From 2014 to 2019, global eCommerce sales have nearly tripled. The future of First mile, mid mile and last-mile delivery will be impacted by the continuation of this trend, with a predicted 36% increase in the number of delivery vehicles on our roads by 2030.The Indian ecommerce market is expected to grow to US$ 200 billion by 2026. Last-mile delivery contributes a significant 30% of the total cost of shipments in the e-commerce sector. It could be more troublesome in the cases of single package deliveries, where a tremendous amount of cost and fuel is involved in one delivery itself. We at Howddy are joining leading E-commerce companies who have announced that its fleet of delivery vehicles in the country will include 10,000 electric vehicles (EVs) by 2025. This surely seems like a promising market to cater to.
Moving on to the next biggest sector which is E Pharma, today we see a lot of unavailability of certain medicines in retail pharmacy stores, convenience for chronically ill patients and elderly for healthcare supplies, growing reach of eCommerce and the rise in number of patients adopting home care treatment. The delivery sector plays a major role in playing the middle man between service provider and end user.
The Global Courier Services Market size was 299 billion US$ and it is expected to reach 464 billion US$ by the end of 2025, with a CAGR of 6.5% during 2019-2025. Analysts believe that in the next few years, Courier, Express, and Parcel (CEP) market size in India will reach $3.2 Bn. The addressable medicine market for e-pharmacies delivery in the country stands currently at USD 9.3 billion and is estimated to grow at a CAGR of 18.1 per cent. The e-pharmacy market is expected to touch 18.1 billion by 2023. The online pharmacy market is slowly gaining momentum in the E-commerce industry space with it showing an impressive market penetration rate in both the rural and urban regions of India.
With an increase in demand from the country’s top leading industries and the growth of delivery services, with the merging of electric mobility seems to be an absolute win-win situation for all.