With reference to the data in Figure 1, explain the market structure that best describes the domestic parcel delivery market in Country Y.
Figure 1: Market share of domestic parcel delivery providers in Country Y (by parcel volume)
| Brand | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 |
|---|---|---|---|---|---|
| SwiftPost | 45.2% | 43.8% | 42.1% | 40.5% | 39.2% |
| FlashExpress | 22.4% | 23.5% | 24.8% | 25.6% | 26.4% |
| Atlas Logistics | 15.1% | 15.6% | 16.2% | 16.9% | 17.5% |
| DirectSend | 6.8% | 6.4% | 6.1% | 5.8% | 5.5% |
| ParcelGo | 4.2% | 4.0% | 3.8% | 3.5% | 3.2% |
| Others | 6.3% | 6.7% | 7.0% | 7.7% | 8.2% |
