According to the report analysis, ‘Couriers And Messengers Global Market Opportunities And Strategies To 2023’ states that in the couriers and messengers global market there are several corporate which presently functioning more effectively for leading the highest market growth and dominating the handsome value of market share around the globe during the short duration while spreading the awareness related to the applications of such, implementing the profitable strategies, analyzing and studying the strategies and policies of the government as well as competitors, decreasing the linked prices, employing the young work force, developing the applications of such, delivering the better consumer satisfaction, and establishing the several research and development programs includes United Parcel Service, Inc., FedEx Corporation, United States Postal Service, Deutsche Post DHL Group, SF Holdings and others.
The worldwide couriers and messengers market reached a value of approximately USD 541.6 billion during 2019, having increased at a compound annual growth rate (CAGR) of 9.3% since 2015, and is predicted to grow at a CAGR of 11.1% to nearly USD 824.9 billion by 2023.
Additionally, the growth in the historic period resulted from developing the demand from medical and health care industries, massive growth in e-commerce, increment in consumer spending, and emerging markets growth. Elements that negatively affected growth in the historic duration were growth in crude oil prices, and limited supply chain visibility. Whereas, going forward, increment in cross border trade, restaurant meals delivery services, speedy augment in the business activity, grocery delivery services, economic growth, abridged logistics cost, reduced oil prices, and COVID pandemic will drive growth. Aspect that could limit the growth of the couriers and messengers’ market in the future involves the implementation of in-house delivery.
Although, the couriers and messengers’ market is classified by type of service into domestic couriers and international couriers. The domestic couriers market was the prime segment of the couriers and messengers’ market, dominating for USD 437.92 billion or 80.9% of the total during 2019. The international couriers market is predictable to be the fastest-growing division going forward at a CAGR of 11.5%.
The couriers and messengers’ market is also categorized by type of coverage into ‘local messengers and local delivery’ and ‘couriers and express delivery services’. Furthermore, the couriers and express delivery services market was the major segment of the couriers and messengers’ market, registering for USD 507.5 billion or 93.7% of the total during 2019. The local messengers and local delivery market is predicted to be the fastest-growing sector going forward at a CAGR of 14.9%.
The couriers and messengers’ market is sectored by type end user into B2B, B2C and numerous others. The B2B end use courier market was the chief segment of the couriers and messengers’ market, dominating for USD 314.2 billion or 58.0% of the total during 2019. The B2C end use courier market is predictable to be the fastest-growing sector going forward at a CAGR of 16.0%.
Not only has this, based on the region, the Asia Pacific was the greatest region in the couriers and messengers’ market, dominating for 35.1% of the international market during 2019. It was followed by North America, Western Europe and then the other economies. Going forward, the wildest augmenting regions in the couriers and messengers’ market will be the Asia-Pacific and Middle East, where growth will be at CAGRs of 15.7% and 13.9% respectively. These will be shadowed by Africa and the Eastern Europe, where the markets are probable to increase at CAGRs of 13.7% and 13.0% respectively.
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Ankur Gupta, Head Marketing & Communications