June 22, 2024
Live Package Tracking Market

Live Package Tracking Market is poised to grow by proximity logistics technology by 2031

The live package tracking market provides real-time geo-location and status updates for packages being shipped between organizations, enabling enhanced visibility and efficiency. Technologies like Bluetooth Low-Energy (BLE) and GPS are commonly integrated into parcel tracking devices to continuously broadcast location data and delays to shippers and recipients. The growing e-commerce industry has augmented demand for such solutions to improve customer experience through transparency during deliveries.

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 from 2024 to 2031.

Key players operating in the live package tracking market are Marriott International, Inc., Hilton Worldwide Holdings Inc., Accor S.A., InterContinental Hotels Group PLC, and CWT (formerly Carlson Wagonlit Travel).

Key Takeaways

Key players operating in the live package tracking are Marriott International, Inc., Hilton Worldwide Holdings Inc., Accor S.A., InterContinental Hotels Group PLC, and CWT (formerly Carlson Wagonlit Travel). Proximity logistics technology vendors are gaining significant traction in the market. Growing e-commerce sales and an expanding parcel delivery network is fueling demand for improved visibility during transit. Several logistics companies are investing in global tracking infrastructure to strengthen international delivery coverage.

Market Key Trends

Proximity technologies like Bluetooth and GPS have enabled real-time Live Package Tracking Market Size tracking capabilities. Devices attached to shipments can now broadcast location updates every few minutes to mobile apps, enabling unprecedented visibility. This has enhanced customer experience and logistics efficiency. Such technologies are expected to proliferate further and support innovative use cases around predictive analytics and automated notifications.

Porter’s Analysis

Threat of new entrants: New entrants in the live package tracking market find it difficult due to high initial investment and established brands.
Bargaining power of buyers: Buyers have high bargaining power due to large number of players providing live package tracking services.
Bargaining power of suppliers: Suppliers have low bargaining power as players can easily switch to alternate technology providers.
Threat of new substitutes: Substitutes like regular package tracking pose minimal threat due to unique value proposition of live tracking.
Competitive rivalry: Intense competition among existing players to gain market share.

The geographical region where the live package tracking market is most concentrated in terms of value is North America. The region accounts for over 40% market share currently due to high e-commerce sales and well established logistics infrastructure.
Asia Pacific region is growing at the fastest pace for the live package tracking market. Countries like China, India and Japan are experiencing exponential growth in both domestic and cross-border e-commerce. This is driving the adoption of live tracking services in the Asia Pacific region

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.