The global same day delivery market was valued at USD 4.5 billion in 2020 and is expected to reach USD 15.01 billion by 2028, expanding at a CAGR of 20.2% during the forecast period, 2021 – 2028. The growth of the market is attributed to rising urbanization, changing customer expectations towards delivery, and rapid e-commerce adoption.
Same day delivery services offer parcel in less than 24 hours, rather within the same day of the order. Ease of ordering through online platforms, along with minimized shipping time is expected to drive the market. Same day delivery service couples the convenience of online shopping with immediate goods availability.
Market Trends, Drivers, Restraints, and Opportunities:
- Stationery retail stores are being replaced by online retail shops through e-commerce platforms, which has increased B2C transactions.
- Availability of same day delivery is estimated to promote e-commerce among consumers.
- Need for composite delivery infrastructure, along with large initial investment, is expected to hamper the market growth.
- Extended delivery time is one of the major factors, due to which, consumers shop in brick-and-mortar stores than on online stores.
- Key e-commerce platforms are starting their own logistics operations to provide quick delivery services to consumers.
Market Segment Insights:
The B2B segment held a major share of around 58.35% of the total revenue share in 2019
Based on types, the same day delivery market is segregated as B2B, B2C, and C2C. B2B segment dominated the market in 2019. The B2B segment accommodates end-use customers, such as retailers, wholesalers, and manufacturers. The arrival of online B2B e-commerce platform is estimated to propel the market growth. Shipping costs are high in B2B segment.
The domestic segment dominated the market with a share of around 76.39% of the total revenue in 2019
On the basis of services, the same day delivery market is bifurcated into domestic and international. The domestic segment is expected to witness a rapid CAGR during the forecast period. The growth of the segment is attributed to the presence of large number of local e-commerce platforms in the country. Additionally, increasing internet usage, along with rising number of e-shoppers is anticipated to boost the segment growth during the forecast period. As consumers depend upon delivery time for shopping, several e-commerce platforms have started providing same day delivery.
The market in Asia Pacific held a major share of around 37.91% of the total revenue in 2019
In terms of regions, the same day delivery market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is estimated to expand at a substantial CAGR during the forecast period. Market growth in the region is attributed to rising number of online shoppers along with presence of several e-commerce companies. Additionally, factors such as increasing internet usage, smartphone users, and rapid urbanization are expected to boost the market growth.
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