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COVID-19 Crisis To Have Long-Term Impact On Postal Services Market

Postal Services Global Market Report 2020-30: COVID-19 Impact And Recovery

Postal Services Global Market Report 2020-30: COVID-19 Impact And Recovery

The Business Research Company’s Postal Services Market Report - Opportunities And Strategies - Global Forecast To 2030

LONDON, GREATER LONDON, UK, November 25, 2020 /EINPresswire.com/ -- Avail up to 50% off on ALL research reports at: https://www.thebusinessresearchcompany.com/global-market-reports. Offer applies until Dec 31st.

The rapidly spreading coronavirus outbreak will have long-term effects on the postal service industry and its segments, i.e. letter post (communications and direct mail), parcels and logistics (delivery of e-commerce goods and supply chain solutions), financial services (e.g. remittances), and other products (e.g. citizen services). The postal services market is facing supply side shocks, such as labor shortages or the physical inability to carry on production activities owing to social distancing measures.

The disruptions in transport and availability of labor caused due to the coronavirus outbreak are putting a significant stress on the logistics of the international postal network. Even in countries that are not witnessing a shortage of labor supply, the cost of processing mail has increased because of additional security steps implemented in the transport of mail, from disinfection at the office of exchange to the observance of a safe distance between workers.

The global postal service market size reached a value of nearly $208.55 billion in 2019, having decreased at a compound annual growth rate (CAGR) of -0.1% since 2015. The market is expected to decrease from $208.55 billion in 2019 to $193.25 billion in 2020 at a rate of -7.34%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 1.60% from 2021 and reach $200.76 billion in 2023. North America accounted for 31.8% of the total postal service market share in 2019.

The postal services market segmentation is by type into express postal services and standard postal services. The standard postal services market was the largest segment of the postal services market segmented, accounting for 98.3% of the total in 2019. Going forward, express postal services segment is expected to be the fastest growing segment in the postal services market, at a CAGR of 1.2%.

Here Is A List Of Similar Reports By The Business Research Company:
Couriers And Messengers Market - By Type (Domestic Couriers Market, International Couriers Market) Type Of Coverage (Couriers And Express Delivery Services, Local Messengers And Local Delivery), By End-User (B2B, B2C, Others), And By Region, Opportunities And Strategies – Global Forecast To 2023
https://www.thebusinessresearchcompany.com/report/couriers-and-messengers-market

Domestic Couriers Global Market Report 2020-30: COVID 19 Implications and Growth
https://www.thebusinessresearchcompany.com/report/domestic-couriers-global-market-report-2020-30-covid-19-implications-and-growth

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https://www.thebusinessresearchcompany.com/report/general-transport-global-market-report-2020-30-covid-19-impact-and-recovery

Interested to know more about The Business Research Company?
The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally it has specialist consultants in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

Oliver Guirdham
The Business Research Company
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