Deployment of Digital Tools and Parcel Lockers for Better Delivery is Driving the North America Courier Express and Parcel Market Growth
According to our latest market study on "North America Courier Express and Parcel Market Forecast to 2030 – Regional Analysis – by Business Type, Product Type, Mode of Transport, Destination, and End User," the market is expected to grow from US$ 215.80 billion in 2022 to US$ 330.56 billion by 2030; it is anticipated to register a CAGR of 5.5% from 2022 to 2030.
Digitalization is a vital trending strategy for parcel delivery companies. Companies are spending billions of dollars in digitizing their delivery systems. For instance, in October 2019, DHL planned to spend US$ 2.19 billion on a digitization strategy for the next five years. The company has planned to improve its customer and employee experience and enhance its operational excellence through digitization. These digitization initiatives include modernizing the IT systems of all business units for the state-of-the-art application portfolio of parcel delivery. DHL has planned to modernize its IT systems by integrating new technologies to optimize the transaction processes and improve the network by reducing fuel consumption and automating the system.
North America Courier Express and Parcel Market Size and Forecast (2020 - 2030), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Business Type (B2C, B2B, and C2C), Product Type (IMP Documents and Parcels), Destination (Domestic and International), Mode of Transport (Groundways, Waterways, and Airways), End User (BFSI, Retail, Manufacturing and Construction, and Others), and Country
North America Courier Express and Parcel Market Share by 2030
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UPS has also moved toward digital technology initiatives to optimize its business units. The company implemented RFID tags on its parcel delivery packages in its 101 US sorting centers. This tag has higher traceability of products for better visibility from the manufacturer to the distribution centers.
The rising trend of parcel lockers for retailers driving the North america courier express and parcel market growth. In the US, there are around 77,000 PUDO delivery terminals and parcel lockers of various international courier providers, such as FedEx, Amazon.com, Inc., DHL, UPS, and USPS.
- Also, in March 2021, Lowe's Companies Inc., a home improvement retail company, installed parcel-holding lockers at its 1,700 stores across the US. The company has planned to capitalize on the growing consumer buying trend online and pick them up at parcel locker stores. The lockers are used at the company's locations across New York, Philadelphia, Charlotte, North Carolina, and Mooresville.
- In September 2022, Quadrant Global Pte. Ltd. launched oversized parcel lockers to meet the increasing demand for the delivery of large goods. The new model expanded the range of products that can be picked from a locker, fitting most online purchases and fully integrating with other existing parcels pending by Quadient Locker solutions.
Such rising digitization spending and increased parcel locker adoption by retailers and consumers are trending in the north america courier express and parcel market.
The North America courier express and parcel market share, by destination, is bifurcated into domestic and international. The domestic segment is projected to account for a larger courier express and parcel market share, primarily owing to the rising demand for domestic couriers among businesses and merchants across North American countries. In 2022, the total parcel shipments reached around 21.2 billion, 683 parcels per second, and around 59 million parcels were delivered daily. In the US, the domestic parcel shipments per person reached approximately 65 and around 166 boxes per household. In 2022, the parcel shipments slightly declined by 2% owing to supply chain disruption, high labor prices, an increase in the inflation rate, and the volatility of oil and gas prices.
United Parcel Service Inc, Purolator Inc, TForce Logistics LLC, Lone Star Overnight LLC, Amazon.com Inc, Deutsche Post AG, Intelcom Courrier Canada Inc, Updater Services Ltd., Better Trucks Inc, OnTrac Logistics Inc, Canada Post Corp, Canpar Express Inc, General Logistics Systems BV, FedEx Corp, and Pitney Bowes Inc are among the key players profiled during this study on the North America courier express and parcel market. In addition, several other important North America courier express and parcel players were studied and analyzed during this study to get a holistic view of the market and its ecosystem.
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