Westford, USA, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Global Last Mile Delivery Market size was valued at USD 132.62 Billion in 2022 and is poised to grow from USD 144 Billion in 2023 to USD 276.36 Billion by 2031, at a CAGR of 8.5% during the forecast period (2024-2031).
SkyQuest projects that the last mile delivery market will attain a value of USD 276.36 billion by 2031, with a CAGR of 8.5% over the forecast period (2024-2031). Rapidly evolving consumer preferences and a boom in e-commerce activity are primarily shaping the last mile delivery market growth. High demand for food & beverage delivery, rising popularity of same-day delivery, and use of drones to accomplish last mile deliveries are key trends that could help last mile delivery companies in the future.
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Browse in-depth TOC on "Last Mile Delivery Market"
- Pages - 157
- Tables - 120
- Figures – 77
Last Mile Delivery Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 144 Billion |
| Estimated Value by 2031 | $ 276.36 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Technology, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | High demand for same-day deliveries |
| Key Market Drivers | Growing e-commerce and online shopping activities |
Business to Consumer (B2C) Spearheads the Demand for Last Mile Delivery Solutions
The rapid boom in the e-commerce industry in recent years is the prime factor helping the B2C segment account for a massive share of the global last mile delivery market. The increasing preference of consumers to shop online from the comfort of their homes is also expected to help this segment bolster last mile delivery demand in the future. The availability of contactless delivery services will also help the dominance of this segment.
Food & Beverages Industry Projected to Witness Robust Hike in Demand for Last Mile Delivery Services
Rising demand for convenience and evolving consumer preferences have made the food & beverage delivery market quite attractive. Busy lifestyles of people around the world are making them more inclined to order food & beverages instead of making them from scratch at home. Moreover, the rising availability of food & beverage delivery applications and services will also bolster the demand for last-mile delivery in this segment.
Rapidly Increasing E-Commerce Expenditure Helps Asia-Pacific Dominate Global Last Mile Delivery Demand
Consumer preferences in the Asia-Pacific region are witnessing a major change owing to rising disposable income and exposure to western culture. Spending on e-commerce has increased rapidly in this region and so has the demand for last mile delivery services. India, China, and Japan are projected to be the most rewarding markets in this region for last mile delivery providers.
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Last Mile Delivery Market Insights:
Drivers
- Evolving consumer preferences
- Growth in e-commerce and online shopping activity
- Rising availability of door-to-door delivery options
Restraints
- Lack of transparency
- Unethical buyer or seller practices
Prominent Players in Last Mile Delivery Market
The following are the Top Last Mile Delivery Companies
- Amazon Logistics (US)
- DHL Express (Germany)
- FedEx (US)
- UPS (US)
- United States Postal Service (USPS) (US)
- China Post (China)
- JD Logistics (China)
- Alibaba Cainiao (China)
- XPO Logistics (US)
- DPD Group (France)
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Key Questions Answered in Last Mile Delivery Market Report
- What drives the global last mile delivery market growth?
- Who are the leading last mile delivery providers in the world?
- Which region leads the demand for last mile delivery in the world?
This report provides the following insights:
- Analysis of key drivers (changing consumer preferences, boom in e-commerce activity, high availability of door-to-door delivery services), restraints (unethical buyer or seller practices, lack of transparency), and opportunities (same-day delivery services, use of delivery drones), influencing the growth of Last Mile Delivery market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Last Mile Delivery market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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About Us:
SkyQuest Technology is a leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 617-230-0741
Email: sales@skyquestt.com
