The express delivery market was valued at US$ 2,39,337.5 million in 2019 and is projected to reach US$ 3,78,233.7 million by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027.

High adoption of express delivery has been observed across major essential sectors-such as food & beverages and healthcare-in all major economies worldwide. The demand from global population to receive the items to be delivered in the same day or to be delivered maximum in a day's time has increased over the years. For instance, the demand for same day deliveries from the population for groceries is about 64%, healthcare products is 46%, specialty snacks is 42%, alcohol is 41%, and other household products is 28%. The highest adoption is noticed across the healthcare sector. In healthcare, proper prioritization reduces misery and saves lives. There must be access to high-tech medical devices and work around the clock, all year round. DHL INTERNATIONAL GMBH; FEDEX CORPORATION; POSTE ITALIANE; TNT HOLDINGS B.V.; and UNITED PARCEL SERVICE OF AMERICA, INC are among the express delivery providers offering products integrated with innovative features.

The APAC express delivery market is expected to witness a tremendous growth during the forecast period. The adoption of advanced and innovative technologies across the region is high. The deployment of express delivery services has increased in Asian countries due to investments by the governments and various initiatives for the development of the retail and e-commerce industry. Asia is referred to as the global economy's growth engine with countries, such as China, India, Japan, and Singapore. Several manufacturing industries for automotive, pharmaceuticals, and retail sectors have enhanced the acceptance of advanced technologies across these sectors. The continuous development in the economy and rapid digitalization, rise in education awareness, increase in incomes of the middle class, and adequate government support are factors that have ensured a smooth transition of the developing economies from the developing stage toward a developed stage.

In APAC, the fastest-growing e-commerce markets are India and China. Consumers in these countries are positively inclined toward online shopping. Owing to rising internet penetration, online shopping trends are transforming several areas of e-commerce in the region. With the right technology and logistics, it is easy to provide online shopping and delivery to customers, even in rural areas. Asia-Pacific is the fastest-growing region globally for the freight and logistics sector. This is due to the increasing growth in the logistics sector in the ASEAN countries and the presence of big economies, such as China. Besides, increasing government support for the region's logistics sector is also a factor boosting growth of the express delivery market.

AFTERSHIP LTD; ARAMEX INTERNATIONAL LLC; DHL INTERNATIONAL GMBH; FEDEX CORPORATION; KONINKLIJKE POSTNL; POSTE ITALIANE.; SF EXPRESS (GROUP) CO. LTD.; TNT HOLDINGS B.V; UNITED PARCEL SERVICE OF AMERICA, INC; and USPS are among the major players present in the global express delivery market.

Impact of COVID-19 Pandemic on Express delivery Market

COVID-19 outbreak, which began in Wuhan (China) in December 2019, has rapidly spread across the world. It has badly affected China, Italy, Iran, Spain, the Republic of Korea, France, Germany, and the US in terms confirmed positive cases and reported deaths. The COVID-19 outbreak has affected economies and industries in various countries as it has resulted in lockdowns, travel bans, and business shutdowns. The overall market breakdown due to COVID-19 is also affecting the growth of the express delivery market due to factory shutdowns, disrupted supply chain, and downturned global economy. The impact of COVID-19 differed from country to country across the European region as selected countries witnessed an increase in the number of recorded cases and subsequently attracted strict as well as longer lockdown periods or social isolation. However, Western European countries such as Germany, France, Russia, and the UK have seen a comparatively modest decrease in their growth activities because of the strong healthcare system. In order to protect its citizens from the virus, the European government has made tremendous investments in incorporating technologies in its healthcare systems to help identify signs of the virus.

Overall size of the global express delivery market has been derived in accordance to 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. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the 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 express delivery.