Pune, Feb. 22, 2023 (GLOBE NEWSWIRE) -- The global last mile delivery market size is expected to reach USD 75493.50 million in 2028 and register a rapid revenue CAGR of 10.00% during the forecast period. Key factors such as rapidly growing automotive, retail, food and beverages, and manufacturing industries, latest trend of door-to-door delivery, and advancements in drones, droids, and autonomous ground vehicles are expected to drive global market revenue growth between 2022 and 2028. Get the Sample PDF Copy of Report (Including Full TOC, List of Tables & Figures, and Chart): https://www.xcellentinsights.com/enquiry/sample/193968
Last mile delivery is a process of providing faster, easier and smoother shipping of goods and products directly to the consumers. It is the last step of the total delivery process in which the parcel is moved from a transportation hub to its final destination, usually a personal residence, office, or retail store. Last mile delivery services are rapidly gaining traction owing to changing consumer behavior and lifestyle patterns, growing preference for online shopping, and increasing demand for fast, cost-effective door-to-door delivery. These services are widely used across various sectors such as e-commerce, FMCG, retail, healthcare, and mail and packages.
Factors such as increasing trading activities, changing consumer patterns, rapid advancements in delivery vehicles, and rising inclination towards autonomous delivery are expected to drive global market revenue growth going ahead.
However, factors such as rising corruption in the supply chain, lack of transparency among online sellers, insufficient routing, unpredictability in transit, unavailability of proper delivery infrastructure, and lack of funds to upgrade delivery tools and technology are expected to hamper overall market growth to a certain extent during the forecast period.
List of Key Companies Operating in the Market:
- UPS Supply Chain Solutions
- DHL Supply Chain and Global Forwarding
- FedEx
- Kuehne + Nagel
- SF Express
- XPO Logistics
- DB Schenker Logistics
- Nippon Express
- GEODIS
- CEVA Logistics
- J.B Hunt
- Agility
- Hitachi Transport System
- DSV
- YTO Express
- Panalpina
- Toll Holdings
- Expeditors International of Washington
- GEFCO
- ZTO Express
- STO Express
- Dachser
- C.H Robinson Worldwide
- Sinotrans
- Yusen Logistics
Last Mile Delivery Market Recent Developments:
- In March 2022, Google announced the launch of an integrated last mile fleet solution to assist feel operators from initial e-commerce orders to final delivery. The company decided to launch this as millions of packages go missing or undelivered every year due to wrong addresses or unavailability of consumers to receive packages.
- In September 2022, Celcius Logistics announced the launch of special, tech-enabled supply chain solutions for last mile delivery. The product is expected to address and fix India’s fragile cold supply chains.
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The global last mile delivery market has been segmented based on type, application, and region:
Market Segment by Type:
- B2C
- B2B
B2C Segment To Register Rapid Revenue CAGR:
The B2C segment is expected to register rapid revenue CAGR over the forecast period owing to rapidly expanding e-commerce sector, rising B2C marketing, increasing penetration of online platforms for shopping, and food delivery, and high focus on improving B2C services.
Market Segment by Application:
- 3C Products
- Fresh Products
- Others
3C Products Segment to Account for a Significantly Larger Revenue Share:
The 3C products segment is expected to account for a significantly larger revenue share during the forecast period. This can be attributed to rapidly expanding consumer electronic sector, increasing penetration of internet services and smart devices, rising demand for computer, communication, and consumer electronic products such as smartphones, tablets, smartwatches, digital cameras, and computers, and rising adoption of online delivery.
Last Mile Delivery Market Regional Analysis:
- North America (United States, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
North America to Lead in Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period. This can be due to rapid advancements in last mile delivery systems, rising penetration of internet and smart devices, rapidly expanding e-commerce sector, and high demand for last mile delivery across food, e-commerce, retail, and pharmaceutical sectors. In addition, presence of robust key players and high focus on improving delivery services are expected to drive North America market growth during the forecast period.
Frequently Asked Questions:
- What is the market size of the global last mile delivery market during the forecast period?
- What was the market size of the global last mile delivery market in 2021?
- Which region is expected to dominate other regional markets throughout the forecast period?
- What are the key factors expected to drive global market growth during the forecast period?
- What are the key restraints expected to hamper overall market growth between 2022 and 2028?
- Which region is expected to register rapid revenue CAGR over the forecast period?
Reasons to Purchase This Report:
- Estimates 2020-2027 last mile delivery market dynamics, development and trends
- Detailed overview of the market including market size, share, growth opportunities, and challenges in the years to come
- Market segmentation analysis with qualitative and quantitative research incorporating impact of economic and political aspects
- Competitive landscape focusing on detailed information about every market player along with new projects and strategies adopted by them
- Comprehensive analysis of company profiles covering product offerings, recent developments, SWOT analysis, licence agreement and other strategies adopted by key players in the global last mile delivery market
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Browse more reports of interest:
Autonomous Last Mile Delivery Market: The autonomous last mile delivery market refers to the use of autonomous vehicles to deliver packages and goods from a transportation hub to a final destination, such as a customer's doorstep. This technology is gaining popularity as companies look for ways to streamline their delivery processes and reduce costs. The market is expected to grow rapidly in the coming years as more companies adopt autonomous last mile delivery solutions, and advancements in technology make these solutions more efficient and cost-effective. Read more: https://www.xcellentinsights.com/reports/autonomous-last-mile-delivery-market-447594
Last Mile Delivery by Drones Market: The last mile delivery by drones market involves the use of unmanned aerial vehicles (UAVs) to deliver goods directly to a customer's location. This technology is increasingly being adopted by companies looking to improve the speed and efficiency of their delivery operations, particularly in urban areas with high traffic congestion. The market is expected to grow rapidly in the coming years, driven by advancements in drone technology, improvements in battery life and range, and the increasing demand for faster and more convenient delivery options. Read More: https://www.xcellentinsights.com/reports/last-mile-delivery-by-drones-market-338393
Last Mile in E-commerce Delivery Market: The last mile in e-commerce delivery market refers to the final stage of the delivery process, where packages are transported from a local hub or warehouse to the customer's doorstep. This segment of the e-commerce industry has become increasingly important as more consumers shop online, and companies strive to provide fast and reliable delivery services. The market is highly competitive, with both traditional logistics companies and startups offering a range of last-mile delivery options, such as same-day or next-day delivery, real-time tracking, and flexible delivery windows. Read more: https://www.xcellentinsights.com/reports/last-mile-in-e-commerce-delivery-market-308821
First and Last Mile Delivery Market: The first and last mile delivery market refers to the transportation of goods from a distribution hub to the customer's doorstep, with a focus on the first and last stages of the delivery process. This market segment has become increasingly important in recent years, as e-commerce and urbanization have led to more complex and fragmented supply chains. The market includes a range of transportation modes, from traditional delivery vans and trucks to newer technologies such as drones, autonomous vehicles, and electric bikes. The market is expected to grow rapidly in the coming years, driven by technological advancements, increasing demand for fast and convenient delivery options, and a growing focus on sustainability and reducing carbon emissions. Read more: https://www.xcellentinsights.com/reports/first-and-last-mile-delivery-market-422649
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