The global delivery and courier market is set to reach US$648bn by 2030 and unlock new investment opportunities, according to international delivery company ParcelHero.
Technology-led developments in e-commerce and shipping will help to fuel a 4.31% compound annual growth rate (CAGR) in the global courier and delivery services market, and a 6.2% CAGR rise in the UK domestic market by 2030, ParcelHero added.
David Jinks MILT, ParcelHero’s head of consumer research, commented, “ParcelHero has been analyzing the latest courier, express and parcels (CEP) market data. The impact of new e-commerce, transportation management systems (TMS) and automated shipping technologies will drive continued growth. That means the global parcels market is likely to soar from US$482.9bn in 2023 to US$648bn by 2030, and the UK market from £16.4bn (US$20.97bn) to £25bn (US$32bn).
“The boom in global and domestic parcel volumes faltered following the end of the Covid-19 surge. However, most reports agree that both international and UK deliveries are set to grow significantly by 2030.
“We’ve been analyzing all the latest expert analysis of the international and domestic courier and delivery services markets. Globally, the market was worth US$482.9bn in 2023, up 2.5% from the year before, according to respected analyst Ibis World. It has grown around 5% between 2018 and 2023 and we predict continued growth of around 4.31% CAGR by 2030. That’s roughly in line with Exactitude Consultancy’sgrowth forecast of 4.2% (US$466.87bn in 2022 to US$648.8bn by 2030).
“Similarly, the UK’s courier, express and parcel market value reached approximately US$20.97bn in 2023, according to Expert Market Research, which also predicts the UK market to rise to US$38.66bn by 2032, at a CAGR of 7%. That’s broadly in line with our forecast of 6.22% CAGR growth to US$32bn by 2030.”
Jinks continued, “The renewed growth of both international and domestic deliveries, following the slight post-Covid slump, is being fueled by ongoing developments in e-commerce and the impact of revolutionary technologies in deliveries. These technological innovations will enable retailers and their logistics providers to enhance operational efficiency to meet customer demands.
“The growth of new tracking and end-to-end shipping solutions is set to fuel the rapid growth in the size of the global TMS market. In 2023, this was worth around US$13.5bn but by 2028 it is expected to reach US$33.3bn, a growth of 19.7%, according to the latest independent research by MarketsandMarkets.com.”
ParcelHero has recently announced the launch of its new software as a service platform, Parcelhero Pro, and is looking for initial funding of £700,000 (US$895,000) to achieve a “successful market debut”, according to Jinks.