NEW YORK, June 28, 2024 /PRNewswire/ — The global courier, express and parcel (CEP) market size is estimated to grow by USD 165 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.8% during the forecast period. Rise in ftas to drive investments in courier, express, and parcel markets in emerging economies is driving market growth, with a trend towards growing integration of last-mile delivery models with courier, express, and parcel companies. However, increasing threat from sharing-based business models poses a challenge. Key market players include Allied Express Transport Pty Ltd., Aramex International LLC, Canada Post Corp., Deutsche Post AG, DTDC Express Ltd., FedEx Corp., First Flight Courier Ltd., India Post, Japan Post Holdings Co. Ltd., Korea Post, La Poste, Nippon Express Holdings Inc., One World Express Inc. Ltd., Otto GmbH and Co. KG, Royal Mail Plc, SF Express Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., United States Postal Service, and Yamato Transport Co. Ltd..
Technavio has announced its latest market research report titled Global courier, express and parcel (CEP) market 2024-2028
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Forecast period |
2024-2028 |
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Base Year |
2023 |
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Historic Data |
2018 – 2022 |
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Segment Covered |
Consumer (B2B, B2C, and C2C), Delivery (International and Domestic), and Geography (APAC, North America, Europe, Middle East and Africa, and South America) |
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Region Covered |
APAC, North America, Europe, Middle East and Africa, and South America |
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Key companies profiled |
Allied Express Transport Pty Ltd., Aramex International LLC, Canada Post Corp., Deutsche Post AG, DTDC Express Ltd., FedEx Corp., First Flight Courier Ltd., India Post, Japan Post Holdings Co. Ltd., Korea Post, La Poste, Nippon Express Holdings Inc., One World Express Inc. Ltd., Otto GmbH and Co. KG, Royal Mail Plc, SF Express Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., United States Postal Service, and Yamato Transport Co. Ltd. |
Key Market Trends Fueling Growth
The last-mile delivery (LMD) model integration with e-commerce vendors is a significant market trend, driven by the increasing demand for instant delivery services. This growth is particularly noticeable in the instant delivery market, where high capital investments are being made in startups and venture firms. The e-commerce sector is responding by introducing new delivery models, such as hub-and-spoke and LMD, to cater to customer needs. These models include postal mail run, crowd shipping, courier delivery, and delivery to lockers. Despite the popularity of instant delivery, price remains a key decision factor for over half of online customers. However, for certain product categories like medicines and groceries, customers prefer traditional purchasing methods due to longer delivery times. To differentiate themselves, major e-commerce players like Amazon, Myntra, e-bay, and Flipkart are focusing on faster delivery services, leading to increased alliances with logistics vendors and market growth during the forecast period.
The Courier, Express and Parcel (CEP) market is currently experiencing significant growth, driven by the increasing demand for fast and reliable delivery services. Domestic and international shipping volumes are on the rise, with a particular focus on e-commerce and business-to-business transactions. Technologies such as automation and real-time tracking are trending, allowing for more efficient and transparent operations. Delivery companies are also expanding their networks and services, offering new options like same-day and overnight delivery. Additionally, the use of manufacturing hubs and distribution centers is becoming more common to reduce delivery times and costs. Overall, the CEP market is evolving to meet the changing needs of consumers and businesses alike.
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Market Challenges
The Courier, Express, and Parcel (CEP) market is highly competitive, with new players, including startups and merging companies, entering the scene. These new entrants utilize technology and attractive freight rates to gain an edge. The logistics industry’s potential for technological advancements, such as robotics and ICT, remains untapped due to digitalization and labor training challenges. Partnerships between industry players and technology providers, as well as global companies’ entry, are driving the CEP industry’s digital transformation, leading to cost savings, improved efficiency, and service quality assurance. This transformation may pose a threat to market growth in the forecast period.
The Courier, Express and Parcel (CEP) market faces several challenges in providing efficient and reliable services. One major challenge is the increasing demand for faster delivery times, particularly in the e-commerce sector. Another challenge is the need to maintain a large and dispersed network of delivery centers and transportation fleets to ensure timely delivery. Domestic and international regulations also pose challenges in terms of compliance and documentation requirements. Additionally, the rise of digital technologies and automation necessitates significant investment in IT infrastructure and systems upgrades. Markets can be segmented based on services offered, such as on-demand, scheduled, and same-day delivery, and by regions including North America, Europe, Asia Pacific, and others. Competition is intense, with major players including UPS, FedEx, DHL, and TNT, among others.
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Segment Overview
This courier, express and parcel (cep) market report extensively covers market segmentation by
Consumer
1.1 B2B
1.2 B2C
1.3 C2C
Delivery
2.1 International
2.2 Domestic
Geography
3.1 APAC
3.2 North America
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1 B2B- The B2B segment of the Courier, Express, and Parcel (CEP) market involves business transactions for procurement of raw materials or finished goods. This sector contributes significantly to the supply chain and is growing moderately due to e-commerce expansion and Internet penetration. E-commerce solutions enhance B2B efficiency with features like custom pricing, catalogs, and streamlined checkout. The B2B e-commerce model is being adopted, leading to direct sales and cross-border trade. However, complexities from increased e-commerce volume, instant delivery demands, and return shipment management pose challenges for CEP service providers. Despite these hurdles, investments from B2B companies in direct selling methods and cross-border trade in emerging economies fuel market growth.
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Research Analysis
The Courier, Express and Parcel (CEP) market caters to various sectors, including retail customers, government agencies, and both business and individual clients. This industry offers efficient and reliable delivery solutions for parcels and documents via air, water, land, ensuring safe delivery options and timely delivery. The market is particularly crucial for international trade, providing trackability and immediate delivery solutions for critical items such as medical supplies, legal documents, and perishable goods. Cross-border e-commerce and international parcel deliveries are significant growth areas, with distribution industries relying on CEP services for efficient and timely delivery of parcel shipments. Emergency CEP services are also essential for delivering critical items in a time-sensitive manner. Potential clients in various industries look for CEP services that offer timely, secure, and cost-effective delivery options for their parcels and documents.
Market Research Overview
The Courier, Express and Parcel (CEP) market is a significant sector in the logistics industry, focusing on the timely transportation of documents, packages, and freight. This market caters to various sectors, including e-commerce, healthcare, and government, among others. The demand for CEP services is driven by factors such as increasing urbanization, e-commerce growth, and the need for efficient supply chain management. The market is characterized by intense competition and innovation, with players offering various services such as real-time tracking, priority delivery, and customized solutions. The CEP industry is also leveraging technology, including automation, artificial intelligence, and the Internet of Things (IoT), to enhance operational efficiency and customer experience. Additionally, sustainability is becoming a key focus area, with players exploring alternative fuel options and implementing carbon-neutral practices.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Consumer
B2B
B2C
C2C
Delivery
International
Domestic
Geography
APAC
North America
Europe
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio