Vietnam Express Delivery Service Market Size & Share Revenue is Anticipated to Grow Around $4900 Million Mark by 2030, at a CAGR of 23.8%

Boston, MA, March 27, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled "Vietnam Express Delivery Service Market By Destination (International And Domestic), By Business Type (Business-To-Business And Business-To-Consumer), By End-User (BFSI, Automotive, Pharmaceuticals, IT & Telecom, Electronics, Retail & E-Commerce, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" in its research database.

"According to the latest research study, the demand of Vietnam Express Delivery Service Market size & share in terms of revenue was valued at USD 900 Million in 2022 and it is expected to surpass around USD 4900 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 23.8% during the forecast period 2023 to 2030."

What is Vietnam Express Delivery Service? How big is the Vietnam Express Delivery Service Industry?

Vietnam Express Delivery Service Report Coverage & Overview:

Express delivery service is a type of delivery service that focuses on providing fast and efficient delivery of packages and parcels. This service is typically used for urgent or time-sensitive shipments that require delivery within a short period of time. Express delivery services often offer same-day or next-day delivery options, as well as guaranteed delivery times. Express delivery services use various modes of transportation, including air, road, and rail, to ensure the timely delivery of packages. Companies may also use a combination of these modes to optimize their delivery network and minimize transit time.

Many express delivery services also utilize advanced tracking technologies to provide real-time updates on the status of packages and to enable customers to track their shipments. Express delivery services are widely used by businesses and individuals who need to send urgent documents, parcels, or goods. These services are commonly used in the e-commerce industry to deliver products to customers quickly and efficiently. The industry is highly competitive, with companies investing in technology and infrastructure to improve their service offerings and to meet the growing demand for express delivery services.

Various express delivery service companies in Vietnam offer a range of services, including same-day or next-day delivery, international delivery, and specialized services such as refrigerated transport for perishable goods. Express delivery services in Vietnam use a range of transportation modes, including motorbikes, trucks, and planes, to ensure fast and efficient delivery of packages and parcels.

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Vietnam Express Delivery Service Market: Growth Dynamics

The demand for the Vietnam express delivery service market is expected to surge exponentially due to the immaculate growth in Vietnam's economy that drives the growth of the market. There has been a significant surge in demand for express delivery services in the country as more businesses and individuals are engaging in e-commerce activities.

Thus, an increase in the number of internet and smartphone users in the country has remarkably contributed to the growing popularity of e-commerce platforms as more and more consumers in this region are incessantly expecting fast and reliable delivery of their online purchases. Besides, rapid urbanization and the availability of improved and advanced transportation infrastructure in the country be it airports, ports, roads, or highways, further improves the efficiency and reliability of express delivery services which are further expected to drive the growth of the market during the forecast period.

Besides, increase in the adoption of technology for the development of innovatively effective mobile applications and tracking systems and an increase in demand for cross-border e-commerce and international delivery options are further expected to create ample opportunities for the growth of the market during the forecast period. However, stiff competition among domestic and international players and limited trust among customers restrict the growth of the market to an extent during the forecast period.

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Report Scope

Vietnam Express Delivery Service Market: Segmentation Analysis

The Vietnam express delivery service market is segmented based on destination, business type, end-user, and region.

Based on destination, the market is bifurcated into domestic and international segments. The domestic segment held the largest market share in 2022 and is further predicted to grow rapidly at a notable CAGR during the forecast period. The major reason for the growth of this segment is the ease of transportation and availability of favorable initiatives from the government to promote express delivery services within the country. In addition, domestic express delivery is very convenient and cost-effective for customers and also fairly more profitable and less tedious than international express deliveries. International express delivery services are typically more complex and require specialized knowledge and infrastructure to handle customs clearance and other international regulations. These factors are expected to drive the growth of the segment during the forecast period.

The end-user comprises BFSI, automotive, pharmaceuticals, IT & telecom, electronics, retail & e-commerce, and others.

Based on business type, the market is segmented into B2B and B2C segments. The B2C segment is expected to grow at the fastest CAGR during the forecast period. The growth of this segment is mainly due to the increase in the popularity of e-commerce among people. In addition, the availability of reliable internet services and an increase in the number of users along with the rapid adoption of smartphone devices among people drive the growth of the segment. Besides, this segment is expected to continue growing in the coming years, driven by the growth of online marketplaces and the increasing adoption of digital payment methods. While the volume of goods transported in B2C delivery may be smaller, the high volume of transactions can result in higher overall revenue for the service provider. These factors drive the growth of the segment.

