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Packages and documents are transported to a variety of clients, including as companies, governmental bodies, and retail outlets, through courier, express, and parcel delivery (CEP) services. It comprises moving a range of goods and products across borders using a range of transportation methods, such as air, sea, and land. The service provider charges a fee based on the weight and urgency of the package when delivering non-palletized items. Worldwide demand for courier, express, and parcel (CEP) service providers is rising right now because of their affordable prices, safe delivery options, and package tracking capabilities.
According to SPER market research, ‘Asia Pacific Courier, Express, and Parcel Market Size- By Service Type, By Destination, By Type, By End User – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Asia Pacific Courier, Express, and Parcel Market is predicted to reach USD 415.59 billion by 2033 with a CAGR of 7.18%.
Drivers: Increasing internet penetration and robust economic growth are the primary drivers of the Asia Pacific CEP market. Additionally, as cities become more urbanized, firms are forced to trade worldwide, which is increasing the demand for CEP services. The region’s growing tendency of cross-border transactions, especially in Australia, Hong Kong, Singapore, and New Zealand, is another factor propelling the market’s growth. Furthermore, because prompt delivery is essential in the e-commerce industry, CEP services are growing in popularity in the region. E-commerce companies work with courier services to ship their products both domestically and abroad. Value-added services like email and SMS notifications, mobile courier and parcel tracking, and other facilities are therefore getting increasing attention.
Challenges: The region’s wide geographic extent and uneven infrastructure development present logistical issues. It remains a logistical challenge for CEP suppliers to connect remote locations and move through a variety of terrains with efficiency. Second, the regulatory intricacies across the countries in the Asia-Pacific area create operating challenges. These difficulties include things like inconsistent trade laws and regulations pertaining to customs, which increase the administrative burden and could potentially lead to delays. Thirdly, intense competition from both local and global rivals necessitates ongoing innovation and technical investment in order to maintain service standards and grow market share.
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The COVID-19 delivery stoppage posed significant challenges for the international CEP industry, as government limitations on the supply of non-essential commodities led to a 50% decline in revenue from pre-pandemic levels. The CEP industry saw significant growth as a result of hospitals’ rising need for large machinery, medications, and medical supplies. To give CEP market players a range of options, a strong supply chain network and timely delivery are necessary for the COVID-19 immunization process. The outbreak has contributed to the expansion of the CEP business by causing an explosion in online shopping.
Additionally, some of the market key players are; Blue Dart Express, China Post, CJ Logistics Corporation, DHL Group, DTDC Express Limited, FedEx.
Asia Pacific Courier, Express, and Parcel Market Segmentation:
By Service Type: Based on the Service Type, Asia Pacific Courier, Express, and Parcel Market is segmented as; B2B, B2C, C2C.
By Destination: Based on the Destination, Asia Pacific Courier, Express, and Parcel Market is segmented as; Domestic, International.
By Type: Based on the Type, Asia Pacific Courier, Express, and Parcel Market is segmented as; Air, Ship, Subway, Road.
By End Use: Based on the End Use, Asia Pacific Courier, Express, and Parcel Market is segmented as; Services (BFSI- Banking, Financial Services and Insurance), Wholesale and Retail Trade (E-commerce), Manufacturing, Construction and Utilities, Others.
By Region: This research also includes data for Australia, India, South Korea, Japan, Rest of Asia-Pacific.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Asia Pacific Courier, Express, and Parcel Market Outlook
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