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Surge in the e-commerce industry, rise in B2C deliveries, and growth in international trade services drive the growth of the Vietnam express delivery services market. The outbreak of covid-19 pandemic led to suspend B2B express delivery services whereas B2C emerged during the pandemic, owing to rapid growth of the online retail and e-commerce industry. Prominent Players: GHN (Fast Delivery), GHTK, J&T Express (Vietnam), Kerry Express (Vietnam), Nasco Logistics JSC, Nhat Tin Logistics, Nin Sing Logistics Company Limited (Ninja Van), Swift247, Viettel Post, and VNPost.Vietnam Express Delivery Services Market by end use, the e-commerce platform segment dominated the Vietnam express delivery services market in 2019, in terms of revenue, while the others segment is anticipated to witness the highest CAGR of 27.93% during the forecast period. In addition, by application, the B2C segment dominated the Vietnam express delivery services market in 2019. Whereas, the B2B segment is expected to grow at the highest CAGR during the forecast period.
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Key Findings Of The Study
• On the basis of application, the B2B segment is anticipated to exhibit a remarkable growth during the forecast period.
• On the basis of end use, the e-commerce platform segment is the highest contributor to the Vietnam express delivery services market in terms of revenue.
• On the basis of destination, the domestics segment is the highest contributor to the Vietnam express delivery services market in term of volume.
According to a recent report published by Allied Market Research, titled, Vietnam Express Delivery Services Market by Application, End Use, and Destination: Opportunity Analysis and Industry Forecast, 2020–2027,”
The Vietnam express delivery services market was valued at $0.63 billion in 2019, and is projected to reach $2.2 billion by 2027, registering a CAGR of 19.1%.
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Express delivery is the fastest form of shipping that involves the delivery of various goods and products through different mediums such as air, water, and land. The customer pays an extra shipping cost for this type of delivery as the shipment will get transported to him anywhere between 24 to 72 hours depending on the distance of the shipment. In express shipping, the price and rates are also higher than other forms of transportation.
Express delivery services significantly operate on the business-to-business (B2B), business-to-customer (B2C), and customer-to-customer (C2C) models. These include personal and business items such as letters, documents, merchandise, consumer goods, and other non-palletized goods. Several express delivery service providers also offer value-added services such as packaging, labeling, billing, payment collection, return, and exchange.
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The growth of value-added services in express delivery is one of the latest trends that will contribute to the growth of the market in Vietnam. Service providers in the express delivery services market in Vietnam are increasingly focusing on providing distinct types of services, such as grading & assortment of products, packaging, labeling, online tracking of parcels, mobile applications, e-mail, and SMS alerts.
COVID-19 Impact Analysis:
The outbreak of COVID-19 has brought effects on many aspects, such as flight cancellations, travel bans, and quarantines, which resulted in massive slowing of express delivery service activities across the world. The coronavirus pandemic is an unprecedented crisis with dramatic economic impacts on the Vietnam express delivery services industry. Although the pandemic has accelerated the decline of letters & document parcel and growth of e-commerce parcels due to increased number of people shopping from home. E-commerce and daily essentials goods industry is expected to affect the express delivery service industry positively during the COVID-19 outbreak in Vietnam. As B2B express delivery services suffered and came to a halt, B2C emerged during the pandemic, owing to rapid growth of the online retail and e-commerce industry.
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Moreover, a significant number of customers are willing to pay additional charges for same day express delivery, which led to a rise in the express delivery services market in Vietnam. Moreover, logistics automation and adoption of robotics for efficient same day delivery services process is identified as another trend in express delivery services.
Furthermore, factors, such as the growing e-commerce industry coupled with rise in B2C deliveries and rapid growth in international trade services, are expected to drive the market growth. However, lack of infrastructure and higher operational costs hinder the market growth. Further, rise in technological advancements in delivery services and emergence of last-mile deliveries with technological advancements in delivery vehicles are some of the factors that are expected to offer lucrative opportunities for the market growth.
Vietnam Express Delivery Services Market to Reach $2.19 Billion by 2027: Allied Market Research
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