Last Mile Delivery Market is expected to reach US$ 7.69 Bn by 2027

Last Mile Delivery market report by "The Insight Partners" sheds light on the key drivers and opportunities attributing to market expansion over the analysis period. It also gives in-depth information pertaining to the challenges and threats poised to hinder revenue generation in the forthcoming years. Additionally, the report also provides crucial information regarding leading companies in this business sphere and the trends that are likely to prevail in the near future.

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Leading Last Mile Delivery market Players: CEVA Logistics AG, DB Schenker (Deutsche Bahn AG), DHL (Deutsche Post AG), DSV A/S, FedEex Corporation, GEODIS, KUEHNE + NAGEL International AG, Nippon Express Co., Ltd., XPO Logistics, Inc., United Parcel Service, Inc.

The 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.

Geographically, the last mile delivery market is segmented into North America, APAC, Europe, Middle-East and Africa, and South America regions. North America leads the last mile delivery marketin 2018 with a significant market share and is anticipated to continue its dominance in the coming years. 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.

In recent years, last mile delivery market has observed different product launch, partnership, as well as inauguration of new facilities which would help the players to grow in the market. For instance, in 2019, FedEx Express has opened a new state-of-the-art ramp operation facility at Luis Muñoz Marin International Airport (SJU) in Carolina, Puerto Rico. The new facility is part of the company's strategy to increase its operational efficiency and meet its growing customer demands. Another initiative with respect to new product launch is undertaken by FedEx Corporation. In this, in 2019, FedEx has developed an autonomous battery-powered delivery robot to enable same-day last-mile deliveries. The FedEx SameDay Bot travels along roadsides and on sidewalks to deliver all the small shipments to its end users.

The drones are majorly used by e-commerce companies and several governments and private organizations to deliver time-sensitive goods, medicines, and emergency response goods. Disaster recovery, medical supplies, and other applications witness significant growth potential. Drone delivery is the ultimate solution for last-mile connectivity in rural areas. The drones in the current scenario are progressing substantially, as the governments of several countries are simplifying the laws and regulations, which is raising the number of drone operating companies. Such approvals and initiatives would help the companies to widen the scope of the last mile delivery market.

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Market Insights
Continuous growth in the demand on-time delivery by the consumers
Customers are becoming sophisticated related to what they expect or demand from last-mile deliveries. In addition to this, many customers opt for instant or same-day delivery if these are available at affordable prices. With a rising demand for last mile delivery and fulfillment of the same business and consumer packages within a specified timeframe, excellence in final mile deliveries has become critical. Fortunately, shippers, logistics and technology providers' looks ahead to fulfill all expected demand of customers timely through accepting innovative technologies designed for last mile deliveries. This factor is expected to influence the growth of last mile delivery market.

Endless developments to evolve entire business trade
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.

GLOBAL LAST MILE DELIVERY MARKET SEGMENTATION
Global Last Mile Delivery Market - By Technology
Drones
Autonomous Ground Vehicles
Droids
Others

Global Last Mile Delivery Market - By Type
B2B
B2C

Global Last Mile Delivery Market - By Application
3C Products
Fresh Products
Others

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Reasons to Buy
• Save the time and resources required for entry level research by getting an insight into the leading players and segments of global Last Mile Delivery market.
• The report highlights key business priorities which will help companies to reform their business strategies and establish themselves in the global market.
• The key findings and recommendations given in the report emphasize on crucial progressive industry trends in the Last Mile Delivery market thereby enabling players to develop effective long term strategies in order to garner their market revenue.
• Gain crucial insights into global market trends and outlook and the factors driving and hindering market growth.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Sameer Joshi
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Phone: +1-646-491-9876

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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