The global Last mile delivery market size was valued at USD 18.7 Bn in 2020, and it is expected to reach USD 62.7 Bn by 2027, with a CAGR of 18.9%, during the forecast period-2021-2027.
Last mile delivery is also known as last mile logistic which includes transportation of goods and services from distribution hub to the final doorstep of customer. The primary aim of Last Mile Delivery is to deliver goods and services within time at affordable rate and in proper condition. The business of last mile delivery is refined and is expected to reach heights in coming years. Many retailers and shoppers are now focussing on last mile logistics, which would make them stand different in the market. Amazon prime has transformed into online retail distribution wherein, the goods and services are delivered in time frame and in proper condition. In case of rural area, delivery points are at distance and rate of parcels is also low, here, the last mile delivery market is impacted.
The cost and inefficiencies of last mile delivery market has further been affected by continuous rise in the e-commerce in U.S. retail sales, which ultimately increase the number of parcels, and this led to increase in customer expectations for fast and free delivery service.
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Based on end user, e-commerce segment accounted the highest market share in 2020 and is expected to expand during forecast period. E-commerce services have been widely accepted throughout globe and considered to be emerging mode of shopping.
Geographically, Asia-Pacific is expected to show the highest growth during forecast period. Asia- Pacific is considered one of the emerging and developing in the last mile delivery market due to presence of required infrastructure.
Global Last Mile Delivery Market by Region Outlook (Revenue, USD Million, 2021-2027)
• North America
• Asia Pacific
• Rest of the World
Based on region, Asia-Pacific region accounted the highest market share in 2020 and expected to show expansion during forecast period. This is due to increase in demand of customer for highspeed and on-time service delivery, increase in transportation facilities and rising online shopping drives the growth of last mile delivery market in this region.
Moreover, North America hold second position in the growth of last mile delivery market due to increase in last mile delivery services, growing transportation infrastructure, thus, these are considerably the factors that boost the growth of last mile delivery market in North America.
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The key players operating in the market are:
• Cargo Carriers Limited
• FedEx Corporation
• United Parcel Service Inc.
• Tuma Transport
• Swift Transport
• Interlogix Pty. Ltd.
• Transtech Logistics
• Procet Freight
• Concargo Private Limited
• J&J Global Limited
• DB Schenker
• DHL Global Forwarding
• TNT Express
• Kerry Logistics Network Limited
The Global Last Mile Delivery Market Segmentation:
Global Last Mile Delivery Market by Vehicle Outlook (Revenue, USD Million, 2021-2027)
• Light Duty Vehicle
• Medium Duty Vehicle
• Heavy Duty Vehicle
Global Last Mile Delivery Market by Cargo Outlook (Revenue, USD Million, 2021-2027)
• Dry Goods
• Postal Goods
• Liquid Goods
Global Last Mile Delivery Market by End User Outlook (Revenue, USD Million, 2021-2027)
• Pharmaceutical and Healthcare
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• Based on vehicle, light duty vehicle accounted major share in terms of revenue of last mile delivery market and is expected to grow more during forecast period
• Based on cargo, dry good is expected to have lucrative market growth during forecast period
• Based on end user, e-commerce segment accounted the highest market share in year 2020 and is expected to grow at highest CAGR over forecast period
• Geographically, Asia-Pacific expected to show highest growth in last mile delivery market during forecast period
• In February 2021, NextBillion AI launched Hyperlocal Mapping solution for API industry to track deliveries, last-mile logistics and telematics by providing custom geocodes and search functionality.
• In January 2021, Mahindra Logistics Ltd. Launched a new service line called EDel, an electric vehicle which would be used for cargo applications and fulfilment for customers' needs in e-commerce, FMCG and other markets.