LONDON–(BUSINESS WIRE)–The last mile delivery market in North America size is poised to grow by USD 44.88 billion during 2020-2024, progressing at a CAGR of over 14% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The e-retailing market in North America has recorded significant growth over the past few years. This is contributing to the growth of the last mile delivery market in the region. Major logistics providers such as XPO Logistics, UPS, and FedEx are offering last mile delivery services to small and large enterprises. Most of these vendors account for a dominant share of the business-to-customer (B2C) delivery market. The growing number of online stores has created significant business opportunities, attracting start-ups into the market. Many of these start-ups are focusing on gaining a competitive edge by innovating services to cater to the rising demand for fast and efficient last mile delivery services. These factors will contribute to the last mile delivery market growth in North America over the forecast period.
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Report Highlights:
- The major last mile delivery market growth in North America came from B2C service segment. The growing e-retailing sector in North America has significantly created the demand for B2C last mile delivery services. The demand is more prominent because of the customers’ expectation of receiving online-ordered products within a day. Also, such customers are willing to pay additional cost for last mile delivery services. These factors are contributing to last mile delivery market growth.
- The US was the largest market for last mile delivery services in North America in 2019. The large volume of e-retail purchases and the rising number of customers opting for fast and seamless delivery services are contributing to last mile delivery market growth in North America. Moreover, many retailers are providing free returns and exchanges that are driving the demand for reverse logistics in the last mile delivery model.
- The last mile delivery market in North America is moderately fragmented. CEVA Logistics AG, Deutsche Bahn AG, Deutsche Post DHL Group, DSV AS, FedEx Corp., GEODIS SA, North American Logistics Holdings, United Parcel Service Inc., United States Postal Service, and XPO Logistics Inc. are some of the major market participants. To help clients improve their market position, this last mile delivery market in North America forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the last mile delivery market in North America 2020-2024 is expected to have Negative and Inferior growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
Read the full report here: https://www.technavio.com/report/report/last-mile-delivery-market-in-north-america-industry-analysis
Strong Focus on Technological Advances will be a Key Market Trend
The strong focus on technological advances is one of the significant last mile delivery market trends in North America. Vendors are adopting big data analytics and AI to optimize operations. Technological advances, such as real-time tracking allow consumers to manage and modify retail deliveries. Vendors are also offering last mile delivery management applications to customers to manage delivery schedules for large or heavy packages. Other technologies that have already witnessed wide-scale implementation in last mile logistics include online delivery status updates, real-time order tracking, and delivery time estimations. The above factors will increase the demand for advanced last mile delivery services, increasing revenue generation for vendors.
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Last Mile Delivery Market in North America 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist last mile delivery market growth in North America during the next five years
- Estimation of the last mile delivery market size in North America and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the last mile delivery market in North America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of last mile delivery market vendors in North America
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Preface
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY SERVICE
- Business to consumer (B2C)
- Business to business (B2B)
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- US – Market size and forecast 2019-2024
- Canada – Market size and forecast 2019-2024
- Market opportunity
PART 09: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 10: MARKET TRENDS
- Growing focus of vendors on expanding their market presence in North America
- Strong focus on technological advances
- Strong focus on offering services to specific end-user segments
PART 11: VENDOR LANDSCAPE
- Overview
- Landscape disruption
- Competitive scenario
PART 12: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- CEVA Logistics AG
- Deutsche Bahn AG
- Deutsche Post DHL Group
- DSV AS
- FedEx Corp.
- GEODIS SA
- North American Logistics Holdings
- United Parcel Service, Inc.
- United States Postal Service
- XPO Logistics Inc.
PART 13: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 14: EXPLORE TECHNAVIO
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