Same-day Delivery Market: Segmented: By Product Type (B2B, B2C and C2C); By Service (International and Domestic); and Region - Global Analysis of Market Size, Share & Trends for 2019 - 2020 and Forecasts to 2030
Same-day Delivery is a market where the time between making an order and receiving it is less than one day. Same-day delivery has the potential to transform our shopping habits. It blends the ease of online shopping with the immediacy of physical stores. In recent years, a growing number of businesses have begun testing and introducing new same-day delivery models. Given the compelling value proposition of same-day delivery for customers, demand is expected to accelerate. With the rise in demand, competition has increased, and customers expect their orders to arrive as soon as possible. As a result of this growth, the same-day delivery market is expected to benefit significantly over the forecast period.
Global Same-day Delivery is expected to project a notable CAGR of 21.98%in 2030.
Global Same-day Delivery to surpass USD 32.46 billion by 2030 from USD 4.45 billion in 2020 at a CAGR of 21.98%in the coming years, i.e., 2021-30. This growth is anticipated due to growing urbanization, rapid e-commerce adoption, and changing customer expectations towards delivery services. With the increasing number of internet users around the world and technical advances, users expect online services to enhance their delivery standards as well. After ordering from the store, consumers obtain their shipments the following day. The order is delivered the same day, and the customer receives it within 24 hours. As a result, rising demand for early product deliveries around the world has boosted the same-day delivery market, which is expected to continue to expand over the forecast period.
B2B segment to grow with the highest CAGR during 2020-30
Global Same-day Delivery is segmented by product type into B2B, B2C, and C2C. B2B segment held the largest market share in the year 2020. Manufacturers, retailers, and wholesalers are among the end-user customers represented by the B2B segment. Business growth is being aided by the advent of online B2B e-commerce platforms. Furthermore, the B2B segment's sales share is higher due to the heavier weight of the shipments, which results in higher shipping costs.
A domestic segment to grow with the highest CAGR during 2020-30
Global Same-day Delivery is segmented by service into International and domestic. Over the forecast period, the domestic service is projected to expand at the fastest pace. The existence of a large number of local e-commerce platforms operating within the country is credited with this development. Furthermore, rising internet penetration and the number of e-shoppers are expected to fuel segment growth over the forecast period. Customers' buying choices are affected by shipping times, so e-commerce sites have begun to provide same-day delivery services.
Turning to online platforms and competition
Surging demand for Same-day Delivery from numerous end-user industries is the key factor contributing to market growth. Customers have been forced to turn to online platforms for their basic to advanced level needs due to the availability of all goods on the internet with real-time ratings, feedback, and best prices, resulting in a significant rise in the global e-commerce industry. With the rise in demand, competition has increased, and customers expect their orders to arrive as soon as possible. As a result of this growth, the same-day delivery market is expected to benefit significantly over the forecast period.
Smartphones and digitalization and e-commerce
Smartphone use has grown in the last decade due to several factors including low-cost broadband, the launch of 4G, the adoption of emerging technologies, and the introduction of smartphones. With a large number of customers available, the increased use of phones has contributed to many businesses gaining market share. Because of the increasing usage of phones and the emergence of easily available mobile apps, e-commerce has a large market share. Over the forecast period, this is projected to fuel the same-day delivery market even further.
COVID-19 lockdown restrictions
Due to COVID-19, the global market is projected to be restrained, posing a challenge to business sustainability. Because of the lockdown, there was a shortage of labor to meet rising market demands. However, the ease with which lockdowns can be introduced in different parts of the world has assisted in the resumption of business, thus growing demand for last-mile delivery services. The pandemic may have briefly disrupted the economy, but it is expected to prove profitable in the long run.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Same-day Delivery Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. Global Same-day Delivery in APAC held the largest market share in the year 2020 in terms of revenue. The growth of the regional market can be attributed to an increase in the number of e-commerce firms, as well as an increase in the number of online shoppers. Furthermore, regional market growth is expected to be fueled by increasing internet penetration, mobile adoption, and rapid urbanization. The presence of significant players in the region, who are offering same-day delivery services to extend their service offerings in the region, is attributed to this development. Furthermore, the region's mature e-commerce industry is expected to open doors for the market.
Global Same-day Delivery Market is further segmented by region into:
The Specialty Same-day Delivery Market size was estimated at USD 4.45 billion in 2020 and is expected to reach USD 32.46 billion by 2030.
Key players: Deliv, Courier Express, Jet Delivery, Inc., FedEx, United Parcel Service of America, Inc., XPO Logistics, Inc., Deutsche Post AG, A1 Express Services Inc, Aramex, Dropoff, Inc, and Other Prominent Players
The B2B and Domestic segments are anticipated to hold the largest Specialty Same-day Delivery Market.
Turning to online platforms and competition and Smartphones and digitalization and e-commerce
Same-day Delivery is a market where the time between making an order and receiving it is less than one day. Same-day delivery has the potential to transform our shopping habits. It blends the ease of online shopping with the immediacy of physical stores. In recent years, a growing number of businesses have begun testing and introducing new same-day delivery models. Given the compelling value proposition of same-day delivery for customers, demand is expected to accelerate.
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