According to the recent research report titled ‘Global Time Definite Parcel Market - Analysis By Product (, Mode of Transport, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with Market Study Report, global time definite parcel market was worth USD 137283.41 million in 2019 and is projected to record a considerable growth during 2020-2025.
 

Global time definite parcel market growth is primarily driven by innovation in parcel delivery systems, improvements in logistics quality and competence, and growing international shipping. In addition, mounting demand for time definite products, services, documents, and information among businesses and consumers is also contributing to the overall market outlook.
 

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Since the distribution is based on speed rather than cost efficiency, time definite packages are correlated with higher costs. The cost structure gap between time-definite and e-commerce parcels was a major stumbling block for worldwide time definite parcel industry. However, industry giants such as DHL, SF, UPS, and FedEx, by introducing advanced technology into the distribution process and applying cost-competitive delivery approaches revived the market dynamics.
 

Rising transactions, e-commerce operation, and growing significance of monitoring and tracing the status of the parcel are also expected to drive demand for time definite parcel services.
 

Speaking of latest developments, leading businesses like UPS, FedEx, and DPDHL encountered major organizational disturbances at the start of the coronavirus pandemic due to the suspension of business operations as a result of strict lockdown measure. Nonetheless, the pandemic has resurrected worldwide recognition of web business and prompted organizations to push for a slew changes and advancements in delivery that will accelerate market growth in the future.
 

Based on product type, global time definite parcel industry is segmented into B2B and B2C. Following COVID-19 pandemic, there has been an increase in the usage of e-commerce websites for purchasing high-end brands and fresh food by major population in China and other countries, which will fuel the demand for time-critical deliveries in the B2C segment.
 

With respect to mode of transport, worldwide time definite parcel market is split into roadways, waterways, and airways. Of these, airways segment is expected to gain traction through 2025, credible to customers preference for airways for cross-country transport of packages. It is the fastest mode of transport and best for the shipping of goods and documents that must be delivered on a priority basis.
 

Geographically, Europe is poised to lead the time definite parcel market expansion over 2020-2025, owing to the presence of leading firms, high-quality logistics and expertise, and rising internet retailing.
 

Major companies profiled in global time definite parcel market report are ZTO Express (Cayman) Inc., United Parcel Service Inc. (UPS), FedEx Corp., Time Definite Express Ltd., Sky Net Worldwide Express, U.S. Logistics Inc., Deutsche Post DHL Group, JD Logistics Inc., YTO Express Group Co. Ltd., and S.F. Holding Co. Ltd.