DUBLIN, July 28, 2023 /PRNewswire/ — The “Courier, Express, and Parcel (CEP) Market – Forecasts from 2023 to 2028” report has been added to ResearchAndMarkets.com’s offering.
This comprehensive report provides insights into the global CEP market, including market size, growth trends, end-user segments, and regional outlook.
Market Overview:
The global courier, express, and parcel (CEP) market is projected to grow at a compound annual growth rate of 7.68%, reaching $734.054 billion in 2028 from $437.414 billion in 2021. The market is expected to witness significant growth, driven by urbanization, expanding middle-class population in emerging economies, and increasing national and international trade. The growing e-commerce industry and M&A activities among market players are further contributing to market growth.
E-commerce Industry Driving Market Demand:
The surge in the e-commerce industry has led to increased parcel delivery demand. The adoption of e-commerce retailing and digitization has also resulted in higher parcel volumes due to evolving customer expectations for faster and flexible deliveries. To meet these demands, delivery models are evolving with advanced technologies like analytics, dynamic route optimization, and artificial intelligence, enhancing delivery speed and flexibility.
Last-Mile Delivery Trend:
Retailers and CEP providers are offering same-day or next-day delivery options to meet consumer expectations for faster delivery times, driving market growth. Last-mile delivery has become a key focus for retailers, with investments and innovation in the CEP market to ensure efficient delivery for customer satisfaction.
Tech-Savvy Customers and Incentives:
The presence of tech-savvy customers and high penetration of mobile devices has increased demand for e-commerce. Tech-savvy customers expect features like delivery window selection, real-time delivery tracking, and communication with drivers. Additionally, incentives and discounts offered by e-commerce organizations drive market growth.
Retail Dominates the End-User Segment:
The retail segment is expected to hold a significant market share due to the growth of e-commerce and rising disposable income in developing countries. The healthcare industry is anticipated to witness exponential growth, with increasing importance of on-time delivery of pharmaceutical and healthcare products. The food and beverage industry is also expected to grow significantly, augmenting the demand for efficient CEP services.
North America Holds a Significant Share:
North America, led by the United States, holds a significant market share, driven by technological advancements and increasing e-commerce activities. The presence of major CEP service providers and high-tech delivery solutions further support market growth.
Key Companies Mentioned include:
- Fedex Corporation
- United Parcel Service Inc
- Deutsche Post AG
- Singapore Post Limited
- SG Holdings Co., Ltd.
- S.F. Express Co., Ltd.
- A-1 Express
- Aramex International LLC
- Allied Express Transport
- Parcelforce Worldwide
- DTDC Express Ltd.
- One World Express Inc. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/tvaf1r
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