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DUBLIN–(BUSINESS WIRE)–The “Postal Services Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery” report has been added to ResearchAndMarkets.com’s offering.
The global postal services market reached a value of nearly $208,550.8 million in 2019, having decreased at a compound annual growth rate (CAGR) of -0.1% since 2015. The market is expected to decrease from $208,550.8 million in 2019 to $193,249.8 million in 2020 at a CAGR of -7.34%.
The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 1.60% from 2021 and reach $200,766.9 million in 2023. The market is expected to reach $205,724.9 million in 2025 at a CAGR of 1.2%, and $214,654.3 million in 2030 at a CAGR of 0.9%.
Growth in the historic period resulted from strong economic growth in emerging markets, low oil prices and rise in e-commerce. Factors that negatively affected growth in the historic period were email as cheaper and quicker communication and competitive market. Going forward, adoption of data analytics, technology development and use of automated and electric vehicles will positively impact the market. Factors that could hinder the growth of the postal services market in the future include workforce shortage, oil price volatility, coronavirus pandemic and developed nations exit from universal postal union.
The postal services market is segmented by type into express postal services and standard postal services. The standard postal services market was the largest segment of the postal services market segmented by type, accounting for 98.3% of the total in 2019. Going forward, express postal services segment is expected to be the fastest growing segment in the postal services market, at a CAGR of 1.2%.
The rapidly spreading coronavirus outbreak will have long-term effects on the postal services market and its segments, i.e. letter post (communications and direct mail), parcels and logistics (delivery of e-commerce goods and supply chain solutions), financial services (e.g. remittances), and other products (e.g. citizen services). The postal services market is facing supply side shocks, such as labor shortages or the physical inability to carry on production activities owing to social distancing measures.
North America was the largest region in the global postal services market, accounting for 31.8% of the total in 2019. It was followed by Asia-Pacific, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the postal services market will be South America, and Middle East where growth will be at CAGRs of 1.9% and 1.3% respectively. These will be followed by Africa and Asia-Pacific, where the markets are expected to grow at CAGRs of 1.1% and 0.8% respectively.
The postal services market is highly fragmented, with a large number of regional players operating in the market. The top ten companies in the market made up to 82.49% of the total market in 2019. Major players in the market include United States Postal Service, Deutsche Post, Le Groupe La Poste, Royal Mail Group plc, Japan Post Holdings Co., Ltd. and China Post Group Co., Ltd.
The postal services market size will gain the most in India at $1,636.6 million. Market-trend-based strategies for the postal services market include adopting self-serve kiosks technology, implementing and launching mobile phone applications, using big data technology to improve overall efficiency, investing in digital solutions to improve productivity at the ease of customers, investing in robotic technology for delivery and administration tasks and delivery of mails and parcels by drones.
Player-adopted strategies in the postal services industry include delivering world class customer experience, investing in advanced platform and improve employee capabilities, adopting digitalization, maintaining public service missions, network enhancements and business expansion through partnerships and collaborations.
To take advantage of the opportunities, the publisher recommends the postal services companies to invest in self-serve kiosks, mobile integration, focus on integrating big data, investing in drone and robot delivery, expanding in emerging markets, provide competitively priced offerings, leverage social media, and collaboration with e-commerce companies.
Key Topics Covered:
1. Postal Services Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
7. Postal Services Market Characteristics
8. Postal Services Market Product/Service Analysis – Product/Service Examples
9. Postal Services Market, Supply Chain Analysis
10. Postal Services Market Customer Information
11. Postal Services Market Trends and Strategies
12. COVID Impact On Postal Services Market
13. Global Postal Services Market Size and Growth
14. Postal Services Market, Regional Analysis
Companies Mentioned
- United States Postal Service
- Deutsche Post DHL Group
- Le Groupe La Poste
- Royal Mail Group Limited
- China Post Group Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/hefwxr
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