The Vietnam Express Delivery Service market is segmented as follows:

By Destination

• International
• Domestic

By Business Type

• Business-to-Business
• Business-to-Consumer

By End-user

• BFSI
• Automotive
• Pharmaceuticals
• IT & Telecom
• Electronics
• Retail & E-commerce
• Others

Browse the full "Vietnam Express Delivery Service Market By Destination (International And Domestic), By Business Type (Business-To-Business And Business-To-Consumer), By End-User (BFSI, Automotive, Pharmaceuticals, IT & Telecom, Electronics, Retail & E-Commerce, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report at https://www.zionmarketresearch.com/report/vietnam-express-delivery-service-market

Competitive Landscape

Some of the main competitors dominating the Vietnam Express Delivery Service market include - 

• Vietnam Post Corporation (VNPost)
• Viettel Post Joint Stock Corporation
• DHL Express Vietnam
• FedEx Express Vietnam
• J&T Express
• EMS Vietnam
• UPS Vietnam
• GHN Express
• GrabExpress
• Go-Viet Delivery
• Ninja Van Vietnam
• TikiNow
• Lazada eLogistics Vietnam
• Shopee Express Vietnam
• Zalo Express
• BEST Express Vietnam (BEST Inc.)
• Nin Sing Logistics Company Limited (Ninja Van)
• Swift247
• Kerry Express (Vietnam)
• VietXpress
• GHTK
• Vietrans
• APEX Logistics
• Vinafco
• Nasco Logistics JSC
• Nhat Tin Logistics
• VNPost

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Vietnam Express Delivery Service market is likely to expand at a CAGR of around 23.8% during the forecast period (2023-2030).
• In terms of revenue, the Vietnam Express Delivery Service market size was valued at around US$ 900 Million in 2022 and is projected to reach US$ 4900 million by 2030.
• Express delivery service is a type of delivery service that focuses on providing fast and efficient delivery of packages and parcels. This service is typically used for urgent or time-sensitive shipments that require delivery within a short period of time. Express delivery services often offer same-day or next-day delivery options, as well as guaranteed delivery times.
• Based on destination, the domestic segment held the largest maker share in 2022.
• Based on business type, the B2C segment is predicted to cite the fastest CAGR during the forecast period.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Vietnam Express Delivery Service industry?
• What are the main driving factors propelling the Vietnam Express Delivery Service Market forward?
• What are the leading companies in the Vietnam Express Delivery Service Industry?
• What segments does the Vietnam Express Delivery Service Market cover?
• How can I receive a free copy of the Vietnam Express Delivery Service Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Destination, By Business Type, By End-user, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

Based on region, express delivery service in Vietnam has been experiencing rapid growth in recent years, driven by the country's robust economic growth and increasing adoption of e-commerce. Vietnam has a number of domestic and international express delivery service providers who offer a range of services, including same-day or next-day delivery, international delivery, and specialized services such as refrigerated transport for perishable goods. In addition, persistent technological advancements in the region have leveraged companies in the country to invest heavily in technology and infrastructure to overcome transportation challenges and provide reliable and efficient delivery services across the country.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

In December 2021, VNPost, Vietnam's largest postal operator, launched a new express delivery service called "eParcel Express" aimed at meeting the growing demand for e-commerce deliveries. The service offers same-day and next-day delivery options for both domestic and international shipments.

In November 2021, GrabExpress, an on-demand delivery service arm of ride-hailing giant Grab that has live GPS tracking, expanded its express delivery services to cover more areas in Vietnam. The company now offers on-demand delivery services in over 200 cities and provinces in Vietnam, including remote and rural areas.

In October 2021, Giao Hang Tiet Kiem, a dominant Vietnamese logistics and delivery company, secured a $100 million investment from a consortium of investors, including Warburg Pincus, Temasek Holdings, and SoftBank Vision Fund 2. The funding will be used to expand the company's logistics network and enhance its technology platform.

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FREQUENTLY ASKED QUESTIONS

• What is Express Delivery Service?
• Which Key factors will influence Vietnam Express delivery service market growth over 2023-2030?
• What will be the value of the Vietnam express delivery service market during 2023 – 2030?
• What will be CAGR value of Vietnam express delivery service market during 2023 – 2030?
• Which region will contribute notably towards the Vietnam express delivery service market value?
• What are the major players leveraging the Vietnam express delivery service growth?

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