59.11% of Global Courier Market Revenue is generated by Inbound Segment

Using numerous types of conveyance, couriers deliver messages, goods, and parcels from one person to another. Multiple modes of transportation, including roads, rivers, and airways, are used to deliver the goods. To improve the consumer experience, some businesses are offering more modern services such as same-day delivery. Courier services cover the entire process of picking up a package and delivering it to the intended recipient. It also has warehouses where packages are stored and distributed to various destinations using various modes of transportation.

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Data Bridge Market Research analyses that the courier market is expected to grow at a CAGR of 7.1% in the forecast period of 2021 to 2028 and is expected to reach USD 556,792.73 million by 2028. The increasing usage of contract manufacturing, new technologies in courier supply chain network systems, increased global import and export activities, and adoption of numerous services through cellphones and internet services are the primary reasons driving the growth of the courier market. Globalization is accelerating, resulting in the expansion of cross-border courier services and prospects for the sector.

Surging adoption rate of contract manufacturing is expected to drive the market's growth rate during the forecast period

Contract manufacturing is the hiring of another company to manufacture products. It allows small business people to sell the products without obtaining a large amount of capital necessary to build and run a factory. Under contract manufacturing, numerous organizations agreed to manufacture a particular number of product as per the terms given to them by the hiring company. Outsourcing manufacturing is another term for contract manufacturing. Along with surging popularity of cost savings and efficient operations, contract manufacturing is also increasing. It permits the easy manufacturing of products and start selling them to the masses. Production outside the company increases the transportation of goods and raw materials to local and international levels and ultimately increases the adoption of courier services.

Report Scope and Market Segmentation

Segment Analysis:

The courier market is segmented on the basis of type, delivery mode, customer type, destination, and end user.   

• On the basis of type, the global courier market has been segmented into outbound and inbound. In 2021, inbound segment is expected to dominate the global courier market with 59.11% market share owing to changing demand of the consumer goods market, implementation of technologies in the tracking of goods, which in turn results in customer loyalty and satisfaction, and improved customer experience.
• On the basis of delivery mode, the global courier market has been segmented into normal delivery and express delivery. In 2021, the normal delivery segment is expected to dominate the global courier market with 69.73% market share as customers prefer to have 3-5 days shipping, compared to paying more for express shipping.

In 2021, the normal delivery segment of delivery mode segment is anticipated to dominate the courier market. 

In 2021, the normal delivery segment of this market will dominate the courier market as customers prefer to have 3-5 days shipping, as compared to paying more for express shipping. The normal delivery segment is expected reach the highest CAGR of 7.7% in the forecast period of 2021-2028.

• On the basis of customer type, the global courier market has been segmented into B2B (Business-To-Business), B2C (Business-To-Consumer) and Consumer-To-Consumer (C2C). In 2021, B2B (Business-To-Business) segment is expected to dominate the global courier market with 49.31% market share due to high-value goods being delivered in the B2B segment, multiple purchases of products, and a reduced number of cancelled orders.
• On the basis of destination, the global courier market has been segmented into domestic and international/cross-border. In 2021, the domestic segment is expected to dominate the global courier market with 73.51% market share attributed to the inexpensive nature of domestic shipments, reduced number of documentation and regulations involved, ease of convenience, and shorter shipping cycle.

In 2021, the domestic segment is projected to hold the largest share of destination segment in the courier market. 

In 2021, the domestic segment is anticipated to hold the largest share of the global courier market due to the inexpensive nature of domestic shipments, reduced documentation and regulations, ease of convenience, and shorter shipping cycle. The domestic segment is growing with a CAGR of 7.8% in the forecast period of 2021 to 2028.

• On the basis of end user, the global courier market has been segmented into wholesale and retail trade (e-commerce), medical courier, manufacturing, services (BFSI), construction, utilities and primary industries. In 2021, the wholesale and retail trade (e-commerce) segment is expected to dominate the global courier market with 28.39%market share owing to the rapid growth of the e-commerce industry, adding several delivery options for customers, real-time tracking of parcels, and better customer experience.

Major Players

Data Bridge Market Research recognizes the following companies as the major Courier market players in Courier market are FedEx (U.S.), Deutsche Post AG (Germany), United Parcel Service of America, Inc. (U.S.), Yamato Transport Co., Ltd. (A Subsidiary of YAMATO HOLDINGS CO., LTD.) (Japan), Koninklijke PostNL (Netherlands), Aramex (UAE), Singapore Post Limited (Singapore), SF Express (China), Sagawa Express Co.,Ltd. (A Subsidiary of SG Holdings Co., Ltd.) (Japan).

Market Development

• In September 2020, Singapore Post Limited (Singapore Post) announced a new pricing system for package and parcel delivery domestically and internationally. Pricing for local package and parcel deliveries was streamlined to a flat charge for each service type under the new system, and the rate structure for overseas deliveries was simplified and made more affordable. This has aided the organization in streamlining its offerings in order to provide greater value to customers.
• In August 2021, The Courier Lite franchisee model was launched by Aramex. This Courier Lite franchisee targeted high-demand areas, collecting parcels from Home Depot once a day and cultivating new business. This has aided the organization in expanding their market reach and products.
• In May 2022, Diligent Delivery Systems, announced the acquisition of Express Courier International (ECI). ECI has 26 locations throughout eight states in the southeast that provide specialized logistics solutions. Customers such as Office Depot, McKesson, The Home Depot, and Lab Corp use their transportation logistics and transportation services.

Regional Analysis

Geographically, the countries covered in the courier market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.  

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in Courier market during the forecast period 2021 - 2028

Asia-Pacific will continue to dominate the courier market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period due to the rising number of companies present and the different services the companies are offering. China accounted for maximum share in the courier market, due to new technologies in courier supply chain network systems and increasing import and export activities.

North America is estimated to be the fastest growing region in Courier market the forecast period 2021 - 2028

North America region is anticipated to grow at the highest rate during the forecast period of 2021-2028 due to the presence of major key players and increasing per capita income in this region. Additionally, technological advancement in courier supply chain network systems in this region is anticipated to enhance the market’s growth rate. U.S. accounts for second largest market as it has large usage of courier services.

COVID-19 Impact Analysis

Over the last 18 months, almost every industry on the planet has suffered a setback. This can be ascribed to severe disruptions in their respective manufacturing and supply-chain operations, resulting from multiple precautionary lockdowns and other limitations imposed by governments all over the world. The courier market is no exception. Furthermore, consumer preferences has decreased as people are now much more concentrated on removing non-essential expenses from their budgets as the wider economic situation of most people has been adversely impacted by COVID-19 outbreak. Over the forecast period, the aforementioned factors are likely to have a negative impact on the courier market's revenue trajectory.