The US, Canada, and Mexico are among the significant economies of North America. Technological advancements have resulted in a highly competitive market in the region since growing populations are attracting many technological developments due to high spending power. The consumer electronics sector has flourished in the region. There is a relatively high density of consumer electronic devices, such as smartphones, in the region. This is likely to contribute to the growth of the North America express delivery market. Growth in the retail and e-commerce sector is also expected to drive the North American express delivery market by increasing the concentration of competition among the vendors. North America is the leading region in B2C e-commerce sales. It represents around 33% of the total worldwide e-commerce purchases. The region's high internet penetration drives the demand for the online retail and e-commerce industry, propelling the requirement for express delivery. As per the Census Bureau of the Department of Commerce, the US retail e-commerce sales were US$ 160.3 billion for the first quarter of 2020, an increase of 2.4% from the fourth quarter of 2019. Thus, the growth in the B2B sector is expected to create a significant demand for express delivery in the coming years, which is further anticipated to drive the express delivery market.
Favorable government policies to boost innovation and reinforce infrastructure capabilities, North America have the highest acceptance and development rate of emerging technologies. Any impact on industries is therefore projected to have a negative influence on the region's economic development. Currently, due to the COVID-19 outbreak, the US is the world's worst affected country, thus affecting the sudden stands still across all the industries present in the region. Millions of Americans sit at home in the midst of the COVID-19 crisis thereby reducing the rate of online shopping and their demand for express delivery of the purchased item across the region. However, the healthcare industry has been utilizing the services of the express delivery companies even during the outbreak of the pandemic. But the share of services utilized by other industries stands more when compared to the healthcare sector, thereby, impacting the market negatively. However, the companies across the region are taking necessary steps to reduce the impact of losses incurred during the pandemic.
Market Overview and Dynamics
The express delivery market in North America is expected to grow to US$ 94,936.66 million by 2027 from US$ 66,508.22million in 2020. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The integration of technologies, such as RFID and tags, for better handling of cargoes and parcels and avoiding human errors is expected to influence the growth of express delivery market in the near future. Rising investments by courier companies to integrate technological solutions is fueling the adoption of such technologies. For instance, over the past 37 years, Larson Express has invested money in cutting-edge equipment and applications. This investment ensures that in today's industry, they have the latest and best technologies available. These investments allow Larson Express to offer the highest levels of service in the courier industry. Moreover, they are focused on providing their clients with the most cost-effective solutions and services. Technologies utilized by the company include computerized order entry and dispatching systems, bar code scanners, and GPS tracking technologies in its entire parcel for avoiding misplacement of the same during the transportation. Similarly, Courier Express has integrated a suite of technological tools to combine customer information, process data on real-time basis, and track and enhance delivery processes. The utilization of the technological advancements would help the company to offer an enhanced customer experience to its clients. Thus, the above-mentioned factors are expected to influence the growth of the express delivery market over the forecast period.
Key Market Segments
North America express deliver market is segmented based on destination, business type, and end users. Based on destination, the North America express delivery market based on destination is segmented into domestic and international. The domestic segment accounted for the highest share in the market in 2019 and international segment is expected to be fastest growing during forecast period. Based on business type, the market is segmented into B2B and B2C. The B2B segment accounted for the highest share in 2019 and B2C sector is expected to be the fastest growing during forecast period. Based on end-user, the market is segmented into automotive, retail and e-commerce, pharmaceuticals, BFSI, IT and telecom, electronics, and others. The automotive segment accounted for the highest share in 2019 and retail and automotive sector is expected to be the fastest growing during forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on express delivery market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amazon.com, Inc.; Aramex; DHL International GmbH; FedEx Corporation; TNT Holdings B.V.; and United Parcel Service of America, Inc. among others.
Reasons to buy report
NORTH AMERICA EXPRESS DELIVERY MARKET SEGMENTATION
North America Express Delivery Market – By Destination
North America Express Delivery Market – By Business Type
North America Express Delivery Market – By End-user
North America Express Delivery Market – By Country
North America Express Delivery Market Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 66,508.22 Million |
| Market Size by 2027 | US$ 94,936.66 Million |
| CAGR (2020 - 2027) | 5.2% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Destination
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Express Delivery Market is valued at US$ 66,508.22 Million in 2020, it is projected to reach US$ 94,936.66 Million by 2027.
As per our report North America Express Delivery Market, the market size is valued at US$ 66,508.22 Million in 2020, projecting it to reach US$ 94,936.66 Million by 2027. This translates to a CAGR of approximately 5.2% during the forecast period.
The North America Express Delivery Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Express Delivery Market report:
The North America Express Delivery Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Express Delivery Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Express Delivery Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For North America Express Delivery Market
