Respiratory Care Devices Market Assessment, By Product Type [Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables and Accessories], By Disease Indications [Chronic Obstructive Pulmonary Disease, Asthma, Sleep Apnea, Infectious Diseases

Respiratory Care Devices Market Assessment, By Product Type [Therapeutic Devices, Monitoring Devices, Diagnostic Devices, Consumables and Accessories], By Disease Indications [Chronic Obstructive Pulmonary Disease, Asthma, Sleep Apnea, Infectious Diseases, Others], By End-user [Hospitals, Home Care Settings, Ambulatory Care Centers, Others], By Region, Opportunities and Forecast, 2017-2031F

Global parcel delivery logistics market is projected to witness a CAGR of 4.40% during the forecast period 2024-2031, growing from USD 477.34 billion in 2023 to USD 673.64 billion in 2031. The parcel delivery logistics market is experiencing significant growth due to the rapid growth of e-commerce has led to an increase in online shopping as consumers expect faster and more convenient delivery options. The demand for quick and reliable distribution has led to an increase in logistics infrastructure and technology and companies have been able to increase the speed and efficiency of distribution. Globalization will expand its borders and will further motivate the demand for small packaging services that can process international delivery. The growth of the delivery decisions in the last mileage, such as drones, electric vehicles, and cabinet systems has improved supply availability and flexibility, satisfying the needs of urban and rural areas.

In addition, companies can predict the demand and optimization of operation, as the management of the supply chain is optimized by the tracking system and the analysis fields with a focus on customer experience, companies strive to offer personalized, real-time tracked and environmentally friendly options that appeal to today's consumers. As a result, the package delivery logistics market continues to expand as it adapts to changing consumer expectations and technological advancements.

In October 2023, Deutsche Post AG completed the acquisition of MNG Kargo, a leading Turkish parcel delivery company to expand its European eCommerce parcel network. MNG Kargo will integrate under DHL eCommerce management. This acquisition strengthens DHL’s position in Turkey’s rapidly growing e-commerce market driven by a young tech-savvy population. MNG Kargo’s extensive network of 27 sorting centers and 800 branches will enhance DHL’s operational efficiency and cross-border logistics capabilities. The combined expertise and resources will provide DHL customers with improved services and capitalize on Turkey’s significant e-commerce growth potential, ultimately driving the growth of the global parcel delivery logistics market.

E-commerce Expansion to Fuel Market Growth

The parcel delivery logistics market is primarily being driven by the growth of e-commerce. There are increasingly more people shopping online to save time, money, and a wealth of options making the demand for fast and reliable parcel delivery services increase. Companies such as Amazon, along with thousands of small and medium-sized online retailers need efficient logistics systems to ensure that the goods are delivered fast usually the same or next day. This increased demand has forced logistics companies to grow their delivery infrastructure, invest in technology to have efficient order processing, and improve last-mile delivery solutions for faster and more accurate packages to reach customers. Increased cross-border transactions that occur due to the growth of e-commerce fuel the demand for global logistics solutions. Parcel delivery logistics companies are instrumental for online shopping, which is constantly growing, hence playing a significant role in supporting this ecosystem to spearhead continued growth in the sector.

In June 2023, United Parcel Service, Inc. (UPS) acquired MNX Global Logistics as a means of improvement in healthcare logistics services. The company will enable UPS to further increase its capabilities in transport services over radiopharmaceuticals and other pharmaceuticals that are temperature-sensitive and demanded in the areas of the United States, Europe, and Asia. UPS feels it could add more value by combining its offerings with MNX's expertise, leading to a better goal to strengthen its market position and make a move to head up the rising need for specialty parcel delivery services through leading a reliable and efficient logistics solution. This is part of a greater strategy by UPS to invest in new technologies and capabilities that spur the growth of the parcel delivery logistics market.

Technological Advancement to Drive Market Growth

Technological advancements are driving the growth of the parcel delivery logistics market by increasing efficiency, speed, and customer satisfaction. Innovations such as warehouse automation, real-time tracking, and data analytics are enabling logistics companies to improve inventory management, demand forecasting, and delivery route optimization. The automated sorting system and robot engineering in warehouses accelerate large amounts of facilities and reduce delivery time. Real-time tracking technology enhances transparency, wherein customers can control packages, improving overall experiences with customers. Last-mile delivery solutions such as drones, electric vehicles, and smart locker systems are making deliveries faster, more flexible, and greener. Data analytics enable companies to forecast demand, reduce costs, and avoid delays. These advancements will streamline logistics operations, meet high consumer expectations, and enable companies to scale their services effectively, thereby leading to significant growth in the parcel logistics market.

In July 2024, Apollo Global Management, Inc. entered an agreement to acquire Evri Limited., one of the United Kingdom's largest parcel delivery companies, from Advent International. Since its rebranding in 2022, Evri has built a strong national network for third-party e-commerce parcels and serves over 12 million customers weekly. Apollo’s investment aims to support Evri’s expansion, leveraging its innovative model and infrastructure for reliable lower-emissions delivery. This acquisition will enhance Apollo’s logistics capabilities and enable Evri to capitalize on growth opportunities in the fast-growing e-commerce market. By partnering with Apollo, Evri aims to scale efficiently and sustainably, thereby driving the growth of the parcel delivery logistics market.

