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Vietnam Express Delivery Services Market
On the basis of application, the B2B segment is anticipated to exhibit a remarkable growth during the forecast period.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, December 23, 2024 /EINPresswire / -- The Vietnam Express Delivery Services
market was valued at $0.71 billion in 2021, and is projected to reach $4.88 billion by 2030, registering a CAGR of 24.1% from 2022 to 2030. Express delivery is the fastest form of
shipping that involves the delivery of various goods and products through different mediums such as air, water, and land. The customer pays an extra shipping cost for this type of delivery as the shipment will get transported to him anywhere between 24 to 72 hours depending on the distance of the shipment. In express shipping, the price and rates are also higher than other forms of transportation.
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Growth in the e-commerce industry coupled with rise in B2C deliveries and surge in international trade services fuel the growth of the Vietnam express delivery services market . However, lack of infrastructure and higher operational cost restrain the market growth. Contrarily, increase in technological advancements in delivery services and emergence of last-mile deliveries presents new opportunities in the next few years.
The growth of value-added services in express delivery is one of the latest trends that will contribute to the growth of the market in Vietnam. Service providers in the express delivery services market in Vietnam are increasingly focusing on providing distinct types of services, such as grading & assortment of products, packaging, labeling, online tracking of parcels, mobile applications, e-mail, and SMS alerts.
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Express delivery services significantly operate on the business-to-business (B2B), business-to-customer (B2C), and customer-to-customer (C2C) models. These include personal and business items such as letters, documents, merchandise, consumer goods, and other non-palletized goods. Several express delivery service providers also offer value-added services such as packaging, labeling, billing, payment collection, return, and exchange.
By destination, the domestics segment contributed to the largest share in terms of revenue, holding more than three-fifths of the total share in 2019, and is projected to continue its lead position during the forecast period. However, the international segment is expected to portray the fastest CAGR of 23.7% from 2020 to 2027.
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By application, the B2C segment held more than three-fifths of the total share of the market in 2019, and is projected to maintain dominance in terms of revenue during the forecast period. However, the B2B segment is projected to witness the largest CAGR of 23.8% from 2020 to 2027.
By end-use, the e-commerce platform segment accounted for the largest share in 2019, contributing to more than four-fifths of the Vietnam express delivery services market, and is projected to maintain its leadership status during the forecast period. In addition, the document service segment is estimated to portray the highest CAGR of 25.1% during the forecast period. The research also discusses segments including feed and others.
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The key players profiled in this report include
GHN (Fast Delivery)
BEST Express Vietnam (BEST Inc.)
GHTK
J&T Express (Vietnam)
Kerry Express (Vietnam)
Nasco Logistics JSC
Nhat Tin Logistics
Nin Sing Logistics Company Limited (Ninja Van)
Swift247
Viettel Post
VNPost
Key Findings Of The Study
On the basis of application, the B2B segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of end use, the e-commerce platform segment is the highest contributor to the Vietnam express delivery services market in terms of revenue.
On the basis of destination, the domestics segment is the highest contributor to the Vietnam express delivery services market in term of volume.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.