The latest report by IMARC Group, titled “Courier, Express and Parcel (CEP) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global courier, express and parcel (CEP) market size reached a value of US$ 394 Billion in 2021. Courier, express and parcel (CEP) refer to services that deliver goods and products through air, water, and land. The packages delivered through CEP are generally non-palletized in nature and weigh around a hundred pounds collectively. These services deliver parcels and documents to retail consumers, government agencies, and business customers. In addition to this, CEP also provides value-added services, such as express deliveries, which involve the time-bound delivery where the shipment is transported within two days or at a pre-agreed date and time. In recent years, CEP services have gained prominence across the globe owing to safe delivery options, cost-effectiveness, and the ability to track the parcel.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Courier, Express and Parcel (CEP) Market Trends:
The market is primarily driven by the significant growth of the e-commerce sector as vendors partner with courier service providers to deliver their products across domestic and international locations. In addition to this, with the recent outbreak of coronavirus disease (COVID-19) pandemic, consumers are shifting toward online shopping platforms, which is fueling the market growth. Besides this, technological advancements are helping market players to reshape the supply chain and reinvent the parcel industry. For instance, the utilization of delivery lockers, pickup points, crowdsourced deliveries, autonomous vehicles, and drone deliveries are facilitating CEP services across the globe. Furthermore, factors such as urbanization and globalization, and the rapid development of cross-border trade channels, especially across emerging nations, are providing a positive thrust to the market growth. Looking forward, the market is expected to reach a value of US$ 519.6 Billion by 2027, exhibiting a CAGR of 4.61% during the forecast period (2022-2027).
- Based on the service type, the market has been segmented into B2B (business-to-business), B2C (business-to-consumer), and C2C (customer-to-customer).
- On the basis of the destination, the market has been classified into domestic and international.
- The market has been categorized based on the type into air, ship, subway, and road.
- On the basis of the end use sector, the market has been segregated into services (BFSI- baking, financial services and insurance), wholesale and retail trade (e-commerce), manufacturing, construction and utilities, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Aramex PJSC, Deutsche Post DHL Group, FedEx Corporation, La Poste SA, Pos Malaysia Group, Poste Italiane SpA., PostNL NV, Qantas Courier Limited, Royal Mail Group Plc, SF Express Co. Ltd., SG Holdings Co. Ltd., Singapore Post Ltd., United Parcel Service Inc., and Yamato Transport Corporation.
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