Pitney Bowes Parcel Shipping Index Reports Continued Growth as Global Parcel Volume Exceeds 100 billion for First Time Ever
Pitney Bowes Inc. (NYSE: PBI), a global technology company that provides commerce solutions in the areas of ecommerce, shipping, mailing, data and financial services, today released the latest Pitney Bowes Parcel Shipping Index. The annual report found that global parcel volume surpassed 100 billion in 2019, reaching 103 billion. More than three of every five parcels shipped in the world’s major markets are generated by China. Over 3000 parcels were shipped every second in 2019 in the world’s 13 major markets. The report forecasts parcel volume is most likely to more than double and reach 220-262 billion parcels by 2026, with a 14.8 percent CAGR for 2020-2024. Due to increased uncertainty fueled by the global pandemic, the forecast provides a range that shows volumes could be as low as 200 billion or as high as 316 billion parcels in six years.
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The Index also highlights the advance of Amazon Logistics as a major market player, delivering 1.9 billion packages in the US alone through its in-house delivery network, showing 155% parcel volume growth in 2019 year-over-year and forecasting its CAGR at 30 percent from 2020-2024. Amazon Logistics has been rapidly increasing their delivery capacity in the US and expects to compete for external business with traditional carriers. This effort has been stalled somewhat in 2020 driven by COVID-19 and the significant increase in Amazon’s own shopping volume. Amazon’s overall US parcel volume (including Amazon Logistics Network and parcels given to USPS and other carriers) increased by 22% year-over-year.
The Pitney Bowes Parcel Shipping Index measures 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 3.8 billion people in the U.S., Canada, Brazil, Germany, UK, France, Italy, Norway, Sweden, China, Japan, Australia and India. Based on proprietary and published data, the Index has become a valued industry benchmark and a reliable source of accurate forecasting since the inaugural report in 2015.