Hyderabad: A 400-strong technology team is working in five states in the country including at Hyderabad, Bengaluru and Goa for technology development for the Gurgaon-based Delhivery, an Indian Logistics and e-commerce supply chain company. Delhivery Ltd, the largest and fastest-growing 3PL express parcel (and heavy parcel) delivery player in India by volume and revenue as of fiscal 2021 and Q1 Fiscal 2022, is well poised to leverage growth opportunities in the express parcel segment, the company said in a release here on Monday. The express parcel segment is slated to grow at a CAGR of 28-32 percent and is expected to reach US $ 10-12 billion by fiscal 2026 from an estimated US $ 2.3 billion in size during fiscal 2020. The Company had a market share of 20 percent of the overall e-commerce volumes (including captive players) for the first quarter of Fiscal 2022. India’s increasing GDP per capita income, growing middle-income segment, changing demography of working-age population such as Millennials and Generation Z, low-cost smartphones and reliable internet connectivity, along with increasing online shoppers and e-commerce marketplaces, are the key growth drivers for Delhivery’s business The Express delivery segment has been driven by the growth of e-commerce and rising customer expectations for delivery speed. The e-commerce industry in India grew by 31 percent from fiscal 2018 to fiscal 2020 and is estimated to further grow by 30-33 per cent from fiscal 2020 to fiscal 2026. Total e-commerce volume was estimated to be 1.5 billion shipments in fiscal 2020, which is expected to reach 8-9 billion by fiscal 2026, at a CAGR of 32-35 percent. The company has delivered more than 1 billion express parcel shipments since incorporation. The company’s shipment volume grew from 148.49 million orders in fiscal 2019 to 289.20 million orders in fiscal 2021 on an annual basis, representing a CAGR of 40 percent. In the three months ended June 30, 2021, the company delivered 101.69 million shipments. In the three months ended June 30, 2021, 18,600 active customers have used the company’s express parcel delivery services. The company’s customers include e-commerce marketplaces, vertical e-commerce retailers, D2C brands, Omni-channel retailers, SMEs, banks, and financial institutions. Delhivery express parcel delivery network serviced 17,045 PIN codes in the six months ended June 30, 2021, covering 88.3 percent of the 19,300 PIN codes in India as of June 30, 2021 (per India Post). It is capable of handling consignments of up to 10 kilograms with same-day and next-day capabilities and 48-96 hour deliveries for long-distance orders, the release added.