Indian logistics market has registered a hefty CAGR of 25% in parcel volume between 2013-18 and the trajectory is expected to be in over 20 percent range in the coming years. This is a major takeaway of Pitney Bowes, a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing, data and financial services, recently unveiled report titled Pitney Bowes Parcel Shipping Index.
The annual report discovered global parcel volume reached 87 billion in 2018, up from 74bn parcels in 2017 and the highest since the Index began. Despite unprecedented global trade uncertainty, the report forecasts this figure will more than double within the next six years and reach 200 billion parcels by 2025 with a 13.7 percent CAGR for 2019-2023.
The Pitney Bowes Parcel Shipping Index measures both volume and spend for business-to-business, business-to-consumer, consumer-to-business and consumer consigned shipments with weight up to 31.5 kg (70 lbs.) in 13 major markets, representing 3.7 billion people – U.S., Canada, Brazil, Germany, UK, France, Italy, Norway, Sweden, China, Japan, Australia and India.
The report projects global shipping volume surpassing 100 billion parcels in 2020 in aggregate across the 13 countries reviewed. China remains the strongest influence on the market with 51 billion parcels shipped in 2018. Excluding China, parcel volume increased by 6 percent, from 34 billion in 2017 to 36 billion in 2018. Global parcel revenue remains strong, reaching $317bn – up 13 percent since the previous year.