Pune, India. , Nov. 10, 2021 (GLOBE NEWSWIRE) -- The Global First and Last Mile Delivery Market Size reached USD 493.2 Million in 2021 and is expected to exhibit a CAGR of 13.8% over the forecast period 2021 to 2030, according to a recent global market study by Quince Market Insights. The first mile delivery begins after an order is placed. It involves the preparation of the product and finishes with the loading of the commodity into the final means of transportation that will deliver it to the end consumer. The last mile consists of delivering the customer's order, whether via in-store pickup (click and collect), at home, at the office, at a delivery location.
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There is difference between first mile and last-mile delivery. Most first-mile deliveries are small but hefty unit loads, making transportation and delivery much easier. The last mile is more difficult and time-consuming because it deals with smaller quantities and more particular products that customers will receive.
Industry 4.0 technologies is expected to have an impact on how products, customers, production, and service firms are connected. Supply chain solutions will become more efficient, adaptable, and customer focused as a result of digitization. The digital supply chain will be enabled by key technologies such as smart logistics and warehousing, as well as improved data analysis. The application of Industry 4.0 technologies is a major factor which is expected to drive the growth of the market. It will transform isolated supply chain solutions into interconnected logistics systems in complicated supply chain solutions, such as first mile or last mile logistics.
The growing complexity of these interlinked logistics networks necessitates the development of novel algorithms to handle the difficult optimization challenges that these large-scale networks face. Facility placement, routing, scheduling, design of loading unit building and packaging processes, budgeting, warehousing, and assignment or queuing are just a few of the issues that arise in the strategy and process of first and last mile supply chains.
One of the main causes of increasing delivery costs is poor management of last-mile delivery operations, which is a key factor that is restraining the growth of the market. The high expense of the final leg of transportation, poor operational visibility, incapability to track orders in real-time, high delivery costs, failure to deliver orders on time, poor customer experience, expediting order delivery process, out-of-date technology to manage delivery operations, and inadequate route planning are some of the other crucial challenges that retailers and e-commerce stores face with last mile logistics.
Impact of COVID-19 on Global First and Last Mile Delivery Market
The ongoing COVID-19 pandemic has thrown established logistics strategies into disarray and impacted last-mile delivery. The way parcels are picked up, delivered, and received has altered as a result of social distancing restrictions. Contactless delivery has become a standard expectation. It ensures that social distance compliance is maintained. Contactless deliveries may appear to be a simple operation in which an executive simply leaves an item outside a customer's door, but this is not the case.
Customers must be informed of delivery completion without having to open the door. To achieve zero-contact, cash and card payments must be eliminated. To maintain high levels of safety requirements, firms must also provide customers about the most recent body temperature of delivery employees and retail staff, as well as a timestamp. Hence, there is a growing demand for innovative first and last mile delivery strategies, which is projected to positively benefit the market in the long term.
First and Last Mile Delivery Market, By Goods Type
The goods type segment of the market is divided into dry goods, postal, liquid goods. The dry goods segment accounts for the highest market share. The market segment is predicted to rise due to an increase in demand for dry goods imports and exports as supply chains recover post pandemic. The companies are ordering truck bodies for last-mile delivery, with a significant rise in dry products.
First and Last Mile Delivery market, By Mode of Operation
The mode of operation segment is divided into light duty vehicle, medium duty vehicle, heavy duty vehicle, self-driving vans and trucks, delivery bots. The delivery bots segment is expected to grow at the highest CAGR during the forecast period. Last-mile logistics is difficult for logistics organizations since it is where massive, efficient shipments become individual logistical issues with specific handling requirements, fussy directions, and shaky customer coordination. Hence, companies are countering these challenges with innovation. For instance, Refraction AI, a startup launched in 2019 and maker of the REV-1, a low-cost, lightweight autonomous delivery robot, will utilize the USD 4.2 million raised to expand its customer base, expand geographically, and create new products.
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First and last mile delivery market, by Application
The application segment of the market is divided into logistics and transportation (package delivery, postal delivery), retail and food (e-commerce, grocery delivery, food delivery), healthcare & pharmacy (medicine supply, blood supply, organ transport, equipment transport, others), and others.
In the retail and food segment, the food delivery segment is expected to hold the highest market share. Businesses have already begun experimenting with self-driving vehicles in the delivery of food. Consumer behavior has been fundamentally impacted because of the convenience of having food, groceries, and anything else delivered to their doorsteps, which is contributing to the growth of the segment.
