The global live package tracking market allows shippers and consumers to monitor package location and status in real-time. It provides delivery status updates via SMS, email or mobile applications. Live package tracking solutions find widespread usage for last-mile shipments of parcels, mail, and freight sent via major carriers including UPS, FedEx, as well as smaller parcel delivery services. These tracking solutions provide enhanced visibility for time-sensitive deliveries while helping businesses meet strict delivery deadlines.
The global live package tracking market is estimated to be valued at US$ 4.52 billion in 2024 and is expected to exhibit a CAGR of 9.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The booming e-commerce industry has been a primary driver behind the growth of the live package tracking market. E-commerce sales have grown exponentially in recent years as more people opt to shop online for variety of products. Live tracking allows e-commerce retailers to provide seamless delivery experience to customers from order to delivery. It helps companies meet delivery commitments and gain customer trust. Another factor fueling the market growth is increasing demand for transparency in package deliveries. Various industries including pharmaceuticals, manufacturing, and electronics rely on fast and reliable delivery of products and raw materials. Live tracking provides delivery status around the clock, helping avoid delays and address issues promptly. While technology advancements and automation have enabled real-time visibility for shipments globally.
Segment Analysis
The live package tracking market is dominanted by the B2C retail sub-segment, accounting for over 55% share. E-commerce retail sales have increased significantly over the past few years with growing internet penetration and preference for online shopping among consumers. This has driven the demand for advanced package tracking solutions that allow customers to monitor package movement and estimated time of delivery in real-time.
PEST Analysis
Political: Regulations around data privacy and security have been tightened in major economies. However, supportive policies have also been introduced to promote digitalization of logistics and supply chain operations.
Economic: The global economic slowdown due to the pandemic adversely impacted industries relying on supply chain and logistics. However, growth in the e-commerce sector provided some offsetting support to the live package tracking market.
Social: Younger demographic cohorts are more actively adopting online shopping trends and expect seamless delivery experiences. Real-time tracking enhances transparency and customer satisfaction during the order fulfillment process.
Technological: Adoption of IoT, geospatial technologies, and cloud infrastructure has enabled the development of advanced solutions for automated and continuous package tracking with mobile/web interfaces.
Key Takeaways
Global Live Package Tracking Market Demand is expected to witness high growth over the forecast period.
The Asia Pacific region dominates currently due to the large volumes of B2C shipments with China and India as major markets. Key players operating in the live package tracking market are Marriott International, Inc., Hilton Worldwide Holdings Inc., Accor S.A., InterContinental Hotels Group PLC, CWT (formerly Carlson Wagonlit Travel).
Key players operating in the live package tracking market are Marriott International, Inc., Hilton Worldwide Holdings Inc., Accor S.A., InterContinental Hotels Group PLC, CWT (formerly Carlson Wagonlit Travel). These players are focusing on partnerships, product innovation and service expansion to gain shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
