The courier, express, and parcel services (CEP) category is poised for significant growth, with an anticipated Compound Annual Growth Rate (CAGR) of 4.2% projected from 2023 to 2030. This expansion is primarily driven by the rapid ascent of e-commerce, which continues to reshape the landscape of retail. E-commerce's explosive growth fuels the surging demand for CEP services, as online businesses strive to deliver their products swiftly and efficiently to consumers. CEP providers play a pivotal role in meeting this demand, offering a diverse array of delivery options, including next-day and express delivery services.
North America's CEP market is expected to experience substantial growth, buoyed by various factors such as robust economic expansion, the surge in e-commerce sales, and the escalating need for faster and more dependable delivery solutions. Technological innovations, including the advent of self-driving trucks, and government-backed initiatives, such as the construction of logistics hubs, are set to be instrumental in propelling market growth. The process of globalization has also led to an increase in trade-related activities, necessitating a dependable and efficient courier and parcel delivery infrastructure.
In a bid to remain competitive, companies are strategically aligning themselves with technology providers and expanding their operational capacities by establishing new hubs in different regions. For instance:
In January 2022, the Mexican government announced a substantial investment of $90 million in the development of a state-of-the-art logistics hub situated in Yucatán, specifically within the Umán municipality. This cutting-edge facility will be equipped with advanced technology and infrastructure, encompassing a sorting facility, warehousing space, and a fleet of vehicles. It will cater to a wide range of cargo types, including those from the manufacturing, agriculture, and tourism sectors.
In April 2021, DHL Global Forwarding, a subsidiary of Deutsche Post DHL Group, bolstered its presence in Africa by entering into a joint venture agreement with Unicargas, a prominent logistics company based in Angola. This strategic collaboration enables DHL Global Forwarding to broaden its spectrum of logistics services in Angola and other nations across Central and Southern Africa.
In September 2021, FedEx Corp. embarked on a pioneering test project, partnering with self-driving truck startup Aurora and heavyweight vehicle manufacturer Paccar. This endeavor involved the transportation of cargo between Dallas and Houston utilizing self-driving trucks equipped with Level 4 autonomous driving technology developed by Aurora. This advanced technology allows these trucks to operate autonomously under specific conditions, although a safety driver remains present to handle any potential emergencies.
Key companies profiled - A1 Express Delivery Service Inc, Aramex International LLC, Deutsche Post DHL Group, DTDC Express Ltd, FedEx Corp., SF Express (Group) Co. Ltd, Poste Italiane SpA, Qantas Courier Limited, United Parcel Service Inc., SG Holdings Co. Ltd.
https://www.grandviewresearch.com/pipeline/courier-express-parcel-services-procurement-intelligence-report
