17-Jun-2021 | Facts and Factors
According to a Facts and Factors report, the global Same-Day Delivery Market generated revenue of USD 5.86 Billion in 2020; further, the revenues estimates are anticipated to rise to around USD 17.25 Billion by 2026, increasing at a CAGR of around 19.7% from 2021 to 2026.
Same-day delivery is a shorter time method through which the product is delivered from producers to the end customer. Owing to the same-day delivery model, the logistics sector delivery services gained momentum as they offer profitable company development and chances for service providers to expand. Furthermore, because of the growing demand for the product in a shorter time frame, producers chose fast product delivery that offered attractive market growth prospects. Furthermore, various benefits have been provided by the services provided the same day, which contribute to the expansion of the worldwide market for same-day delivery, enhancing customer experiences in decreasing the costs of logistics services.
The Same-day delivery market is divided based on technology, type, and region. On basis of type, the market is classified into B2B andB2C. On the basis of application, the market is classified into retailers and e-commerce.
Top Market Players
The key players in the same-day delivery market are Same Day Delivery, Inc., 1-800 Courier, NJLS Couriers, Aztec Messenger LLC, RDS Same Day Delivery, Amazon Logistics, Tailwind Delivery, American Expediting, FedEx, D.C. Express, Inc., Newark, Econo-Courier, BKS Sameday Courier, LLC, Competitive Courier, UPS, USA Couriers, and New Jersey Lawyers Service, among others.
COVID-19 Impact Analysis
With the emergence of COVID-19, the worldwide supply chain and logistical operations have been dramatically reduced, as have aircraft cancellations, travel prohibitions, and quarantines. As a result of the epidemic of coronaviruses, significant supply chains are impeded throughout the air, freight, and maritime industries in the logistical and transportation industries but differently. The COVID-19 epidemic directly affected the logistics businesses involved in moving, storing, and distributing products. The same-day delivery market also recorded a drop in the business as domestic and international boundaries closed down and freight carriers stopped moving.
Increase In Trading Activities Due To Globalization
The market is driven by dynamic market circumstances and global economic mobility. Due to the expansion of globalization in recent years, several activities connected to trade have been shown to expand. In addition, increasing globalization leads to more production and commerce throughout the world. Growing trade needs an efficient method for transporting products.
It is hard for manufacturers or retailers to manage transport activity efficiently; thus, freight firms encourage these firms to manage and regulate the transport and supply chain operations, including warehousing, distribution, and delivery services. The increase of commerce and the rising commitment to the smooth transit of goods will stimulate expansion in the world's same-day delivery market.
In addition, international market development is a major element driving the industry's expansion. The expansion of the same-day delivery industry will likely be supported by trade activity in cities and neighboring countries throughout the next several years. For budget-conscious clients who need to choose higher quality items more quickly on the same day, delivery services are becoming increasingly essential. The expansion of the same-day delivery industry hence drives development in trade activities as a result of globalization.
Factors such as e-commerce developments and the rise of worldwide trade operations present attractive prospects for the expansion of the same-day delivery market. The obstacles that hinder market growth, however, include weak infrastructure and expensive logistics, and a lack of control by manufacturers and distributors of logistics. Meanwhile, last-mile deliveries paired with logistics automation and cost-cuts & time-cutting are projected to give chances for the worldwide market of the same-day supply to increase in the near future due to the adoption of a multi-modal system.
Asia Pacific Region Dominates the Global Same-Day Delivery Market
For the same-day delivery, Asia Pacific led the industry with a share of over 35% by 2020. A growing number of e-commerce businesses, along with the increased number of online customers, are accrediting regional market growth. In addition, increasing internet penetration, adoption of smartphones, and fast urbanization are expected to foster growth in the regional industry.
North America is projected to show significant growth in the forecasted period from 2020 to 2026 in the CAGR. This development is due to the presence in the region of leading competitors, like FedEx, A1 Express Services Inc., and United Parcel Service, Inc. These firms provide services to broaden their services in the region on the same day. In addition, the developed market in e-commerce in the area is expected to provide business channels.
Browse the full “Same-Day Delivery Market Type (B2B and B2C), and By Application (Retailers and E-commerce): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/same-day-delivery-market-type-b2b-and-b2c-1185
The global Same-Day Delivery market is segmented as follows:
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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