Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "South East Asia Express Delivery Market: Analysis By Destination, By Application, By Region, Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.
In 2023, South East Asia express delivery market by parcel volume stood at 14.94 billion, and is probable to reach 37.99 billion by 2029. The South East Asia express delivery market by parcel volume is projected to grow at a CAGR of 16.82%, during the forecast period of 2024-2029.
The South East Asia express delivery market is fragmented. South East Asia express delivery with a five major players obtaining around half of the market. The key players are constantly investing in strategic initiatives, such as new launches, mergers & acquisitions, introducing their products to emerging markets and more, to maintain a competitive edge in this market. For instance, in November 2023, Pos Malaysia Berhad had launched its second Pos Shop convenience store, strategically located in the heart of the vibrant Brickfields community in Kuala Lumpur.
Also, in January 2024, DHL Global Forwarding partnered with Schneider Electric, the provider in the digital transformation of energy management and automation, to design and launch an industry-first multi-modal shipping model, using sustainable aviation fuels (SAFs) to help improve the agility and reduce the environmental impact of its supply chain.
South East Asia express delivery market in terms of parcel volume is driven by strong domestic e-commerce sales. Domestic markets have been growing more quickly than international markets in most regions, but the gap is narrowing significantly in some regions. Also, surge in internet penetration and augmenting economies in South East Asia have led to the growth of express delivery market.
The expanding middle class in South East Asia is contributing to increased consumer spending. Followed by, improvement in transportation infrastructure and payment system being the reason for the growth of South East Asia express delivery market. Meanwhile, in 2023, Southeast Asia witnessed an increasing number of investments in the infrastructure sector.
For instance, in March 2023, the Asian Infrastructure Investment Bank (AIIB) granted more than US$120 million to the Seraya Southeast Asia Energy Transition and Digital Infrastructure Fund (the Fund). Also, South East Asia's participation in global trade has increased, leading to a surge in cross-border e-commerce. This international trade activity fuels the demand for express delivery services for timely shipments across borders.
Market Segmentation Analysis:
Domestic segment acquired majority of share in the market in 2023 and is expected to grow with the fastest CAGR, as the region has experienced significant economic growth, leading to an expanding middle class with higher disposable incomes. This demographic often values convenience and is more likely to use express delivery services for the swift receipt of products, which lead to the growth in domestic express delivery market.
Business to Consumer segment acquired majority of share in the market in 2023 and is expected to grow with the fastest CAGR, as the exponential growth of e-commerce is a primary driver for the B2C express delivery market. Because consumers increasingly turn to online shopping, there is a higher demand for fast and reliable delivery services to fulfill orders promptly. Thus, leading to the growth of business to consumer segment in South East Asia express delivery market.
Indonesia express delivery market enjoyed the highest market share in 2023, as developing the country's road infrastructure is one of the most urgent points on the Indonesian government's agenda. This is expected to create new opportunities for logistics firms in the country. The country has strong trade relations with Australia, European countries, the US, and neighboring South East Asian countries such as Thailand and Vietnam.
This growth occurred due to the country strongly investing in upgrading its transportation services, being open to collaboration, investments in infrastructure, various developments made by companies, government issuing 13 logistics policies packages, rise in logistics center and elevated e-commerce industry.
Whereas, Singapore express delivery market is expected to grow with the fastest CAGR, as the government is focusing on sustainable development of the country with the introduction of automated and sustainable products. Sustainable technologies are integral to the new Tuas Port, which will become the world's largest automated container terminal when its fourth and final phase will be completed in 2040.
Market Dynamics
Growth Drivers
- Augmenting Demand from E-commerce
- Expanding Into Fast-growing New Markets
- Surging Economy
- Rapid Urbanization
- Improvement in Transportation Infrastructure And Payment System
- Favorable Policies
Challenges
- Lack of Infrastructure
- Excess Licensing and Regulatory
- Higher Operational Costs
Market Trends
- Rising Digital Financial Services (DFS)
- AI Techniques for Route Optimization
- Sustainable Delivery Option
- Robotics, Drones and Autonomous Vehicles
- International Cross-border Trade Activities
Key Players of the South East Asia Express Delivery Market
- Pos Malaysia Berhad
- DHL eCommerce
- Singapore Post
- J&T Express
- Thailand Post
- JNE Express
- Kerry Express
- Sicepat Express
- Ninja Van
- Pickupp Flash Express
- DPEX Worldwide
- uParcel
For more information about this report visit https://www.researchandmarkets.com/r/y4sa4e
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