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Courier Software Market Segmented By Cloud-based, On-Premise Courier Software Type in SMEs and Large Enterprises Size
With the sales of courier software reaching US$ 1.4 Billion by 2032, the market is expected to exhibit a CAGR of 10% during the assessment period from 2022-to 2032.
“Rising popularity of e-commerce and increasing integration of smart technologies in courier services is projected to offer significant lucrative opportunities to the market in the forecast period.”
The global courier software market is expected to be majorly driven by the rising adoption of SaaS and the increasing investment in courier management services. There has been a significant rise in demand for automated solutions in courier services, which is projected to act as a significant opportunity for the market in the forthcoming period.
| Attributes | Details |
|---|---|
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Courier Software Market CAGR (2022-2032) |
10% |
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Courier Software Market Size (2022) |
US$ 543 Million |
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Courier Software Market Size (2032) |
US$ 1.4 Billion |
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Increasing investment in courier software by e-commerce companies and the growing adoption of software as a service are expected to drive the courier software market during the forecast period. Investment in courier software has transformed the delivery services and offered benefits such as; enhancing customer communication and providing real-time visibility, among others. Such benefits are expected to boost the market in the forecast period.
Integration of smart technologies in courier services is projected to augment the market size in the forecast period. Digitalization over the cloud has boosted the number of new apps to store the data. For instance, Onfleet, GSMtasks, OnTime 360, and Digital Waybill, are some of the renowned courier services that integrated smart technologies and are renowned across the globe.
Players in the market are introducing innovative technologies in the service which is anticipated to benefit the market expansion in the forecast period. For instance, in May 2022, Pickrr, a renowned SaaS-based logistics platform, introduced ‘Pickrr Advantage’, value-added equipment that optimizes performance across the destination pin codes on an auto-learning mode. It provides smart courier allocation management with a first-time SLA and promises breach benefits. Such initiatives are expected to propel market expansion in the assessment period.
Furthermore, enterprises in the market are raising funds which are expected to support market growth in the coming time. For instance, in May 2022, Cartwheel, an on-demand delivery management platform for couriers, retailers, and others, disclosed that it had raised US$ 3 Million in seed funding led by Moonshots Capital, with the contribution from Chingona Ventures and existing investors including Act One, Pitbull, TenOneTen Ventures. Funds would be used for product development, company expansion, and partner integrations.
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Get a Customized VersionThe increasing popularity of online shopping practices is expected to offer lucrative opportunities for market growth in the assessment period. With surging demand from online platforms, it has become necessary to develop courier services. Therefore, players are taking various initiatives to ease the delivery system, thus, strengthening the market in the forecast period.
In September 2020, an India-based startup, Dispatch, was set up which focused to increase EV proliferation in the fleets of aggregators such as Swiggy and Zomato. The startup aims to meet the demands of food delivery, bulk courier services, and others. Such initiatives are expected to favor the market growth in the assessment time. Also, growing acquisitions among players in the industry are predicted to drive the expansion.
High costs associated with the software are expected to hamper the market growth during the forecast period. Also, data breach risk is another factor hindering the industry’s expansion in the forthcoming period. Another limiting factor is the failure of the software when a large number of users are logged in at the same. Besides, low connectivity impacts real-time monitoring, which is likely to limit the market expansion during the forecast period.
However, the growing focus of the players on improving courier services and delivery management systems is likely to offer lucrative opportunities to the market. Also, increasing customer communication, real-time visibility, and high returns on investment are vital factors acting as a significant counter to the global courier software market in the forthcoming period.
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| Attributes | Courier Software Market |
|---|---|
|
CAGR (2022-2032) |
10% |
|
Market Value (2032) |
US$ 1.4 Billion |
|
Growth Factor |
Increasing investment in courier software by e-commerce companies and the growing adoption of software as a service are expected to drive the market during the forecast period. |
|
Opportunity |
The growing popularity of online shopping practices is expected to offer lucrative opportunities to the market in the assessment period. |
| Attributes | Global Delivery Management Software Market |
|---|---|
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CAGR (2022-2032) |
10.13% |
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Market Value (2032) |
US$ 4.2 Billion |
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Growth Factor |
Increasing investments in delivery management software with rising integration of cloud technology in the service are expected to benefit the market in the forecast period. |
|
Opportunity |
The rapidly growing popularity of e-commerce across the globe, and especially in developing countries, is expected to pose lucrative opportunities for the market growth in the coming period. |
| Attributes | Multichannel Order Management Market |
|---|---|
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CAGR (2022-2032) |
10.89% |
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Market Value (2032) |
US$ 4.5 Billion |
|
Growth Factor |
Expansion of retail and e-commerce markets across the globe is expected to play a vital role in driving the market during the forecast period. |
|
Opportunity |
Integration of digital media in transforming the retail industry is expected to act as a lucrative opportunity for expansion during the forecast period. |
Increasing demand for products and rising disposable income have played a significant role in driving the market growth in the past, and are likely to do so during the forecast period as well. Significant growth in demand for on-time tracking of the courier has encouraged players to integrate smart technologies, innovate products, and offer efficient services, which is expected to augment the market size in the assessment period.
