Courier Express and Parcel Services Market Procurement Intelligence Report | SpendEdge Forecasts Spend Growth of over USD 80 Billion in the Courier Express and Parcel Services Market
SpendEdge has been monitoring the global courier express and parcel services market and the market is poised to experience spend growth of more than USD 80 billion between 2018-2023 at a CAGR of more than 5% during the forecast period. Request Free Sample Pages.
Read the 110-page research report with TOC and LOE on "The Global Courier Express and Parcel Services Market ? Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend."
Expedited delivery of products such as investigational medical products, clinical supplies, and patient samples is critical for the healthcare sector. Such a requirement is acting as one of the major spend accelerators in the courier express and parcel services market. Favorable trade policies are paving the way for uninhibited cross-border trade which is resulting in an exponential increase in the parcel volumes. This is supplementing spend growth in this market throughout the forecast period.
The automotive industry in the US is accounting for a high degree of cross-border trade with Mexico, where they have outsourced their component manufacturing units to leverage the low labor and manufacturing costs. This is resulting in sharp demand growth in the courier express and parcel services market in the US. Exponential demand from e-commerce and pharmaceuticals industries is propelling market spend momentum in APAC. It is predicted that APAC is set to gain the largest market share by the end of the forecast period.
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Insights into the market pricing trends
- Courier express and parcel services suppliers typically lease or buy vehicles. To achieve their sustainability targets, the suppliers are procuring hybrid trucks, thereby increasing expenses pertaining to vehicles. According to the courier express and parcel services price trends, this will have a significant impact on the price of procurement.
- Buyers are advised to adopt the dimensional weight pricing model in the courier express and parcel services market. In this model, suppliers charge buyers depending on the dimensions of packages (width, length, and height of a single package unit). Fees such as fuel surcharges, large package surcharges, and over maximum limits charges are added separately to the final fee.
Insights into the supply market that will have potential impacts on your procurement strategy
- Courier express and parcel services suppliers are spending on digitization to achieve transparency in pricing. Digitization is also enabling them to improve their operational capabilities through real-time tracking of shipments, load optimization, and route optimization.
- Suppliers are known to align their services based on seasonal demand. For instance, during Cyber Mondays and China Singles Day, the demand for courier express and parcel services is high. Suppliers can use strategies such as demand forecasting and route optimization to plan for and capitalize on such a surge in demand.
Some of the top Courier Express and Parcel Services suppliers enlisted in this report
- JAYANT AGRO-ORGANICS Ltd.
- Gokul Refoils & Solvent Ltd.
- Adani Wilmar Ltd.
- AMBUJA solvex Pvt. Ltd.
- ITOH OIL CHEMICALS Co. Ltd.
- R.P.K. Agrotech Exports Pvt. Ltd.
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Some of the key topics covered in this report are:
- Courier express and parcel services market spend segmentation by region
- Courier express and parcel services supply market analysis
- Regional spend opportunity for courier express and parcel services suppliers
- Courier express and parcel services suppliers cost structure
- Total cost of ownership analysis in the courier express and parcel services market
- Courier express and parcel services pricing models analysis
- Category management objectives
- Cost saving opportunities in the courier express and parcel services market
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