Courier Software Market Research: Implementing Smart Technologies to Boost Growth
New York, July 27, 2022 (GLOBE NEWSWIRE) — The global courier software market is estimated to reach US$1.4 billion by 2032 at a CAGR of 10% over the forecast period. The market is expected to be worth $543 million by 2022. The growth of the market can be attributed to the increasing adoption of SaaS and the growing investment in courier management services.
The deployment of smart technologies in courier services is expected to play an important role in increasing the market size over the forecast period. Digitization via the cloud has increased the number of new apps to store the data. Onfleet, GSMtasks, OnTime 360 and Digital Waybill are some of the leading carriers that deploy smart technologies. In addition, players are introducing new technologies in the service, which will benefit the market in the forecast period. In May 2022, Pickrr, a renowned SaaS-based logistics platform, for example, “Pickrr Advantage”, introduced value-added equipment that optimizes the performance of destination PINs in an automatic learning mode.
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In addition, market players are raising funds that are expected to increase market growth over the period considered. In May 2022, Cartwheel, an on-demand delivery management platform for couriers, retailers and others, announced that it had raised US$3 million in seed funding. Funding was led by Moonshots Capital, with the participation of Chingona Ventures and existing investors including Act One, Pitbull and TenOneTen Ventures.
T keynotes from the market study:
The US market is expected to be worth US$505.1 million by 2032
UK industry expanding at a CAGR of 8.7% over the period considered
By implementation, the cloud segment dominates the industry at a CAGR of 10.1% over the forecast period.
South Korea market to reach US$51.1 million by 2032
Japanese market shows a CAGR of 8.4% over the forecast period
The SMB segment, by company size, is expected to dominate the market, growing at a CAGR of 10.2% by 2032
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Major players in the global courier software market include CourierManager, Courier Software Ltd, Datatrac Corporation, Key Software Systems and Digital Waybill. Recent industry updates include:
In May 2022, Aramex, renowned Middle East courier services, announced an agreement to acquire Florida-based MyUS for US$265 million. The initiative is aimed at expanding e-commerce activities.
In May 2022, Technostacks, a mobile application development company offering IT services from India and the US, announced the launch of MENA’s local courier, taxi booking and shipping to enable consumers and businesses to deliver local courier packages in the MENA region. delivery region. The tracking app helps with placing an order, offering shipping services and choosing routes. Such initiatives are expected to provide significant momentum to the market over the forecast period.
In May 2022, Trinity Industries announced the acquisition of Quasar Platform from Cando Rail & Terminals Ltd. Quasar is an end-to-end rail logistics software platform that provides a real-time data universe to shippers and rail freight operators. The acquisition would expand Trinity’s digital product portfolio, including Trinsight™, by incorporating other capabilities such as new data visualization tools, activity-based costing and site management.
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Find more valuable informationghts on Courier Software Market
Persistence Market Research (PMR) has published a detailed study on the courier software market, including global sector analyzes for 2015-2021 and forecasts for 2022-2032. The report provides insightful analysis of market concentration in five different regions, across two distinct segments: implementation type and company size.
The report entitled – ‘Courier software’ examines the current installed base, product usage in various applications, from domestic to industrial, as well as prevailing trends and technologies. In addition, the report presented a detailed value chain analysis related to procurement and aftermarket services.
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