Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Asia Pacific Postal Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific postal services market is positioned for steady growth, with an expected Compound Annual Growth Rate (CAGR) of about 3% during the forecast period.
Key Highlights
The Asia-Pacific region showcases a diverse landscape in postal development, with a high degree of dispersion (approximately 73%) for postal services globally.
Countries like Singapore (10th in global ranking) and China (25th in global ranking) stand out as strong performers, while smaller states like Papua New Guinea, Solomon Islands, and Samoa rank lower in the global postal services index. Singapore, the regional leader, has regained its position among the top 10 postal services globally, owing to sustained high reliability, enhanced reach, and improved resilience.
However, many countries in the Asia-Pacific, particularly in the Pacific region, continue to grapple with challenges in elevating their reliability and reach, necessitating investments in postal infrastructure and resources to drive economic and social development in the post-pandemic era.
Asia Pacific Postal Services Market Trends
Liberalisation Impacts Market Share of Designated Operators
The Asia-Pacific postal services market has witnessed a trend of liberalization, leading to increased competition among postal operators in the traditional segments of letter post, parcel post, and express mail. The designated operators (DOs) in the Asia-Pacific region hold a market share of 79.4% in the letter-post segment and 26.3% in the parcel-post segment. The express delivery of goods and documents segment accounts for 42.5% of the market share.
Approximately one-third of the 36 member countries in the Asia-Pacific region still manage postal services through government departments. DOs in both government-managed and commercialized postal services have launched new or value-added postal services to combat the challenges posed by the COVID-19 pandemic. However, the sector requires transformation to meet customer needs and seize new business opportunities, such as e-commerce and electronic and financial services, necessitating a focus on digital technologies and innovation.
E-commerce Drives Opportunities for Postal Services
The rising trend of e-commerce presents significant opportunities for postal services in the Asia-Pacific region. Consumers' increasing comfort with online shopping and the digital transformation of traditional businesses have created a demand for efficient and affordable courier services. Post offices, with their well-established national networks and expertise in last-mile delivery, are emerging as effective partners for e-commerce providers seeking cost-effective delivery solutions.
In Malaysia, Pos Malaysia Berhad, the national postal and courier service provider, is embracing digital transformation by migrating its IT infrastructure to the cloud to diversify its products and services. However, global postal services organizations need to adopt digital technologies to fully capitalize on the growth potential of e-commerce.
Asia Pacific Postal Services Industry Overview
The Asia-Pacific postal services market exhibits a somewhat consolidated competitive landscape, with major government-owned entities dominating the market share. While this presents limited room for small and medium-sized local players, the market offers potential for expansion throughout the forecast period, leading to increased market competitiveness.
Parcels and logistics hold a significant share of revenue in the Asia-Pacific postal services market, surpassing letter posts. However, the contribution of postal financial services has remained relatively stable over the past decade.
To ensure the viability of postal operators in the region, the regulatory paradigm must adapt to changing market realities, prioritizing sustainability over competition and accounting for national market conditions.
Leading players in the Asia-Pacific postal services market include DTDC EXPRESS LTD, FedEx, DHL, and India Post, along with China Post Group Corporation, Japan Post Co. Ltd, Singapore Post Limited, Korea Post, Australian Postal Corporation, Pos Malaysia Berhad, NZ Post, Pos Indonesia, Thailand Post, and Hongkong Post.
A selection of companies mentioned in this report includes
- DTDC EXPRESS LTD.
- FedEx
- DHL
- India Post
- China Post Group Corporation
- Japan Post Co., Ltd.
- Singapore Post Limited
- Korea Post
- Australian Postal Corporation
- Pos Malaysia Berhad
- NZ Post
- Pos Indonesia
- Thailand Post
- Hongkong Post
For more information about this report visit https://www.researchandmarkets.com/r/vzoj3h
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