The Global Last Mile Delivery Market was valued US$ 18.7 Bn in 2020 and is expected to reach US$ 62.7 Bn by 2027, with a growing CAGR of 18.9% during the forecast period (2021-2027)
Last mile delivery is the last step of delivering of goods and services, when parcel is moved from transportation hub and en-routed for final destination at retail store or personal residence of customer. This is one of the most important step of delivery process businesses wants to be quick and efficient in delivering service in every possible way. This is mostly used in food, e-commerce, retail or pharmaceutical industries. Every delivery company aims to provide the best service in less time. Last mile delivery has gained more popularity during covid-19 pandemic times due to growing demand for contactless and home-based delivery service.
Technological advancements and adoption of diversification are the influencing factors of the global last mile delivery market. On the contrary, cost fluctuations is hampering the market. Canada is considered to be the key market for last mile delivery due to expanded e-commerce market present in this region. Further, development in use of electric vehicle because of their high speed, efficiency and eco-friendly features are accounting a tremendous growth in the last mile delivery market across the globe.
By Vehicle Type
By Cargo Type
By End User
By Geographical Region
Based on vehicle type, light duty vehicle accounted major share in terms of revenue of last mile delivery market owing good load capacity and stable
Based on type of vehicle, last mile delivery market is segmented into light duty vehicle, medium duty vehicle and heavy-duty vehicle. Light duty vehicle is expected to hold maximum share in the last mile delivery market as it offers certain advantages over medium and heavy vehicle. Light vehicles are easy to transport, more stable along with good load capacity and fully powered electricity. Moreover, it offers huge speed to the delivery with advantage of having environmentally safe. However, medium and large duty vehicles stood to be the second largest last mile delivery market growth.
Based on cargo type, dry good is expected to have lucrative market growth during forecast period due to less product contamination, easy to transport and store
Based on cargo type, last mile delivery is segmented into dry goods, liquid goods and postal goods. Due to increase in volume of import and export of materials of industry and manufacturing from outside the country or within the country dry goods segment is projected to witness significant growth over the forecast period.
Based on end user type, e-commerce segment accounted the highest market share in year 2020 due to increasing online service platforms
Based on end user type, last mile delivery market is segmented into Pharmaceuticals & healthcare, chemicals FMCG products and E-Commerce. E-commerce is expected to grow at highest CAGR during forecast period. E-commerce helps to enhance customer experience with better last mile delivery experience. Further, this segment helps to reduce cost and provide efficient delivery of services for their customers. Moreover, FMCG is the second largest segment expected to witness the fastest growth during forecast period.
Based on geographical region type, North America region is expected to dominate last mile delivery market due to advances in transportation facility and rising demand of customer for faster delivery
Based on region, last mile delivery is widespread into North America, Asia- Pacific, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia- Pacific region is expected to account the highest growth in last mile delivery market. This is due to increase in technology, advances in delivery systems, rising online shopping rate and awareness regarding e-commerce sector. On the contrary, North America holds the largest share in the last mile delivery service due to presence of high-tech transportation infrastructure and high demand for fast delivery services.
The report also provides in-depth analysis of last mile delivery dynamics such as drivers, restraints, and opportunities
Drivers
Restraints
Opportunities
Covid-19 has highly affected the industries in terms of growth, economy, health and mental wellbeing of every individual. In this challenging situation, every industry is strategizing unique plans to provide the best services in terms of quality and safety. During these pandemic times, when there are restrictions on movement and lockdown condition, last mile delivery market has flourished due to increase in demand for products and services. The increased in adoption of last mile delivery options such as curb side pickups, delivery of subscriptions and supply of parcel were introduced which supported the last mile delivery services across the world.
During covid-19 pandemic, there have been increase in inclination towards adoption of e-commerce across the world. Companies are innovating and updating the delivery services within time or less time to enhance customer services. New innovative techniques have enabled players in last mile delivery industry to come up with more efficient delivery to increase their business during or post covid-19 pandemic
The report also provides in-depth analysis of recent news developments and investments
The key players operating in the market are:
The unique insights provided by this report also includes the following:
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Intorduction
Regulatory Landscape for Last Mile Delivery
Last Mile Delivery Market by Vehicle
Last Mile Delivery Market by Cargo
Last Mile Delivery Market by End User
Regional Analysis
Key Strategic Insights
Market Analysis
Key Market Trends / Recent Developments
Competitive Scenario
Key Global Players
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