B2B Segment to Dominate Parcel Delivery Logistics Market Share

The B2B segment is dominated by the package distribution market from the consistency of consumables that companies need. Unlike B2C, where individual consumers manage demand, B2B logistics often includes regular mass supply to support supply chains, production, and retail. Many businesses depend on reliable, on-time deliveries to maintain inventory, fulfill orders, and meet production deadlines, making them preferred customers for logistics service providers. B2B transactions often require specialized services such as freight forwarding, warehousing, and tracking solutions provided by logistics companies. This constant and large-scale demand makes B2B a major player in the parcel delivery market.

In October 2023, GXO Logistics, Inc. acquired PFSweb, Inc, an e-commerce order fulfillment platform based in the United States. PFSweb will enlarge its capabilities in high-growth verticals in North America and Europe, such as cosmetics and luxury goods through this acquisition. Service offerings from GXO are enhanced by leveraging relationships with more than 100 brands on board PFSweb and expertise in secure payments, fraud protection, and order orchestration. With the support of PFSweb, GXO could advance its market share and customer offerings, hence driving the growth of the parcel delivery logistics market based on introducing enhanced end-to-end logistics solutions that have expanded operations in the United States and beyond.

Asia-Pacific to Dominate the Parcel Delivery Logistics Market Share

Asia-Pacific dominates the share of the parcel delivery logistics market due to the booming e-commerce sector and large consumer base. Countries such as China, Japan, and India are seeing unprecedented online shopping growth, fueled by internet access, rising incomes, and urbanization. China plays a significant part of world’s sales of e-commerce due to large platforms, such as Alibaba and JD.com, which largely depend on the widened logistics networks to ensure fast delivery. In addition, the logistics infrastructure in Asia has led to in-depth investments, increasing the efficiency and coverage of internal and international supplies. The demand for cross-border e-commerce is further fueled by consumers increasingly purchasing products from other countries within the region. This strong e-commerce ecosystem coupled with technological innovations in logistics has positioned Asia as a dominant force in the global parcel delivery market.

In February 2024, The Bolloré Group sold Bolloré Logistics to CMA CGM Group for approximately USD 5.6 billion, enhancing CMA CGM’s logistics capabilities and market reach. This acquisition, valued at EUR 4.850 billion, strengthens CMA CGM’s position in the logistics sector, adding Bolloré Logistics’ extensive ocean and air freight operations and storage capacity. The combined entity will offer comprehensive services, driving growth of the parcel delivery logistics market by providing integrated solutions and expanding into new business areas.

Future Market Scenario (2024 – 2031F)

Drones and self-driving vehicles will become more prevalent, offering faster and more cost-effective delivery solutions especially for last-mile logistics in the forecast period.

The integration of advanced technologies such as AI, IoT, and blockchain will improve supply chain visibility optimize delivery routes and enhance customer experience.

There will be a greater emphasis on eco-friendly practices, including the use of electric vehicles and sustainable packaging materials to reduce the carbon footprint of logistics operations.

Logistics providers will offer more personalized delivery options such as flexible delivery times and locations to meet the unique needs of individual customers.

Key Players Landscape and Outlook

Companies use technology, expand infrastructure, and improve customer service. Many people invest in the sort of processes and warehouses to process the increase in facilities quickly and more accurately. Technologies such as real-time tracking and data analytics are being widely used to optimize routes, reduce costs, and provide accurate delivery estimates that improve customer satisfaction. Companies are focusing on last-mile innovations such as the use of electric vehicles, drones, and smart lockers to make delivery faster, greener, convenient, and safer for urban customers. Partnerships and acquisitions are a common strategy for expanding service networks and capacity buildings especially for cross-logistics. To raise the expectations of consumers for prompt delivery, some companies have built a local executive center close to the main customer base. Many logistics companies are emphasizing the importance of sustainability and are implementing environmentally friendly initiatives such as reducing packaging waste and optimizing delivery routes to reduce emissions. These concerted efforts are helping package delivery companies adapt to market demands and remain competitive in the face of the rapid growth of e-commerce.

In July 2024, United Parcel Service, Inc. announced an agreement to acquire ESTAFETA MEXICANA, S.A. DE C.V., a leading Mexican express delivery company, to enhance global logistics solutions and capitalize on the growing Mexico manufacturing boom and North American trade growth. This acquisition will integrate Estafeta's 45-year legacy with UPS's scale and expertise, providing reliable access to global markets for Mexican SMBs and manufacturers. By combining their resources, UPS aims to offer seamless, efficient services, creating a One UPS advantage. This strategic move will drive the growth of the parcel delivery logistics market by addressing the increasing demand for reliable, efficient logistics solutions amid global supply chain shifts, and nearshoring trends.