Global delivery and courier market set to reach $648bn and the UK market £25bn by 2030
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.
Parcelhero’s head of consumer research, David Jinks MILT, 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.
