New York, Feb. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Domestic Couriers Global Market Report 2023" - https://www.reportlinker.com/p06250376/?utm_source=GNW
The global domestic couriers market will grow from $54.84 billion in 2022 to $61.30 billion in 2023 at a compound annual growth rate (CAGR) of 11.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The domestic couriers market is expected to grow to $93.30 billion in 2027 at a CAGR of 11.1%.
The domestic couriers market includes revenues earned by entities by providing shipping services for small parcels, documents, and other products that can be delivered through online shopping platforms.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Domestic couriers provide shipping services for small packages and parcels in metropolitan areas and urban centers within a country to deliver small parcels and documents in a short period of time, reduce the risk of loss, and offer better security as compared to other shipping methods to improve customer satisfaction.
Asia Pacific was the largest region in the domestic couriers market in 2022.North America was the second largest region in the domestic couriers market.
The regions covered in the domestic couriers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The domestic couriers market covered in this report is segmented by type into ground, express, and deferred.Express domestic couriers refer to the fastest form of shipping.
The customer pays an extra shipping cost for this delivery, as the shipment will be transported anywhere between 24 and 72 hours. It is also segmented by application into business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer (C2C), and by end-user into BFSI, wholesale and retail trade, construction, manufacturing, and others.
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 volume of courier or parcel deliveries will increase and thereby drive the demand for courier delivery services.
E-commerce, or electronic commerce, or internet commerce, refers to 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.
A few examples of e-commerce websites include 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 has benefited independent freelancers, small businesses, and large corporations by enabling them to sell their goods and services on 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 markets in the US.In-house delivery refers to 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 to halt the growth of the courier and local delivery service markets in the forecast period.
The E-locker delivery system is a computerised electronic locker system used for the security of delivering, retrieving, or recovering parcels.Each locker station may include a set of individual lockers of various sizes, each with an electronically 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 the storage and distribution of 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 the E-locker delivery system solves the problem of rising parcel deliveries, it is anticipated to be an important trend that drives the domestic courier market.
In August 2021, Delhivery Limited, an India-based logistics provider for e-commerce companies, acquired Spoton Logistics Private Limited for an amount of $200 million.Through this acquisition, Delhivery will strengthen its business-to-business delivery and end-to-end supply chain capabilities, employee strength, and warehousing services to strengthen its position in the logistics business.
Spoton Logistics Private Limited is an India based logistics and supply chain solutions company pioneering in packaging and delivery of domestic and international couriers’ deliveries.
The countries covered in the domestic couriers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The domestic couriers market research report is one of a series of new reports that provides domestic couriers market statistics, including domestic couriers industry global market size, regional shares, competitors with a domestic couriers market share, detailed domestic couriers market segments, market trends and opportunities, and any further data you may need to thrive in the domestic couriers industry. This domestic couriers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06250376/?utm_source=GNW
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