Express delivery services refer to the transportation of goods, such as documents, packages, and parcels, within a specified time frame. In Vietnam, express delivery services have gained popularity in recent years due to the increasing demand for fast and reliable delivery services, particularly in e-commerce.
The Vietnam express delivery service market is expected to experience significant growth in the coming years, driven by the growth of the e-commerce sector and the increasing demand for fast and reliable delivery services. Market players can take advantage of this growth opportunity by investing in technology, expanding their geographic reach, and enhance their service offerings.
The Vietnam express delivery service market was valued at US$ 1.7 billion in 2020 and is expected to reach US$ 2.8 billion by 2028, growing at a CAGR of 6.2% during the forecast period (2023-2028). The growth of the e-commerce sector, the increasing number of small and medium-sized enterprises, and the growing demand for fast and reliable delivery services are driving the growth of the market.
Vietnam Market: Regional Analysis
The market is segmented into North, Central, and South regions. The North region is expected to hold the largest share of the market, due to the high concentration of population and businesses in cities such as Hanoi and Hai Phong. However, the South region is expected to grow at the fastest rate, due to the increasing demand for express delivery services in cities such as Ho Chi Minh City and Binh Duong.
The Vietnam express delivery service market is highly competitive, with a large number of players. Some of the key players in the market include Viettel Post, Giao Hang Nhanh, VNPost, J&T Express, and GrabExpress. These players are focusing on expanding their geographic reach, enhancing their service offerings, and investing in technology to stay ahead of the competition.
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- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.