Last Mile Delivery Market Will Expand at CAGR of 18.9% by 2027

Last Mile Delivery Market by Vehicle (Light Duty Vehicle, Medium Duty Vehicle, Heavy Duty Vehicle), by Cargo (Dry Goods, Postal, Liquid Goods), by End User (Chemical, Pharmaceutical and Healthcare, FMCG, E-Commerce) by Region (North America, Europe, Asia-pacific, Rest of the World): Global Forecasts 2021 To 2027.

The global Last Mile Delivery Market 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.

The cost and inefficiencies of last mile delivery market has further been affected by continuous rise in the e-commerce in U.S.

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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 focusing 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.

Global Last Mile Delivery Market Report Overview:
The report overview includes studying the market scope, leading players like Cargo Carriers Limited, FedEx Corporation, United Parcel Service Inc., Tuma Transport, Swift Transport, Interlogix Pty. Ltd., etc., market segments and sub-segments, market analysis by type, application, geography. The report covers Leading Countries and analyzes the potential of the global Last Mile Delivery industry, providing statistical information about market dynamics, growth factors, major challenges, and market entry strategy Analysis, opportunities, and forecasts. The biggest highlight of the report is to provide companies in the industry with a strategic analysis of the impact of COVID-19.

COVID-19 Impact Analysis on Last Mile Delivery Market:
Coronavirus has exceptionally influenced the enterprises as far as development, economy, wellbeing, and mental prosperity of each person. In this difficult circumstance, each industry is planning interesting designs to offer the best types of assistance as far as quality and security. During these pandemic occasions, when there are limitations on development and lockdown condition, last mile delivery market has prospered because of expansion sought after for items and administrations. The expanded in reception of last mile conveyance choices, for example, check side pickups, conveyance of memberships and supply of package were presented which upheld the last mile conveyance administrations across the world.
During Coronavirus pandemic, there have been expansion in tendency towards reception of internet business across the world. Organizations are advancing and refreshing the conveyance administrations inside time or less an ideal opportunity to upgrade client administrations. New creative strategies have empowered players in last mile conveyance industry to think of more proficient conveyance to build their business during or post Coronavirus pandemic.

The Major Companies Covered in Last Mile Delivery Market Report 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
• KART

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The Global Last Mile Delivery Market Segmentation:

By Vehicle Outlook (Revenue, USD Million, 2021-2027)
• Light Duty Vehicle
• Medium Duty Vehicle
• Heavy Duty Vehicle

By Cargo Outlook (Revenue, USD Million, 2021-2027)
• Dry Goods
• Postal Goods
• Liquid Goods

By End User Outlook (Revenue, USD Million, 2021-2027)
• Chemical
• Pharmaceutical and Healthcare
• FMCG
• E-Commerce

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Regional Analysis:
• North America
• Europe
• Asia Pacific
• Rest of the World

North America 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.

Key Findings:
• Geographically, Asia-Pacific expected to show highest growth in last mile delivery market during forecast period
• 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
The report also provides in-depth analysis of recent news developments and investments
• In June 2021, REEF partnered with University of Washington’s Urban Freight Lab (UFL) and launched Seattle Micro hub with Zero operating Emission for last mile delivery service. This provides innovative and quick ways to test vehicle, delivery models, and technologies and proved to be eco-friendly service.

Reasons for Buying this Report:
• This Last Mile Delivery Market report provides pin-point analysis for changing competitive dynamics
• It provides a forward-looking perspective on different factors driving or restraining market growth
• It provides a six-year forecast assessed based on how the market is predicted to grow
• It helps in understanding the key product segments and their future
• It provides pinpoint analysis of changing competition dynamics and keeps you ahead of competitors

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