The postal services market consists of sales of postal services by entities that provide postal services. The postal industry continues to transform itself in an era characterized by rapid globalization, technological change, and disruptive innovation. In addition, the market is expected to register slight growth due to growth in demand for on-demand delivery services in the forecast period. The Considerable rise in advances in technology, mainly including the rise of the internet and smartphone devices, has converted the manner the world is communicating. However, the market of postal offerings may further face restraints from several factors incorporating the increase in virtual transformation & highly aggressive parcel delivery system. More there is a huge possibility for the development of e-Commerce, as agencies appearing to boom the customer delight and boosting income by use of Omni-channel services with connectivity amongst on-line and physical shopping. Postal operators are adapting and modifying businesses to meet up the customer needs in the digital age, and redefining how they connect to consumers, agencies, and governments.
According to the report, “Postal Services Global Market Report 2019” Some of the key players in the market include United States Postal Service, China Post, Deutsche Post, Japan Post, La Poste. The rise in acquisitions remains a key diversification strategy for many posts. Acquisitions across the postal industry are pursued various reasons, most frequently that specialize in leveraging synergies that can arise from combining complementary business activities, or increasing revenue and market share during a key area of operations. Driven partially by a rise in competition and continued e-substitution, the postal industry has developed a robust specialize in operational efficiency to assist cut costs and sustain profits.
Some of the key trends over the postal industry consists of on-demand delivery of couriers, automated parcel terminals, and customized results for e-commerce companies is the key trend witnessed within the postal services market. The increased connectivity, rising wealth in Asia, and fundamental changes in consumer behaviour preference has resulted in massive growth for the e-Commerce market. Online consumers are increasing preference and demanding reliable, traceable, and convenient delivery. In response to trends such as an increase in delivery points, growing parcel volumes, and increased busy holiday periods, posts are employing a spread of strategies to enhance both on-time and first-time delivery success. New products & services are introduced across the postal industry, offering new ways by which customers can send and receive information via both online and offline. The postal also witnessed fast pace change in the digital mailboxes to postal apps, from digital stamps to postcard creators, and now looking to capitalize over new technologies and increased connectivity to seek out new streams of revenue
Based on type postal the services market is segmented into express and standard postal services market. Based on geography, the market is further segmented into North America, the Middle East and Africa, South America, Asia-Pacific, Eastern Europe, Western Europe. Among these regions, the North America postal services market also accounts for the largest share in the postal services market. With the ever increase in e-commerce industry and rise in the disposable income, further the scope and potential for postal services market are expected to drive significantly in the forecast period. Moreover, the continued growth in China, India and other emerging economies will further bring about important changes across the globe.
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