Jersey City, NJ, March 11, 2024 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Digital Last-Mile Platform Market- (By Component (Software / Platform and Services), By Deployment (Cloud and On-premise), By Application (Route Optimization, Tracking, Customer Communication, Analytics & Reporting,), By End User (Logistics, Retail & E-commerce, Healthcare, Food & Beverage)) Trends, Industry Competition Analysis, Revenue and Forecast To 2031."
According to the latest research by InsightAce Analytic, the Global Digital Last-Mile Platform Market is valued at US$ 7.08 Bn in 2023, and it is expected to reach US$ 19.87 Bn by 2031, with a CAGR of 13.9% during the forecast period of 2024-2031.
The digital last-mile platform market is undergoing tremendous expansion and transformation. With the introduction of e-commerce and online shopping, the demand for efficient and seamless last-mile delivery services has increased dramatically. Digital last-mile platforms have evolved as a solution for optimizing and streamlining the delivery process, resulting in timely and convenient consumer experiences. These platforms use advanced technology like GPS monitoring, real-time analytics, and route optimization algorithms to improve the efficiency of last-mile delivery. Customers can track their items in real-time, receive notifications, and submit input to enhance the delivery experience. The market is thoroughly competitive, with many firms seeking to provide novel features and excellent customer service. The market's primary players include traditional logistics organizations, e-commerce behemoths, and startups specializing in last-mile delivery solutions.
One of the primary drivers of this market is the growing adoption of smartphones and internet connectivity, which allows customers to access and engage with various digital platforms effortlessly. Furthermore, the increased emphasis on sustainability and environmental concerns has resulted in digital last-mile systems that optimize route planning, cut fuel usage and lower carbon emissions. However, the market faces hurdles. These include fierce rivalry, complicated logistics, and the necessity to protect data security and privacy. Overcoming these obstacles is critical to the Digital Last-Mile Platform Market's future growth and success.
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Recent Developments:
- In May 2023, Locus, a worldwide last-mile logistics technology firm, has announced significant updates to its order-to-delivery dispatch management platform for retail, 3PL, and CEP customers. Retailers and e-commerce enterprises can benefit from the new upgrade, which includes delivery connected checkout, cross-fleet usage, and dark shop optimization.
- In November 2022, Milkman S.P.A. has partnered with SAP SE to offer its Milkman Last Mile Platform through SAP Store, an online marketplace for SAP and partner offerings. Milkman would link the Milkman Last Mile Platform with SAP Transportation Management and SAP Commerce Cloud to provide real-time updates on delivery progress and reschedule options.
List of Prominent Players in the Digital Last-Mile Platform Market:
- Onfleet, Inc
- FarEye Technologies, Inc
- The Descartes Systems Group Inc
- Shipwell, Inc.
- Shipsy.io
- Onro, Inc.
- Scurri Ltd.
- Loginext
- Solutions Private Limited
- Zebra Technologies
- Corporation
- Click Labs Inc (Tooken)
- Bringg Delivery Technologies Ltd
- WorkWave LLC
- Other Prominent Players
Market Dynamics:
Drivers-
The exponential expansion of e-commerce and online shopping has led to a surge in the need for efficient and prompt last-mile delivery services. With the rising number of online shoppers, there is a growing need for digital platforms to enhance and facilitate the delivery process. Furthermore, the improved accessibility of smartphones and internet connectivity has facilitated the extensive implementation of digital last-mile solutions, simplifying the process for consumers to monitor their deliveries, offer immediate feedback, and enhance the overall customer experience. Moreover, the increasing emphasis on sustainability and environmental issues has led to the extensive utilization of digital last-mile platforms that enhance route planning, minimize fuel consumption, and decrease carbon emissions.
Challenges:
The market's increased competitiveness makes it difficult for digital last-mile platforms to differentiate themselves and give customers unique value propositions. With several platforms competing for optimized share, it is critical to provide innovative features and outstanding customer service in order to stay ahead. In addition, the complex logistics of last-mile delivery, such as traffic congestion, variable weather conditions, and urban density, might provide hurdles for digital platforms in ensuring timely and effective deliveries. Overcoming these logistical challenges necessitates modern technology solutions and intelligent collaboration with optimization companies.
Regional Trends:
North America held the largest last-mile delivery software market share in 2023 and is expected to grow at the fastest CAGR during the forecast period. Demand for same-day and same-day deliveries is a key growth driver in the region. The market development in this region is due to the advancement in focus on implementing cutting-edge software technologies such as big data, artificial intelligence, machine learning, and others. North America has emerged as the market's dominating player thanks to several critical variables contributing to its dominance in the shifting logistics landscape. E-commerce has grown significantly in the region, with more and more consumers preferring its ease and range of products. This boosted the demand for effective last-mile delivery services and increased the region's visibility and location. North America's robust technology infrastructure was critical to last-mile delivery growth.
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Segmentation of Digital Last-Mile Platform Market-
Digital Last-Mile Platform Market- By Component
- Software / Platform
- Services
Digital Last-Mile Platform Market- By Deployment
- Cloud
- On-premise
Digital Last-Mile Platform Market- By Application
- Route Optimization
- Tracking
- Customer Communication
- Analytics & Reporting
- Others
Digital Last-Mile Platform Market- Ву End-user
- Logistics
- Retail & E-commerce
- Healthcare
- Food & Beverage
- Others
Digital Last-Mile Platform Market- 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
- Southeast 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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