The courier industry is seeing increasing demand for urgent and timed delivery and is estimating total global revenue to surpass $66bn by 2021. These findings have been projected by financial consulting firm, Ngenko Investments.
Their report sees a particularly strong demand from the pharmaceutical, clothing, banking, fast-moving consumer goods, IT and automotive industries.
They report technology as playing a key role in the industry's rapid growth. New technology such as RFID (radio frequency identification) inventory management, robotic warehousing and real-time monitoring are especially helping industries such as medical and automotive, where the care and attention to detail is absolutely key.
For the most part, the industry is made up of either large corporations or medium to large sized privately owned entities. With companies such as Amazon attempting to enter the direct delivery industry, companies like Urban Valley Transport are capitalizing on their ability to adapt to market trends and technologies that large corporations can simply not incorporate with as much ease. As consumers increase their standards and expectations, only the strongest and most adaptable companies will continue to prosper.
Although the largest segment of the industry primarily consists of small to medium parcels, electronic equipment, samples or parts. Revenue generated in 2015 by document shipments increased due to the sheer volume of deliveries made.
North America and Europe account for over two-thirds of the industry's revenue but with that said, growing economies such as Asia Pacific, Middle East and Africa have been showing rapid growth and analysts are expecting them to be nearly at par with North America and Europe by 2021.
Although companies such as Amazon are pushing the boundaries of delivery, it seems inevitable that the traditional courier and delivery services will always have a large demand if its major players continue to meet and exceed consumer expectations.