Market Research Report
Vietnam Express Delivery Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Destination, Business Type, and End User
|Vietnam Express Delivery Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Destination, Business Type, and End User|
Published: May 24, 2021
The Insight Partners
Content info: 150 Pages
Delivery time: 1-2 business days
The Vietnam express delivery services market is expected to grow from US$ 700.40 million in 2020 to US$ 1,655.96 million by 2028; it is estimated to grow at a CAGR of 11.4% 2020-2028.
Increase in adoption of smartphones and high penetration of internet is bolstering the adoption of e-commerce in Vietnam. This has also influenced businesses to adopt online selling channels to expand their respective customer bases. Express delivery services are being highly adopted by brands and e-commerce websites to offer better customer experience by delivering parcels in less time. Moreover, consumers placing place orders for food and luxury products, such as jewelry, are willing to spend more for quick product delivery. Further, due to the impact of COVID-19 pandemic, the business-to-consumer deliveries segment has witnessed growth in the last few months. Sellers in this segment are continuously importing raw materials and exporting final products to customers. Therefore, the need for express delivery services is continuously on rise in Vietnam.
The Vietnam express delivery services market is segmented based on destination, business type, end user, and geography. Based on destination, the Vietnam express delivery services market is segmented into domestic and international. In terms of business type, the market is segmented into business-to-business and business-to-consumer. Based on end user, the market is segmented into BFSI, automotive, pharmaceuticals, IT and Telecom, electronics, retail and e-commerce, and others.
DHL International GmbH (Deutsche Post DHL Group); EMS Viêt Nam; FedEx Corporation; GHN (Giao Hang Nhanh); GHTK; J&T Express Vietnam; Kerry Logistics Network Limited (Kerry Express); Nhat Tin Logistics; S.F. Express Co., Ltd.; Swift247 Co., Ltd; TNT Holdings B.V.; Vietnam Post; and Viettel Post are among the key Vietnam express delivery services market players profiled in this research study.
Impact of COVID-19 Pandemic on Vietnam Express Delivery Services Market
The emergence of COVID-19 virus across Vietnam-which led to lockdown scenarios-has led the industry experts to analyze that the industry would face at least a quarter of lag in offering express delivery services. This disruption is expected to create tremors through till mid-2021. The express delivery of parcels and electronics equipment is likely to pick up pace soon as the Vietnam government lifts the various containment measures steadily in order to revive the economy. Cancellations of flights for international delivery and travel bans to curb the spread of the pandemic, have led to substantial slowdown of express delivery service activities. There has been a decrease in letters and document parcels due to the pandemic. However, there is an increase in e-commerce parcels, owing to rising number of people shopping through online platforms. The delivery of daily essentials and e-commerce industry is anticipated to influence the express delivery services industry in Vietnam positively throughout the COVID-19 outbreak. The country's B2B express delivery services experienced a slowdown and came to a halt, whereas the B2C services are witnessing growth during the pandemic, owing to huge growth of the online retail and e-commerce industry. Further, due the interruption in supply chain and logistics, the procurement rate of various delivery services, including domestic and international, has been quite affected.
Overall size of the Vietnam express delivery services market has been derived in accordance to primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Vietnam express delivery services market.
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Vietnam Express Delivery Services market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Vietnam Express Delivery Services market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Vietnam market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution