Jersey City, NJ, March 24, 2023 (GLOBE NEWSWIRE) -- The Global Last Mile Delivery Market is estimated to reach over USD 357.45 billion by 2031, exhibiting a CAGR of 10.17% during the forecast period 2023-2031.
A method or service that delivers goods more quickly, easily, and smoothly to the customer is known as last mile delivery. Various businesses or sectors offer the last mile delivery service, whereby they send the product directly from the company outlet or the distribution centre to the customer's location in a predetermined amount of time. The demand for parcel delivery has grown due to the astounding expansion in internet and e-commerce sales in developing nations. This factor might spur the market for last mile deliveries to expand.
In addition, the omnichannel supply chains are improving the logistics and transportation industries' business, which might help the last mile delivery market development. Repeat purchases have increased due to the growing popularity of subscription-based services. These elements could ultimately spur the market for last mile deliveries to flourish. Same-day delivery is one of the main market drivers that have caught consumers' attention, and this factor is probably going to help the last mile delivery sector expand.
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Recent Developments:
• In March 2022, a Pilot Program by Arcimoto and Directed Technologies was launched to Bring Ultra-Efficient Electric Delivery Vehicles to Australia. A rightsized electric vehicle from Arcimoto and class-leading digital fleet management systems from Directed will work together to optimize last mile delivery choices for the clients while smoothly integrating into their sustainability and technology goals.
• In May 2020, Ryder System Inc. expanded its eCommerce fulfillment network to better serve its customers by adding two new facilities and food-grade capabilities.
List of Prominent Players in The Last Mile Delivery Market:
- A1 Express Services Inc
- Amazon.com
- Aramex
- BEST Inc
- DB Schenker
- Deutsche Post AG (DHL GROUP)
- DPD
- Drone Delivery Canada
- Dropoff, Inc.
- DSV (DSV PANALPINA)
- FedEx
- Flirtey
- Flytrex
- Geodis
- Jet Delivery, Inc.
- Kerry Logistics Network Limited
- Marble Robot
- Matternet
- Power Link Expedite
- Savioke
- S.F. Express
- United Parcel Service, Inc. (UPS)
- USA Couriers
- XPO Logistics, Inc.
- YTO Express Group Co
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Last Mile Market Report Scope:
| Report Attribute | Specifications |
| Market size value in 2022 | USD 151.87 Bn |
| Revenue forecast in 2031 | USD 357.45 Bn |
| Growth rate CAGR | CAGR of 10.17% from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Delivery Mode, Application, Destination, Service Type, Vehicle Type And Mode Of Operation |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers-
The main forces behind globalization are shifting economic conditions and dynamic market conditions. Various trade-related activities have been seen to increase recently as a result of the development of globalization. Expanding the global market is another important driver of the industry's growth. In the upcoming years, trade activity between cities and surrounding nations is projected to promote market expansion for last mile delivery. Globalization is predicted to fuel the expansion of the last mile delivery business by increasing trade activity and raising concerns about efficient transportation.
Challenges:
Supply chains, trade facilitation, and good infrastructure are essential for logistics. Without them, businesses are forced to accumulate larger stock reserves and working capital, which can significantly impact regional and national competitiveness due to high financial expenses.
The logistics market is also hampered by a lack of infrastructure, which drives up costs and undermines the dependability of the supply chain due to significant inefficiencies in transportation, shoddy storage facilities, a complicated tax system, slow adoption of new technology, and inadequate logistical professional skills.
Regional Trends:
North America last mile delivery market position is expected to register a major market share in revenue and is projected to grow at a high CAGR shortly. This is explained by the region's high adoption rate of cutting-edge technologies and the rising efficiency level anticipated by last mile deliveries. The region comprises developed nations like the U.S. and Canada, which are important markets for e-commerce and last mile logistics.
Besides, the Asia Pacific region had a considerable share of the market. This is attributable to the growing need for customized workflow, automation, and simplifying complex operational processes, which have greatly influenced how firms conduct their operations. Additionally, numerous businesses provide last mile delivery services, one of the services in great demand in the nation.
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Segmentation Of Last Mile Delivery Market-
By Delivery Mode
- Regular Delivery
- Same-Day Delivery or Express Delivery
By Application
- E Commerce
- Retail and FMCG
- Healthcare
- Mails and Packages
- Others
By Destination
- Domestic
- International
By Service Type
- Business-To-Business (B2B)
- Business-To-Consumer (B2C)
- Customer-To-Customer (C2C)
By Vehicle Type
- Motorcycle
- LCV
- HCV
- Drones
By Mode of Operation
- Non-Autonomous
- Autonomous
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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