Dublin, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The "Courier, Express, and Parcel (CEP) Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
According to this report, the global courier, express, and parcel (CEP) market is expected to grow at a compound annual growth rate of 7.68%, reaching US$734.054 billion in 2028 from US$437.414 billion in 2021.
Market Drivers:
The CEP market is projected to experience significant growth due to several key drivers:
- Surge of the E-commerce Industry: The continuous growth of the e-commerce industry has driven the demand for parcel delivery services. The increase in digitization and adoption of e-commerce retailing has led to a higher volume of parcels, catering to evolving customer expectations for faster and more flexible delivery.
- Last-Mile Delivery Trend: Consumer demands for faster delivery times have pushed retailers and CEP providers to offer same-day or next-day delivery options, leading to market growth. Efficient last-mile delivery is crucial for customer satisfaction and loyalty, driving investment and innovation in the CEP market.
- Tech-Savvy Customers: The presence of tech-savvy customers with high penetration of mobile devices has led to increased e-commerce adoption. Tech-savvy customers demand more control over the delivery experience, leading to the addition of novel features like real-time tracking and communication with drivers.
- Incentives, Discounts, and Marketing Strategies: Incentives and discounts offered by major e-commerce organizations, such as Amazon's Prime membership, provide the necessary impetus to market growth. Retailers are investing in their supply chains to improve delivery services, driving demand for CEP services.
Market Segmentation:
The CEP market is segmented based on customer type (B2B, B2C, C2C), items (medical supplies, household items, mails, luggage, others), destination (domestic, international), transport medium (air transport, road transport, sea transport), and end-user (medical & healthcare, retail & e-commerce, manufacturing, food & beverages, others).
Regional Outlook:
North America, followed by Europe, is estimated to hold a significant market share, while the Asia Pacific is projected to be among the fastest-growing regions in the CEP market during the forecast period.
Competitive Landscape:
The CEP market is dominated by key players such as FedEx Corporation, United Parcel Service Inc, Deutsche Post AG, Singapore Post Limited, SG Holdings Co., Ltd., S.F. Express Co., Ltd., A-1 Express, Aramex International LLC, Allied Express Transport, Parcelforce Worldwide, DTDC Express Ltd., and One World Express Inc. Ltd., among others.
Scope of the Study:
The report provides a comprehensive evaluation of the Global Courier, Express, and Parcel (CEP) Market, including key market drivers, trends, segmentation analysis, historical and projected market size, and market shares of key players. It also offers recommendations for companies to strengthen their market position.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $437.41 billion |
| Forecasted Market Value (USD) by 2028 | $734.05 billion |
| Compound Annual Growth Rate | 7.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/cwoli3
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