The market for Courier, Express, and Parcel (CEP) in India is estimated to grow at a CAGR of more than 10.5% driven by the growth in the e-commerce segment, higher internet penetration into the masses, and the latest technological innovations in the sector.
India has been turning into a significant market for both domestic and international shipments with significant companies entering and expanding networks in the market. Innovation has become a key influencing factor for organizations to be seriously lined up with market trends and dynamics. India experienced high development in parcel volumes in 2018, up 21% year-over-year to 2.5 billion. worldwide parcel volumes reached 87 billion in 2018, up from 74 billion in 2017.
The logistics organizations, particularly in the CEP business must be thoughtful in regard to the technological investments which otherwise can make the business disturbed. The presentation of Goods and Service Tax (GST) in the country has likewise emphatically influenced the online/e-commerce logistics market since all the indirect taxes have been compiled into one. It permits the logistics companies to smoothen the movement of products inside the nation.
Keeping up the consistency of quality for service and overseeing cost simultaneously is a test for all the market players. Given the constant development in online business and the way that building one’s own system is over the top expensive, more associations are relied upon to occur in the market on the rear of weight on cost decrease. The developing significance and request in the course of the last-mile conveyance are compelling the market goliaths to drive their business all the more creatively.
