Last Mile Delivery Market is Projected to Reach USD 75510 Million by 2028 | Valuates Reports

Due to the COVID-19 pandemic, the global Last Mile Delivery market size is estimated to be worth USD 42860 million in 2022 and is forecast to a readjusted size of USD 75510 million by 2028 with a CAGR of 9.9% during the review period.

Major factors driving the growth of the Last Mile delivery market size, integration of advanced technologies into existing systems, rise in the consumers' demand for just-in-time delivery, Increase in internet penetration, and expansion of the e-commerce industry.

The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition.

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TRENDS INFLUENCING THE LAST MILE DELIVERY MARKET

Logistics and e-commerce companies are dealing with ways to be more effective in shipping goods and keeping their costs as low as possible. As a result, several logistics companies are emphasizing the production of creative technologies to minimize costs and automate Last Mile distribution by using mobile robots, drones, and autonomous vehicle technology. This, in turn, is expected to drive the growth of the last mile delivery market size.

The rise in online orders has increased the demand for Last Mile delivery and has, in turn, contributed to the growth of many companies in this sector. A significant number of customers are willing to pay additional charges for quick delivery, which has led to a rise in Last Mile delivery market size.

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LAST MILE DELIVERY MARKET SHARE ANALYSIS

Based on the region, North America is expected to hold the largest Last Mile delivery market share. This dominance of North America is attributed to the continuous development in autonomous delivery robots and the increase in the preference of people to order online. A large amount of e-retail transactions and the growing number of consumers opting for quick and seamless delivery services are contributing to the growth of the last mile delivery market size in North America. In addition, several retailers have free returns and exchanges that fuel demand for reverse logistics in the last mile distribution model.

The Asia Pacific is projected to witness the highest growth during the forecast period. The region is home to major industries and car manufacturers. China and India are contributing to a rise in demand for Last Mile deliveries, as these countries have high exports and imports of products. In addition, the rise in digital purchasers through the internet has fueled the Last Mile delivery market size in the Asia-Pacific region.

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LAST MILE DELIVERY MARKET SEGMENTATION

Last Mile Delivery Market by Type, the Product can be split into
- B2C
- B2B

Last Mile Delivery Market by Application, the Product can be split into
- 3C Products
- Fresh Products
- Others

Last Mile Delivery Market by Regions/Countries, the Product can be split into
- North America
- Europe
- China
- Japan
- Southeast Asia
- India
- Central & South America

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SIMILAR REPORTS :

Autonomous Last Mile Delivery Market - https://reports.valuates.com/market-reports/ALLI-Manu-0J34/autonomous-last-mile-delivery

Global First and Last Mile Delivery Market - https://reports.valuates.com/market-reports/QYRE-Auto-7K1293/global-first-and-last-mile-delivery

Same Day Delivery Market - https://reports.valuates.com/market-reports/QYRE-Auto-18U764/global-same-day-delivery

Drone Logistics and Transportation Market -
https://reports.valuates.com/market-reports/QYRE-Auto-32R1184/global-drone-transportation-and-logistics

Global Digital Logistics Market Insights and Forecast to 2028 - https://reports.valuates.com/market-reports/QYRE-Auto-28C1583/global-digital-logistics

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