Pandemic effect of COVID-19 on Courier Express and Parcel Market

MARKET INTRODUCTION

Courier service is a facility by which goods, consignment, parcels, products, etc. to be delivered from one location to another location. Courier services are recognized from their tracking features, security, and speed. rising internet and smartphone penetration boosting e-commerce sales, growing disposable incomes, changing lifestyles, and increasing inclination towards online shopping are some of the factors that booming the growth of the courier express and parcel market.

MARKET DYNAMICS

Advancement of technology and rapid urbanization have boosted the growth of the global courier express and parcel market. On the contrary, a surge in demand from the e-commerce industry and introducing real-time tracking feature to the customer, this delivery innovation improves convenience to customers and provides them greater visibility into their deliveries. This, in turn, triggering the growth of the courier express and parcel market. An increase in international trade and government initiatives regarding import-export regulations are expected to influence the courier express and parcel market growth during the forecast period.

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