Parcel Delivery Market to Witness Highest Growth in Near Future

Parcel can be defined as goods or objects wrapped in a paper, or sealed in envelope, or a box and the process of delivering a parcel to a particular destination via road, rail or air, is known as parcel delivery. Increase in penetration of the internet and expansion of the e-commerce industry have boosted the parcel delivery market. The global parcel delivery market is expected to expand during the forecast period as the penetration of internet and preferences of customers for shopping are changing. This, in turn, is anticipated to boost consumer spending on online shopping, which is expected to be ultimately delivered to the customer via parcel delivery.

Expansion of transportation and automotive industries has propelled the parcel delivery market as it has made parcel delivery easy, safe, and convenient. Moreover, rise in globalization is also anticipated to drive the parcel delivery market. Adoption of new technologies, logistic methods, and innovative vehicles is likely to drive the parcel delivery market. Consistent demand for local delivery, food commodities, agricultural goods, and bulk delivery is expected to offer significant opportunities for key players operating in the parcel delivery market.

Transportation of goods and services, domestically and internationally, is a major driver of the parcel delivery market. Increasing demand for parcel in e-commerce, mails (postal), online food, etc., is boosting the parcel delivery market. Major restraints of the parcel delivery market are transportation strikes, prices of fuel, and government regulations about logistics and transportation.

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The global parcel delivery market can be segmented based on deployment, end-user, vehicle type, service, and region. Based on end-user, the parcel delivery market can be bifurcated into retail, petroleum, defense, chemical, construction, logistics & shipping, and government organizations. In parcel delivery, road transportation is widely preferred for the transportation of goods from one location to other, as it is safe, secure, and an efficient means of transportation. Based on deployment, the parcel delivery market can split into indoor and outdoor terminals.

Based on vehicle type, the parcel delivery market can be differentiated into LCV and HCV. LCV and HCV is further sub-segmented into pick-ups, vans, and trucks & Lorries. In terms of region, the global parcel delivery market can be segmented into Europe, Middle East & Africa, Latin America, Asia Pacific, and North America. Asia Pacific is expected to be a major market for parcel delivery, as this region is home to major industries and automobile manufacturers. China and India contribute to the increase in demand for parcel delivery, as these countries have high export and import of goods, which drives the parcel delivery market in the region. Europe accounts for a significant share of the global parcel delivery market, as it has a large presence of key players in the region.