Courier Services Market By Service Type (B2b, B2c, C2c), By Destination (Domestic, International), By End Use (Services, Wholesale And Retail Trade, Healthcare, Industrial And Manufacturing, Others): Global Opportunity Analysis And Industry Forecast, 2023-2031 , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Courier Services market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Courier Services market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get the whole report, which includes a chart and more than 100 tables and figures. – Comprehensive Analysis of COVID-19 Market Outbreak Impact and Regional Situation
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Key Segments Studied in the Global Courier Services Market
The global courier services market revenue was around US$ 382 billion in 2021 and is estimated to reach US$ 659.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2022 to 2031.
Courier service is a facility or service that allows for the quick and efficient pickup and delivery of products or documents from one location to another. A business that offers this service is known as a courier company. A courier business assesses a fee for the cargo based on its weight and the urgency of its delivery.
Factors Influencing Market Growth
Growth of the e-commerce sector and rise in demand for package delivery in time. Such factors propel the market growth.
Increase in the use of courier services by individual consumers to ship documents such as printed materials, original certificates, and others. Thus, these factors drive market expansion.
Rise in the use of services for official documents, such as passports, banking documents, and other business-related paperwork. Such factors drive market growth.
Poor infrastructure and greater shipping costs are the two main factors that constrain market expansion.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a negative impact on the market. Due to the government enacted a lockdown global supply systems halted. chains have suffered significant damage and international transportation had subject to strict regulations, especially for air traffic. Therefore, during the first few months of COVID-19, cross-border shipping was virtually impossible.
The pandemic had led to a decrease in documents and letters parcels, while e-commerce parcels have grown. During a crisis, the e-commerce and daily essentials sector is anticipated to have a beneficial impact on the courier services sector. B2C services emerged during the pandemic as B2B courier services struggled and came to an end due to the rapid expansion of the online retail and e-commerce industries.
Regional Insights
Asia Pacific is anticipated to dominate the market. Due to the rise in e-commerce, rapid population growth, rise in disposable incomes & standards of living, high government support for the development of logistics infrastructure, and expansion of global trade, the demand for last-mile delivery services in this region is anticipated to experience rapid growth in the coming years. Additionally, a considerable increase in online retail sales and a rise in the demand for fast-moving consumer goods (FMCG) are both anticipated to support the expansion of the courier services market in this region.
Leading Competitors
The leading competitors in the global courier services market are:
- United Parcel Service Inc
- SG Holdings Co. Ltd
- Yamato Holdings Co. Ltd
- Deutsche Post DHL Group
- FedEx Corporation
- Singapore Post Ltd
- Nippon Express
- PostNL NV
- DB Schenker
- Qantas Courier Limited
- SF Express (Group) Co. Ltd
- DSV AS
- Others
Segmentation Analysis
The global courier services market segmentation focuses on Service Type, Destination, End Use, and Region.
Segmentation based on Service Type
B2B
B2C
C2C
Segmentation based on Destination
Domestic
International
Segmentation based on End Use
Services
Wholesale and Retail Trade
Healthcare
Industrial and Manufacturing
Others
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