Vietnam Express Delivery Service Market Is Further Predicted to Grow Around $4.9 Billion By 2030

Global Vietnam Express Delivery Service Market To Expand At 23.8% CAGR Through 2030

The Vietnam express delivery service market size was worth around $900 Million in 2022 and is further predicted to grow to around $4900 Million by 2030, with a compounded annual growth rate (CAGR) of 23.8% during the forecast period 2023-2030.

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. 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.

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.

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.

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.

This review is based on a report by Zion Market Research, 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.”- Report at https://www.zionmarketresearch.com/report/vietnam-express-delivery-service-market

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.

Vietnam Express Delivery Service Market: Competitive Landscape:

The Vietnam express delivery service market is dominated by players such as:

• BEST Express Vietnam (BEST Inc.)
• Nin Sing Logistics Company Limited (Ninja Van)
• Swift247
• Kerry Express (Vietnam)
• UPS Vietnam
• TikiNow
• GHN (Fast Delivery)
• GrabExpress
• Lazada Express
• Viettel Post
• VietXpress
• GHTK
• J&T Express (Vietnam)
• Vietrans
• APEX Logistics
• Vinafco
• Nasco Logistics JSC
• Nhat Tin Logistics
• VNPost.

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

By Region

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

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