The global courier software market can be segregated on the basis of deployment, enterprise size, and region.
Based on deployment, the market for courier software market can be segregated into on-premise and cloud. Between the two, the cloud segment is projected to dominate the market.
Based on enterprise size, the market for courier software market can be segregated into SMEs and Large Enterprises. The SMEs segment is expected to lead the market during the forecast period.
As per the analysis, the cloud segment is anticipated to dominate the market during the forecast period. The segment is anticipated to display a CAGR of 10.2% during the timeframe of 2022 to 2032. Expansion of the segment can be attributed to the growing demand for on-time delivery and quick actions.
Route4Me, Verizon Connect, Courier365cloud, eLogii, and AUTOsist are some of the cloud-based courier management software that keeps businesses updated and assures on-time delivery. The demand for cloud-based solutions is increasing significantly, which can be attributed to the low cost and high scalability. Besides, cloud-based software offers high storage capacity, greater computing power, and provides end-to-end encryption, thus, strengthening the market growth in the assessment period.
According to the analysis, based on enterprises, SMEs are expected to dominate the industry in the forecast period. The segment is anticipated to exhibit a CAGR of 10.2% during the timeframe from 2022 to 2032. The growth of the segment can be attributed to the increasing number of SMEs in developing countries.
The rapid rise in the number of SMEs owing to the increased exposure to technology, the segment is projected to augment in the coming time. Besides, growing funding and investment in SMEs will further propel segmental growth in the coming time.
| Regions | Estimated CAGR |
|---|---|
|
United States |
9.8% |
|
United Kingdom |
8.7% |
|
China |
9.3% |
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Japan |
8.4% |
|
South Korea |
7.9% |
How attractive are expansion prospects across North America?
As per the analysis, the market in North America is projected to dominate the market during the forecast period. The U.S is anticipated to lead the market in the region. The country is estimated at a market revenue of US$ 505.1 Million by 2032. Expansion of the regional market can be attributed to the growing volume of online shopping and development in the e-commerce sector.
Also, the increasing popularity of cloud-based software is expected to be another factor driving the market growth in the forecast period. Besides, established players in the market are collaborating with cloud service providers to offer efficient solutions to end-users.
Enterprises such as Instadispatch is engaged in providing cloud-based courier management system, allowing users in North America to streamline logistics operations, along with making the entire process responsive, cost-effective, and flexible. Owing to the aforementioned factors, the market in North America is expected to expand notably in the forecast period.
What is the Contribution of APAC in Enhancing Courier Software Market Growth?
APAC is projected to be the most lucrative market in the forecast period. China is anticipated to lead the regional market in the assessment period. The country is estimated at US$ 101.5 Million by 2032, while Japan and South Korea are anticipated at US$ 81.9 Million and 51.1 Million during the assessment period.
The growth of the regional market can be attributed to the expansion of the e-commerce sector and the integration of smart technologies into courier services. Besides, the presence of emerging economies is likely to provide lucrative opportunities to the market in the coming time.
In February 2022, EVage, a leading all-electric commercial vehicle OEM in India, announced that it raised a fund of US$ 28 Million from a US-based venture capital firm, RedBlue Capital. It aims to develop the existing delivery vans in the country. Owing to such initiatives, the market in APAC is expected to grow significantly in the assessment period.
The introduction of new software and implementation of smart technologies in the courier services are the priority of the players in the market. In order to strengthen their place in the market, players are collaborating, signing agreements, and acquiring other players. Key players in the market include CourierManager, Courier Software Ltd, Datatrac Corporation, Key Software Systems, and Digital Waybill.
The research offers a comprehensive competition analysis of some top competitors in the courier software market, including company biographies, recent developments, and significant market strategies. It shows how the competitors are taking advantage of the opportunities present in the courier software market.
Recent Key Developments in the Market are:
| Attributes | Details |
|---|---|
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Forecast period |
2022-2032 |
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Historical data available for |
2015-2021 |
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Market analysis |
USD Mn for Value |
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Key Countries Covered |
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By Market Segments |
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Key Companies Profiled |
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Pricing |
Available Upon Request |
Courier Software Market by Deployment Type
Courier Software Market by Enterprise Size
Courier Software Market by Region
The global courier software market is expected to display a CAGR of 10% during the forecast period.
North America is projected to dominate the market, with the U.S garnering US$ 505.1 Million by 2032.
SMEs are expected to dominate the market while displaying a CAGR of 10.2% in the assessment period.
The courier software market is expected to secure a market value worth US$ 1.4 Billion by 2032
The cloud segment is anticipated to dominate the market while exhibiting a CAGR of 10.1% in the forecast period.
