The global same-day delivery market size is poised to grow by USD 9.73 billion during 2020-2024, progressing at a CAGR of about 22% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Same-Day Delivery Market in US 2020-2024 (Graphic: Business Wire)
The rising penetration of internet and the growing inclination towards online shopping has significantly contributed to the growth of the B2C e-commerce market in the US. This has increased the demand for parcel delivery services to the B2C e-commerce market. In addition, the growing competition has compelled many e-tailers to reduce their lead time to gain an edge over their rivals in the market. For instance, in 2018, Jet.com introduced same-day delivery for groceries, everyday essentials, and select merchandise in New York. Similarly, in February 2018, Deliv launched Deliv Rx to extend its same-day services to patients, doctors, pharmacies, hospitals, labs, and clinics. All these factors are contributing to the growth of the same-day delivery market in US.
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The major same-day delivery market growth came from the regular service segment in 2019. This is due to the increasing number of partnerships between apparel retailers and logistics players in the US.
B2C was the largest market for same-day delivery in 2019, and the segment will offer several growth opportunities to market vendors during the forecast period. This is attributed to the growth of the online grocery market in the US.
The global same-day delivery market is concentrated. A1-SameDay Delivery Service Inc., Deliv, Deutsche Post AG, Express Courier, FedEx Corp., Last Mile Logistics, Power Link Expedite, United Parcel Service of America Inc., USA Couriers, and Zipline are some of the major market participants. To help clients improve their market position, this same-day delivery market forecast report provides a detailed analysis of the market leaders.
As the business impact of COVID-19 spreads, the global same-day delivery market 2020-2024 is expected to have positive. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/same-day-delivery-market-in-the-us-industry-analysis
Increasing demand from the medical and healthcare industry will be a key market trend
The US is home to many global players in the pharmaceutical industry. In 2019, the pharmaceutical industry was valued between 40% to 46% of the global value. In addition, the government spending on R&D of new drugs has been on the rise since 2014. Many pharmaceutical retailers in the country have started selling products