Portland, OR, May 20, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Vietnam express delivery services market generated $632.6 million in 2019, and is estimated to reach $2.19 billion by 2027, witnessing a CAGR of 22.4% from 2020 to 2027. The report offers an extensive analysis of changing market trends, key segments, competitive scenario, top investment pockets, and regional landscape.
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Growth in the e-commerce industry coupled with rise in B2C deliveries and surge in international trade services fuel the growth of the Vietnam express delivery services market. However, lack of infrastructure and higher operational cost restrain the market growth. Contrarily, increase in technological advancements in delivery services and emergence of last-mile deliveries presents new opportunities in the next few years.
Covid-19 Scenario:
- The outbreak of the pandemic led to flight cancellations, travel bans, and quarantines, which resulted in decelerated express delivery service activities across the world.
- The e-commerce and daily essentials goods industry is expected to positively affect the express delivery services industry during the COVID-19 outbreak in Vietnam. As there has been a growth in e-commerce parcels due to an increased number of people shopping from home during the pandemic.
- B2B express delivery services were put on a halt whereas B2C emerged during the pandemic, owing to rapid growth of the online retail and e-commerce industry.
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The report offers detailed segmentation of the Vietnam express delivery services market based on application, end use, and destination.
By application, the B2C segment held more than three-fifths of the total share of the market in 2019, and is projected to maintain dominance in terms of revenue during the forecast period. However, the B2B segment is projected to witness the largest CAGR of 23.8% from 2020 to 2027.
By end-use, the e-commerce platform segment accounted for the largest share in 2019, contributing to more than four-fifths of the Vietnam express delivery services market, and is projected to maintain its leadership status during the forecast period. In addition, the document service segment is estimated to portray the highest CAGR of 25.1% during the forecast period. The research also discusses segments including feed and others.
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By destination, the domestics segment contributed to the largest share in terms of revenue, holding more than three-fifths of the total share in 2019, and is projected to continue its lead position during the forecast period. However, the international segment is expected to portray the fastest CAGR of 23.7% from 2020 to 2027.
Leading players of the Vietnam express delivery services market analyzed in the research include GHN (Fast Delivery), GHTK, J&T Express (Vietnam), Kerry Express (Vietnam), Nasco Logistics JSC, Nhat Tin Logistics, Nin Sing Logistics Company Limited (Ninja Van), Swift247, Viettel Post, and VNPost.
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