[221 Pages] The Global Courier Service Market Size is anticipated to be valued at around US$ 273.2 billion in the year 2018 will exhibit USD XX. XX Billion up to 2025 in coming years. The average growth of global market is excepted to 10% CAGR from 2017-2025.
Global Courier Service Market Definition
Courier service has always been an essential part of the society as they are the most effective means to transport goods and materials across different regions or places. Their importance can be realized by the fact that a number of businesses depend on courier service and they play a vital role in an individual’s life. The courier service market dynamics has changed significantly from past to present and can take different dimensions in the coming future due to changing customer requirements and advancement of technology.
Global Courier Service Market Size, Share Analysis By Region (2018-2025)
Global Courier Service Market Dynamics
Courier service market is expected to gain momentum over the forecast period, due to rising e-commerce industry and inclination of customers towards online purchase of products. The ease of convenience provided by e-commerce sale and purchase system is encouraging people to opt for it, even for their smallest of needs, which in return is favoring the growth of courier service market. The global courier service market is anticipated to be valued at around US$ 273.2 billion in the year 2018.
The rising surface courier sector and air transit courier services are expected to propel the market growth for courier service in the forthcoming years. Furthermore, enormous job opportunities provided by courier and parcel service sector is also projected to boost the growth of global courier service market. However, high consolidation of courier service market can hinder the growth of the market during the forecast period.
Global Courier Service: Regional Analysis
North America and Europe are expected to perform equally well in the global courier service market over the forecast period, owing to higher adoptation of courier services by the population living in the respective regions. Presence of key market players in both of the regions is also one of the crucial factors for the growth of courier service markets in the regions.
In Europe, people belonging to different age groups avail courier services for different purposes, which provide vendors an accurate idea about the customer’s requirement. For instance, for elderly European population safety of product packed and delivered through courier service is of utmost important, while for the younger generation speed of delivery and cheaper price is more crucial.
Courier service market in Asia Pacific is projected to grow swiftly over the forecast period, owing to rise in population in countries such as China and India, coupled with increasing governmental initiatives to improve and modify the courier service of the region. Growth in e-commerce in Asia Pacific has led people to opt for online marketplace, which in turn is fueling the growth of courier service market of the region.
Global Courier Service Market: Key Players
Major players operating in global courier service market include American Expediting, Prestige Delivery, FedEx Corp., City Link, Aramex, Dynamex, OnTrac, LaserShip, Unique Air Express, DTDC, TransForce, Bring Couriers, Express Courier, NAPAREX, Hermes Europe, Parcelforce Worldwide and SWIFT Courier Services. Key players are inclining towards merger & acquisition activities along with adopting new technologies to improve their market value and maintain their prominence in the region.
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