First and last mile delivery by Solution
The solution segment of the market is divided into hardware (ground control station, charging station, micro-fulfillment centers, others) and software (route planning and optimization, inventory management, live tracking, fleet management, computer vision, others).
Hardware segment accounts for the highest market size and the growth of the segment is due to the use of hardware units on vehicles. Last-mile delivery vehicles might benefit from the correct access hardware in terms of security and convenience.
Global First and Last Mile Delivery Market, based on Regional Analysis
The region segment includes major regions such as Asia Pacific, Middle East & Africa, North America, Europe, and South America.
Asia Pacific market is estimated to record the fastest growth in terms of CAGR during the forecast period. As Asia Pacific continues to gain worldwide interest as an integral part of global supply chains and trade flows, the region is ready to experience a logistical boom. As Asian consumers become more affluent, internet-savvy, and demanding, the retail sector has seen a significant boost and transformation in recent years. Within the last decade, the consumer retail business has been at the forefront of investment projects and interest, and the rewards of these investments are visible to all.
Recent Developments in the Global First and Last Mile Delivery Market
- September 2021 - Talabat is a prominent online food and e-commerce delivery platform. The company announced its partnership with Terminus Group to introduce 10 autonomous food delivery robots. These robots will provide sustainable last mile delivery at Expo 2020 Dubai.
- October 2021 - Sprinter raises USD 33 Million for ‘last-mile healthcare delivery’. The company is building a service for quick at-home health services. It includes lab draws and Covid-19 testing.
- May 16, 2021 - To revolutionize the vaccine delivery and emergency medical supplies to the remote parts of India with drones, logistics giant Blue Dart has formed Blue Dart Med-Express Consortium with World Economic Forum, the Telangana government, Niti Aayog, and Healthnet Global.
- April 2021 - Retail-tech startup Arzooo unveiled an in-house logistics service. This service will carry out the first-mile service to last-mile delivery of goods for its partner stores in India.
- January 2021 - General Motors is turning its interest to logistics businesses and parcel delivery. It launched a new business BrightDrop that will provide services, software, electric products for the first to last mile.
- March 2021, Cabify entered logistics with Last-Mile Delivery. Cabify is expanding its logistics services with the e-commerce boom to connect retailers’ stores and warehouses with customers for last-mile delivery.
- September 2020 - Rapidus, launched an AI-powered service to improve logistics of one-hour and same-day local delivery. It can predict the future time and location of new deliveries.
- November 2020 - GMR Hyderabad Air Cargo (GHAC) and Telangana State Road Transport Corporation (TSRTC) signed a Memorandum of Understanding (MoU) to mutually promote international import and export cargo through the introduction of the first mile and last mile Cargo Bus Feeder Service (BFS) that would link Telangana and neighboring states.
Some key Points of the First and Last Mile Delivery Market Report are:
- An in-depth global first and last mile delivery market analysis by the segments, along with an analysis of trend-based insights and factors.
- Major companies operating in the global first and last mile delivery market, which include Cargo Carriers (Pty) Limited (South Africa), FedEx (the United States), United Parcel Service of America, Inc. (Georgia, the United States), Tuma Transport AS (Norway), Swift Transportation Company (the United States), Interlogix Pty. Ltd. (South Africa), Transtech Shipping And Logistics Pvt. Ltd (India), Procet Freight (South Africa), Concargo Private Limited (Mumbai), DB SCHENKER (Germany), DHL Global Forwarding (Germany), Kerry Logistics Network Limited (Hong Kong), TNT Holdings B.V. (Australia).
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global First and Last Mile Delivery market
- Impact of COVID-19 on the global First and Last Mile Delivery market
Find more insights on this topic from this report, “First and Last Mile Delivery Market, by goods type (dry goods, postal, liquid goods), by mode of operation (light duty vehicle, medium duty vehicle, heavy duty vehicle, self-driving vans and trucks, delivery bots), by application (logistics and transportation {package delivery, postal delivery}, retail and food {e-commerce, grocery delivery, food delivery}, healthcare & pharmacy {medicine supply, blood supply, organ transport, equipment transport, others}, others), by solution (hardware {ground control station, charging station, micro-fulfillment centers, others} and software {route planning and optimization, inventory management, live tracking, fleet management, computer vision, others}), by region (Asia Pacific, Middle East & Africa, North America, Europe, and South America)” - Global Market Size & Forecasting to 2030” in-depth analysis along with the table of contents (ToC).
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