By 2030, a tech-led revolution means the global delivery and courier market is set to rise from $482.9bn to $648bn and the UK courier market from £16.4bn to £25bn, says the international delivery expert Parcelhero. The expansion is creating new opportunities for investors in this fast-growing market.
Rapid developments in e-commerce and shipping technology will help 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, says the international delivery expert Parcelhero.
The international price comparison site says the size of the global transportation management systems (TMS) market alone is set to grow by 19.7% by 2028. Parcelhero itself is moving into the B2B logistics market with the launch of an all-new SaaS (software as a service) platform called Parcelhero Pro. Its launch creates the opportunity for investors to enter this fast-growing market.
READ: Modal switch: will the jump from ocean to air continue as traditional global supply chains snap?
Parcelhero’s Head of Consumer Research, David Jinks M.I.L.T., says: ‘Parcelhero has been analysing the latest courier, express and parcels (CEP) market data. The impact of new e-commerce, TMS and automated shipping technologies will drive continued growth. That means the global parcels market is likely to soar from $482.9bn (£378.4bn) in 2023 to $648bn (£507bn) by 2030, and the UK market from £16.4bn ($20.97bn) to £25bn ($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 analysing all the latest expert analysis of the international and domestic courier and delivery services markets. Globally, the market was worth $482.9bn in 2023, up 2.5% from the year before, according to respected analysts 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’s growth forecast of 4.2% ($466.87bn in 2022 to $648.8bn by 2030).
‘Similarly, the UK’s courier, express and parcel market value reached approximately $20.97bn (£16.4bn) in 2023, according to Expert Market Research (EMR), which also predicts the UK market to rise to $38.66bn (£30bn) by 2032, at a CAGR of 7%. That’s broadly in line with our forecast of 6.22% CAGR growth to $32bn (£25bn) by 2030.
‘The renewed growth of both international and domestic deliveries, following the slight post-Covid slump, is being fuelled 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 $13.5bn (£10.58bn) but by 2028 it is expected to reach $33.3bn (£26bn), a growth of 19.7%, according to the latest independent research by MarketsandMarkets.com.
READ: International trade takes to the skies to navigate Chinese New Year and Red Sea disruption
‘With the launch of Parcelhero’s new SaaS (software as a service) platform, Parcelhero Pro, businesses will be able to ship in bulk, optimise cost and completely outsource their after-sales customer support. Parcelhero Pro is set for launch in Q2 2024. Its launch has also created the opportunity for investors to fund its plans for the growth and marketing of the new platform.
‘The Parcelhero Group has launched our equity funding campaign on Floww, the internationally respected fundraising and investment platform. This will enable high net worth individuals (HNWI), angel investors and venture capitalists to invest.
‘The Parcelhero Group has already outpaced all its competitors with 17% CAGR in revenue between 2012 and 2022 (including 21% CAGR from 2019-22), making it the UK’s fastest-growing logistics comparison group.
