Live Package Tracking Market Poised to Witness High Growth Due To Increasing E-Commerce Sales

Live Package Tracking Market Size

The live package tracking market allows consumers to track their packages in real-time from the point of shipment to the point of delivery. Live tracking provides up-to-date information on package location and estimated time of delivery. This gives consumers visibility and peace of mind during transit. With more people shopping online, the need for transparency during delivery has increased. E-commerce sales have grown exponentially in recent years due to the convenience and choices offered online. As online shopping continues to rise, demand for delivery tracking will also increase, driving the live package tracking market.

The Global live package tracking market is estimated to be valued at US$ 4.1Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the live package tracking market include Marriott International, Inc., Hilton Worldwide Holdings Inc., Accor S.A., InterContinental Hotels Group PLC, and CWT (formerly Carlson Wagonlit Travel). These companies are investing in technology and partnerships to expand their tracking capabilities.

There is opportunity to cater to the surge in online orders due to the pandemic. Live Package Tracking Market Size tracking providers can capitalize on this growth by enhancing location accuracy and frequency of updates.
Major players are expanding globally to service the delivery needs of international retailers. Live tracking across borders allows sellers to offer seamless delivery experience worldwide.

Market Drivers

Increasing E-Commerce Sales: Over the past few years, online shopping has grown significantly. This has put pressure on logistics companies to handle growing volumes efficiently. Real-time tracking satisfies consumers' need for visibility during delivery.
Transparency Builds Trust: Providing updates on package location helps shippers gain customers' confidence. Live tracking reduces anxiety and chances of disputes over missing or lost packages.

Market Restraints

Data Privacy Concerns: Some customers worry about privacy as live tracking reveals information like home addresses. Allaying such fears can boost adoption.
Network Connectivity Issues: Interruptions in location updates due to unreliable mobile or GPS networks affect user experience negatively. Dependence on third-party technology poses challenges.

Segment Analysis

The Live Package Tracking Market is dominated by the Business-To-Consumer (B2C) sub-segment. This is because most of the packages delivered on a regular basis are for consumer purchases from online retail shops. Live package tracking services help consumers get regular updates about the delivery progress and estimated time of arrival so that they can plan accordingly. The B2C sub-segment accounts for over 60% of the total live package tracking market revenue.

Global Analysis

In terms of regions, North America dominates the global live package tracking market with over 35% share. This can be attributed to high e-commerce penetration and expanding logistics infrastructure in countries like US and Canada. Large logistics companies also have better GPS enabled tracking systems for real-time updates. Asia Pacific is the fastest growing regional market projected to expand at a CAGR of 15% during the forecast period. Rapid growth of online retail industry and logistics companies in developing Asian countries like China and India will drive further adoption of live package tracking. Europe follows in terms of revenue on back of stringent rules regarding shipment visibility across borders.

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