Courier & Delivery Services Market Is Projected To Reach US$ 895.23 Billion With 5.8% CAGR By 2034 | Fact.MR Report

(MENAFN- GlobeNewsWire - Nasdaq) Growing Dependency of online Retailers on Efficient shipping Solutions Contributing to Rising Profitability of Courier & Delivery Service Businesses

Rockville, MD , Jan. 29, 2025 (GLOBE NEWSWIRE) -- The global Courier & Delivery Services market is analyzed at US$ 507.39 billion in 2024. The market has been projected to expand at a CAGR of 5.8% to reach a value of US$ 895.23 billion by the end of 2034.according to the latest industry analysis released by a market research and competitive intelligence provider. The growing e-Commerce industry is one of the primary factors behind the rising need for efficient shipping to meet customer demands.

There is a constantly increasing demand for courier and delivery services due to the growing e-Commerce industry. Reliable last-mile delivery is also becoming more important, especially for on-time, reliable deliveries, as several customers shop online for convenience and a greater range of products. Businesses in both urban and suburban areas are expanding their services to meet larger order volumes and provide speedy delivery options to meet the evolving demands of the digital customer.

In the assessment period, the North American region is analyzed to hold a significant amount of the global market share. Due to growing e-Commerce businesses and consumer need for reliable, speedy shipping options, the market in North America is expanding. Important businesses such as FedEx, UPS, Amazon, and others are expanding their delivery networks to meet the growing demand for same-day and next-day delivery services.

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Key Takeaways from Market Study:

• The global courier & delivery services market is projected to expand at a CAGR of 5.8% from 2024 to 2034.
• East Asia is forecasted to register revenue worth US$ 153.87 billion by the end of 2034.
• The market in South Korea is evaluated to expand at a CAGR of 5.8% through 2034.
• Market valuation of the North American region is analyzed at US$ 146.82 billion in 2024.
• The United States is estimated to reach a size of US$ 131.6 billion in 2024.
• Based on product and services, demand for surface couriers & messengers is projected to reach US$ 509.07 billion by 2034.
• The market in India is analyzed to rise at a notable CAGR of 7.9% between 2024 and 2034.
  

“Key courier and delivery service providers are investing in automation, AI, and machine learning to optimize routes and reduce fuel costs, delivery times, and operational inefficiencies,” says a Fact.MR analyst

Leading Players Driving Innovation in the Courier & Delivery Services Market:

TFI International Inc.; FedEx Corporation; Lone Star Overnight LLC; Deutsche Post AG (DHL); Japan Post Co. Ltd.; Delhivery Ltd.; The US$ Mned States Postal Service; OnTrac Inc.; SF Express Co. Ltd.; DB Schenker; Singapore Post Ltd.; DSV A/S; Purolator Inc.; Nippon Express Co. Ltd.; SG Holdings Co. Ltd.; ZTO Express Inc.; The Yamato Transport Company Ltd.; PostNL NV; Qantas Courier Limited; International Distributions Services plc

High Demand and Requirement for Surface Courier & Messenger Services:

The necessity for surface couriers and messengers is increasing due to the need for dependable and timely delivery of time-sensitive documents and supplies. For same-day or next-day deliveries, especially in cities, surface couriers provide a flexible and affordable choice because efficiency and speed are crucial to both individuals and businesses. The need for quick, safe, and economical distribution of essential materials is growing as e-commerce, legal and financial services, and corporate communication are expanding in several countries.

The fact that surface couriers offer a more ecologically friendly alternative to air freight, which is consistent with growing concern for environmental repercussions, is also driving up demand.

Courier & Delivery Services Industry News:

• In September 2024, the same-day courier home delivery service from Alto Pharmacy, a full-service pharmacy with digital capabilities, recently expanded to include fertility patients in Philadelphia, San Antonio, Colorado Springs, CO, and the surrounding areas.
  
• In July 2024, Skye Air Mobility and domestic logistics service provider DTDC Express Ltd. teamed up to introduce drone-based delivery as their new last-mile offering. This change will allow the courier business to provide its clients with last-mile drone delivery that is both sustainable and effective.
  
• In June 2024, in an exchange filing, the courier and integrated express package distribution company Blue Dart said that it has successfully started drone deliveries in partnership with drone pioneer Skye Air. Blue Dart intends to use this drone technology to enhance its logistical capabilities. A significant step toward cleaner and more effective delivery solutions is also this action.
  

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More Valuable Insights on Offer:

The study divulges essential insights into the market based on product & service (surface couriers & messengers, air transit courier services including express) and major market (business services including retailers & wholesalers, households), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).

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