According to The Insight Partners’ latest market study on “Courier Management Software Market to 2027 – COVID-19 Impact, and Global Analysis and Forecast – by Deployment Type (Cloud and On-Premise); Enterprise Size (Small and Medium-Size Enterprises and Large Enterprises); and Geography,” the market was valued at US$ 392.5 million in 2019 and is projected to reach US$ 908.4 million by 2027; it is expected to grow at a CAGR of 11.6% from 2020 to 2027.
Automated solutions are important both in the public and private sectors. There are various organizations offering solutions to both these sectors. Courier Software Ltd offers solutions such as AIMS Web Services, AIMS Driver App, AIMS Booking Sites, and AIMS Express for the European customers. In APAC the rapid developments in technologies, digitalization of economies, and adequate support by governments are among the factors contributing to the smooth evolution of these economies from the developing to developed stage. The demand for automated solutions is expected to grow substantially during the forecast period, with the growing penetration of cloud-based (majorly in East Asian countries).
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In 2019, APAC led the global courier management software market with 31.32% revenue share, followed by Europe, and North America. APAC includes Australia, China, India, Japan, South Korea, and Rest of APAC. APAC is the world's largest continent and is well known for its technological innovations in the above-mentioned countries. The integration with advanced technologies has created more opportunities to expand the courier management software market. The digitalization over the cloud has increased the number of new apps to store the data. For instance, in OnTime 360, Onfleet, GSMtasks, Digital Waybill are some of the best international courier that is located in different countries. In addition, the courier industry in the region is highly vibrant and is driven by various factors. The factors that are driving the changes in the industry are technological advancement, which is leading to digitalization, and business expansion of foreign companies in APAC region.
Companies adopt inorganic market strategies to expand their footprints across the world and meet the growing demand. The courier management software market players mainly focus on the acquisition strategy to expand their business and maintain their brand name globally. For instance, in 2020, ClickSWITCH, declared a partnership with Newgen Software Technologies to deliver mutual customers a seamless integrated experience.
Impact of COVID-19 on Courier Management Software market
The commencement of the COVID-19 epidemic has caused momentous supply chain and logistics disruptions across the world. The COVID-19 pandemic is one of the largest disrupting forces, with the region’s continuing to combat outbreaks and significant community spread. A huge increase in the number of confirmed cases and rising reported deaths in the country has affected software providers to some extent due to the decrease in demand for their products. The business shutdowns as well as disruption in supply chain across the world are impacting the adoption of the courier management software market. The North America region is home to a large number of technology companies, and the impact of COVID-19 outbreak is anticipated to be moderate in the year 2020 and likely in first quarter of 2021. The impact of COVID-19 is short-term; it is likely to decrease in the coming years.
The players operating in the enterprise content management market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In Oct 2020, The company's new validation feature NetCourier v8.18 would save the warehouse and operations team time. It will sanitize all phone numbers before they are sent to DPD/DPD Local and Royal Mail to ensure that they are valid, reducing the need for manual intervention. The other features include a streamlined invoicing module, ups paperless documentation, batch repricing, improved tracking, and updated character limit.
- In Feb 2018, CourierManager introduced a software solution dedicated to courier and logistics companies. The company is continually developing the platform by adding new functionalities useful in delivery management to adapt our software to its clients’ needs.
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