Last Mile Delivery Market accounted to US$ 1.99 Bn in 2018 and is expected to grow at a CAGR of 16.7% during the forecast period 2019 – 2027, to account to US$ 7.69 Bn by 2027.
The growing industrial sector such as automotive, manufacturing, retail, food & beverages industries is driving the growth of freight as well as logistics market in the North America region. The e-commerce industry has recorded robust growth, and it is possible because of the efficient and effective logistics and supply chain management.
Europe is the second largest market in the last mile delivery market. Apart from North America and Europe, Asia Pacific remains at the third largest geographic segment in the last mile delivery market. Moreover, the factors which strengthen the outlook of last mile deliveries are increased interest of customers in outsourcing a more extensive range of logistics services. Along with this, continual growth in internationalization is expected to deliver substantial growth opportunity to the industry players in Europe. Such initiatives would help the logistics service providers to introduce new solutions with advanced technologies in the last mile delivery market.
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Top Dominating Key Players:
- CEVA Logistics AG
- DB Schenker (Deutsche Bahn AG)
- DHL (Deutsche Post AG)
- DSV A/S
- FedEx Corporation
- Kuehne + Nagel International AG
- Nippon Express Co., Ltd.
- XPO Logistics, Inc.
- United Parcel Service, Inc.
The outlook of last-mile delivery is changing rapidly. Technology stands at the center stage and transforming itself to become more responsive, lean, and capable able to fulfill all customer expectations. Many trucking companies are developing their supply chain and delivery process by accepting innovations. Some of the technologically driven trends which help in reforming the last-mile delivery consist of a mobile warehouse, gig economy and crowdsourcing applications, on-demand drivers, and robotization in the supply chain management. This trend is anticipated to provide prosperous opportunities to the market to grow in the region; thus, positively impacting the last mile delivery market.
The global last mile delivery market by technology is segmented into drones, autonomous ground vehicles, droids, and others. Drones segment dominates the last mile delivery market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. As the scope of parcel delivery is widening, the use of drones is rising as they overcome the challenges caused due to cars. The drones are capable of fulfilling ample of needs as the drones are designed in such a way that evade delays and surface congestion while enabling customized delivery at affordable prices.
The global last mile delivery market by type is segmented into B2B and B2C. B2C segment dominates the last mile delivery market heavily and is expected to continue its dominance throughout the forecast period from 2019 – 2027. When it is about B2C, the last mile is different from B2B. Owing to the fact, the carriers who deliver to final mile face various challenges such as high level of unpredictability in respect to customer and transit availability.
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This post was originally published on Market Reports Observer