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The Global Last Mile Delivery Market Size is valued at 164.74 billion in 2023 and is predicted to reach 357.45 billion by the year 2031 at a 10.37% CAGR during the forecast period for 2024-2031.
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Last mile delivery, sometimes referred to as Last mile logistics, is the portion of a journey where items are moved from a transportation hub or warehouse to the ultimate delivery location. Last mile delivery aims to deliver goods to clients as rapidly as feasible while keeping costs to a minimum. More than half of the shipping expenses are incurred during Last mile delivery. It is mostly used in the food, e-commerce, retail, or pharmaceutical industries.
The Last mile delivery market growth is expanding as a result of factors such as the rise of the e-commerce industry, an increase in trade activities brought on by globalization, technical developments in delivery vehicles, and an increase in demand for quick package delivery. However, it is anticipated that weak infrastructure, increased logistics costs, a lack of manufacturer and retailer control over logistics services, and an unreliable postal address system will restrain the market's expansion.
Additionally, the adoption of autonomous delivery to boost demand, cut costs, and shorten lead times as a result of the multi-modal system adoption and expansion of the e-commerce sector, combined with an increase in B2C deliveries, is anticipated to open up a wide range of opportunities for the Last mile delivery market to grow and expand.
Competitive Landscape:
Some major key players in the Last Mile Delivery Market are:
- A1 Express Services Inc
- 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
- F. Express
- United Parcel Service, Inc. (UPS)
- USA Couriers
- XPO Logistics, Inc.
- YTO Express Group Co
Market Segmentation:
The Last mile delivery market is segmented on the delivery mode, application, destination, service type, vehicle type and mode of operation. Based on delivery mode, the market is segmented into regular, same-day, or express delivery. Based on application, the market is further categorized into e-commerce, retail and FMCG, healthcare, mails and packages and others. Based on the destination, Last mile delivery market is segmented into comestic and international. Based on service type, the market is categorized into business-to-business (B2B), business-to-consumer (B2C) and customer-to-customer (C2C). Based on vehicle type, the market is categorized into the motorcycle, LCV, HCV and drones. Based on the mode of operation, the market is segmented into non-autonomous and autonomous.
Based On Service Type, The Business-To-Consumer (B2C) Segment Is Accounted As A Major Contributor To The Last Mile Delivery Market
The business-to-consumer (B2C) category grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. This may be a result of shifting customer buying patterns, an increase in organized omnichannel retailing, and growing technological proficiency regarding mobile apps and internet platforms. Additionally, due to the continued development of emerging economies, the rise of the global middle class, and the expansion of internet access, logistic companies will be required to ship goods to end users in these nations' remote regions due to the increased demand for e-commerce.
The E-Commerce Segment Witnessed Growth At A Rapid Rate
The e-commerce category is anticipated to grow significantly over the forecast period. This can be ascribed to a growing client base, shifting consumer purchasing habits, expectations for quick and free shipment, competitive pricing, and demographic changes. As a result, businesses are focusing on developing solutions to deal with traditional logistics' demanding delivery schedule issues.
North America Last Mile Delivery Market Holds A Significant Revenue Share In The Region
North America Last mile delivery market position is expected to record the highest market share in revenue in the near future. This can be attributed to the high rate of innovation adoption in the area and the expected increase in the efficiency of Last mile delivery. The region includes developed countries like the U.S. and Canada, which are crucial markets for e-commerce and Last mile logistics. In addition, the Asia Pacific is projected to grow rapidly in the global Last mile delivery market. This can be attributed to the expanding demand for customized workflow, automation, and the simplification of intricate operational processes, all of which have significantly impacted how businesses now conduct their business. One service that is in high demand across the country is Last mile delivery, which is offered by a large number of companies.
Recent Developments:
- In June 2023, Amazon unveiled its strategy to incorporate small businesses into its efforts to improve last-mile delivery operations. This initiative, extending across 23 states in the U.S., will engage a variety of small businesses, including clothing stores, florists, and local convenience stores. Amazon estimates that participating small businesses could potentially earn up to USD 27,000 per year by taking on delivery responsibilities.
Last Mile Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 164.74 Bn |
|
Revenue forecast in 2031 |
USD 357.45 Bn |
|
Growth rate CAGR |
CAGR of 10.37% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
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 |
|
Competitive Landscape |
A1 Express Services Inc., Amazon.com, Aramex, BEST Inc, DPD, Drone Delivery Canada, Dropoff, Inc., DSV (DSV PANALPINA), FedEx, Flirtey, Flytrex, Geodis, Jet Delivery, Inc., DB Schenker, Deutsche Post AG (DHL GROUP), Kerry Logistics Network Limited, Marble Robot, Matternet, Power Link Expedite, Savioke, SF Express, United Parcel Service, Inc. (UPS), USA Couriers, XPO Logistics, Inc., and YTO Express Group Co. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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