, smart flight path planning, and real-time scheduling.
In May 2021, Tata Digital, an India-based IT service management company acquired a 64% stake in BigBasket for an amount of $219 million.Through this acquisition, Tata Digital will be benefited from BigBasket for its vision of a large consumer digital ecosystem.
BigBasket is an India-based e-grocer that provides express delivery services.
The countries covered in the express delivery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284353/?utm_source=GNW
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