North America courier express and parcel market is anticipated to cross USD 330.56 billion by 2030 | Insights on trends, shares and forecast
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.
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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.
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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