Domestic Market to Dominate the North America Express Delivery Market during 2019–2027
According to The Insight Partners market research study on “North America Express Delivery Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Destination, Business Type, and End- users,” is expected to reach US$ 94,936.66 million by 2027 from US$ 66,508.22 million in 2020. The market is estimated to grow at a CAGR of 5.2% from 2020 to 2027. The report provides trends prevailing in the North America Express Delivery Market along with the drivers and restraints pertaining to the market growth. Growing adoption of e-commerce among the population, raising investments by companies on same-day delivery of consumer goods and integrated use of technology in express delivery operations are the major factor driving the growth of the express delivery market. However, heavy cost associated with express delivery hinder the growth of 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.
North America express deliver market is segmented based on destination, business type, and end users. Based on destination, the North America express delivery 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, 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 thers. 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.
Amazon.com, Inc.; Aramex; DHL International GmbH; FedEx Corporation; TNT Holdings B.V.; and United Parcel Service of America, Inc. are among some of the leading companies in the North America express deliver market. The market players focus on new product innovations and developments in order to achieve sustainable growth and to distinguish themselves among competitors present in the highly competitive express delivery market. For instance, Amazon.com, Inc. keeps buying jets to move closer to a 30-minute delivery dream. As last week, Amazon announced it was buying 11 Boeing 767-300 jets for its air-cargo division, mostly to get products to prime subscribers.
The report segments the North America Express Delivery Market as follows:
North America Express Delivery Market – By Destination
- Domestic
- International
North America Express Delivery Market – By Business Type
- B2B
- B2C
North America Express Delivery Market – By End-user
- Automotive
- Retail and E-commerce
- Pharmaceuticals
- BFSI
- IT and Telecom
- Electronics
- Others
North America Express Delivery Market – By Country
- US
- Canada
- Mexico
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