The global courier software market is estimated to secure US$ 1.4 Billion by 2032 while displaying a CAGR of 10% during the forecast period. The market is expected to value at US$ 543 Million in 2022. The growth of the market can be attributed to the increasing adoption of SaaS and the growing investment in courier management services.

The deployment of smart technologies in courier services is anticipated to play an important role in expanding the market size in the forecast period. Digitalization over the cloud has increased the number of new apps to store the data. Onfleet, GSMtasks, OnTime 360, and Digital Waybill are some of the eminent courier services that deploy smart technologies. Besides, players are introducing new technologies in the service, which will benefit the market in the forecast period. For instance, in May 2022, Pickrr, a renowned SaaS-based logistics platform, introduced ‘Pickrr Advantage’, value-added equipment that optimizes performance across the destination pin codes on an auto-learning mode.

Additionally, players in the market are raising funds which is anticipated to augment the market growth in the assessment period. In May 2022, Cartwheel, an on-demand delivery management platform for couriers, retailers, and others, announced that it had raised US$ 3 Million in seed funding. The funding was led by Moonshots Capital, with the participation of Chingona Ventures and existing investors including Act One, Pitbull, and TenOneTen Ventures.

What are the Primary Factors Contributing to the Development of Courier Software Market?

Increasing investment in courier software by e-commerce companies and the growing adoption of software as a service are expected to drive the courier software market during the forecast period. Investment in courier software has transformed the delivery services and offered benefits such as; enhancing customer communication and providing real-time visibility, among others. Such benefits are expected to boost the market in the forecast period.

Integration of smart technologies in courier services is projected to augment the market size in the forecast period. Digitalization over the cloud has boosted the number of new apps to store the data. For instance, Onfleet, GSMtasks, OnTime 360, and Digital Waybill, are some of the renowned courier services that integrated smart technologies and are renowned across the globe.

Players in the market are introducing innovative technologies in the service which is anticipated to benefit the market expansion in the forecast period. For instance, in May 2022, Pickrr, a renowned SaaS-based logistics platform, introduced ‘Pickrr Advantage’, value-added equipment that optimizes performance across the destination pin codes on an auto-learning mode. It provides smart courier allocation management with a first-time SLA and promises breach benefits. Such initiatives are expected to propel market expansion in the assessment period.

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