courier management software Market

The courier management software market was valued at US$ 392.5 million in 2019 and it is projected to reach US$ 908.4 million by 2027; it is expected to grow at a CAGR of 11.6% from 2020 to 2027.

The increasing focus of enterprises toward digitization and rising adoption of cloud-based solution deployment are some of the key factors driving the growth of the courier management software market. 

The soaring number of international courier transport activities propels the courier management market growth. The different international couriers are based where cross-border trade (CBT) exchanges goods or services between two countries. It is also known as international trade and international selling. Likewise, the availability of different courier options is propelling the demand for courier management software in the world. Cross-border data exchange is a global single electronic gateway that helps companies manage, exchange, and transform trade data and documents from disparate systems and between parties for multinational customs. International courier services in India include OnTime 360, Onfleet, GSMtasks, and Digital Waybill that are known to provide fastest courier services.

The market for courier management software is segmented into deployment type, enterprise size, and geography. Based on deployment type, the market is segmented into cloud and on-premise. In 2019, the cloud segment held the largest share of the courier management software market. Based on enterprise size, the courier management software market is divided into SMEs and large enterprises. The SMEs segment is expected to be the fastest growing segment during the forecast period. Geographically, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2019, APAC held the largest share followed by Europe and North America. APAC is also projected to be the fastest growing region from 2020 to 2027 with a CAGR of 14.0% from 2020 to 2027. Despite positive growth outlook, the ongoing COVID-19 outbreak is affecting the global economy negatively; thus, affecting the business activities and company revenues in the courier management software industry worldwide. The majority of the countries have imposed lockdown or restricted human movement causing the industries to face a severe impact on production as a result of less labor footfall. The lesser production of goods and commodities is hampering the growth of courier management software market as well as courier management software market. However, the impact of COVID-19 is short-term; it is likely to decrease in the coming years.
 
The overall courier management software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the courier management software market with respect to all the segments. It also provides the overview and forecast for the global courier management software market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the courier management software market.

Courier Software Ltd.; CourierManager (Net Interaction SRL); Datatrac Corporation; Digital Waybill; Key Software Systems; Linbis, Inc.; Metafour UK Ltd; Sagar Informatics Pvt. Ltd.(SIPL).; Shipox Inc.; and Zoom; are among a few major players operating in the courier management software market.