NEW YORK, Jan. 19, 2022 /PRNewswire/ -- According to the
research report "Courier and Local Delivery Services Market in the
US by Delivery Type and Parcel Type - Forecast and Analysis
2021-2025", the market will witness a YOY growth of 2.50% in 2021,
at a CAGR of almost 4% during the forecast period. The report
is segmented by delivery type (ground, express, and deferred) and
distribution channel (B2C, B2B, and C2C).
For more insights on YOY and CAGR, Read
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Vendor Insights
Global courier and local delivery services are fragmented and
the vendors are deploying various organic and inorganic growth
strategies to compete in the market.
The growing competition in the market is compelling vendors to
adopt various growth strategies such as promotional activities and
spending on advertisements to improve the visibility of their
services. Some vendors are also adopting inorganic growth
strategies such as M&As to remain competitive in the
market.
The report analyzes the market's competitive landscape and
offers information on several market vendors, including:
- A1 Express Delivery Service Inc.
- ArcBest Corp.
- Courier Express
- Deutsche Post AG
- General Logistics Systems BV
- NAPAREX
- Ryder System Inc.
- Spee-Dee Delivery Service Inc.
- United Parcel Service Inc.
- US Cargo
Find additional highlights on the growth
strategies adopted by vendors and their product
offerings, Read Free Sample
Report.
Key Segment Analysis
The courier and local delivery services market share growth
in the US by the ground segment will be significant during
the forecast period. The courier and local delivery services market
in the United States is highly
competitive, with established competitors as well as start-ups. In
terms of service customization and pricing differential, these
players have a high level of competitiveness. In the US courier and
local delivery services industry, however, the intensity of new
player entry is greater than the frequency of acquisition. To boost
the effectiveness of courier and local delivery operations,
established players are implementing IT capabilities into their
services.
The B2C sector by parcel type is another segment that is driving
the courier and local delivery services market. The retail grocery
market is also seeing an increase in demand for courier and local
delivery services. With the growing popularity of internet
shopping, purchasing food online is a cost-effective and handy
choice for individuals. As a result, numerous e-retailers are
boosting their investments in online food sales. As a result,
courier and local delivery service providers in the United States are likely to compete in
terms of personalized grocery products.
View FREE Sample: to know
additional highlights and key points on various market segments and
their impact in coming years.
Key Market Drivers & Trends:
The expanding B2C e-commerce market is one of the primary
reasons driving growth in the courier and local delivery services
market in the United States. The
rise of the e-commerce business is being fueled by rising Internet
penetration and rising buying power parity across the United States. In North America, the
United States is the leading contributor to the e-commerce
market. The major suppliers who provide courier delivery services
to the B2C e-commerce business in the
United States are the United Parcel Service of America and
FedEx. To achieve a competitive advantage in the market, e-tailers
are cutting lead times. Each end-user has a different demand for
courier and local delivery services. This is because customers are
willing to pay a premium for expedited product delivery. Changes in
e-tailer and end-user requirements are driving up demand for
courier services in the B2C e-commerce business.
Another key element boosting the expansion of the courier and
local delivery services market share in the United States is automation. In
the United States, autonomous
logistics is likely to gain traction in the courier and local
delivery services markets. This is because growing fuel,
maintenance, and labor costs are reducing logistic companies'
profitability. Autonomous logistics is projected to increasingly
replace manual labor as it gives more precise results and
reduces labor errors. Furthermore, it cuts the time it takes
for logistics activities by about 80% to 85%. The involvement of
robotics in logistics operations is expected to improve the
efficiency of vendors in the courier and local delivery services
market in the US by around 25%-27%.
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highlights on market Drivers & Trends affecting the
courier and local delivery services market.
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Courier And Local
Delivery Services Market Scope in the US
|
Report
Coverage
|
Details
|
Page
number
|
120
|
Base year
|
2020
|
Forecast
period
|
2021-2025
|
Growth momentum &
CAGR
|
Accelerate at a CAGR
of 4%
|
Market growth
2021-2025
|
$ 23.18
million
|
Market
structure
|
Fragmented
|
YoY growth
(%)
|
2.50
|
Regional
analysis
|
US
|
Competitive
landscape
|
Leading companies,
Competitive strategies, Consumer engagement scope
|
Key companies
profiled
|
A1 Express Delivery
Service Inc., ArcBest Corp., Courier Express, Deutsche Post AG,
General Logistics Systems BV, NAPAREX, Ryder System Inc., Spee-Dee
Delivery Service Inc., United Parcel Service Inc., and US
Cargo
|
Market
dynamics
|
Parent market
analysis, Market growth inducers and obstacles, Fast-growing and
slow-growing segment analysis, COVID-19 impact and recovery
analysis and future consumer dynamics, Market condition analysis
for the forecast period
|
Customization
purview
|
If our report has not
included the data that you are looking for, you can reach out to
our analysts and get segments customized.
|
Know more about this market's geographical
distribution along with the detailed analysis of the top
regions.
https://www.technavio.com/report/courier-and-local-delivery-services-market-in-us-industry-analysis
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