Product ID: SQMIG20Y2005
Global Last Mile Delivery Market Size, Share, Growth Analysis, By Type(B2B (Business-To-Business), B2C (Business-To-Consumer)), By Technology(Drones, Autonomous Ground Vehicles), By Delivery Time(Regular Delivery, Same-Day Delivery), By Application(FMCG, E-commerce) - Industry Forecast 2024-2031
Report ID:
SQMIG20Y2005 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
120 |
Figures:
77
Global Last Mile Delivery Market Insights
Last Mile Delivery Market size was valued at USD 131.5 billion in 2019 and is poised to grow from USD 142.1 billion in 2023 to USD 288.9 billion by 2031, growing at a CAGR of 8.13% in the forecast period (2024-2031).
Customers' demands for last-mile deliveries are changing as they become more sophisticated. Additionally, if same-day or fast delivery is offered at a reasonable price, many customers choose these services. Excellence in these deliveries has become essential due to the increasing demand for last mile delivery and fulfilment of similar commercial and residential products within a given timeframe. Thankfully, shippers, logistics companies, and technology companies plan ahead to quickly satisfy all customer expectations by embracing cutting-edge technologies created for last-mile deliveries. This component is expected to have an influence on the market.
Furthermore, the last mile delivery sector is growing due to innovations and investments made by major market players. For instance, Amazon unveiled Scout, a delivery robot that can roll along sidewalks and leave packages at customers' door - step. In terms of size, Scout resembles a tiny cooler. This inspired Amazon to create a fresh idea for an autonomous last-mile delivery service. The market outlook for automotive last mile delivery is expected to see a number of improvements made by top companies, that will drive market growth.
The development of the e-commerce industry, an increase in trading activities spurred on by globalization, technology advances in delivery vehicles, and a rise in the need for fast package delivery all have contributed to the growth of the market. The market growth is expected to be hampered by subpar infrastructure, higher logistics costs, a lack of manufacturer and retailer control over logistics services, and an unreliable postal address system.
Additionally, the adoption of autonomous delivery to spur growth, cut costs, and truncate lead - time 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 possibilities for the last mile delivery market to expand and grow.
US Last Mile Delivery Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Last Mile Delivery Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
