Booming E-Commerce Sector Driving Last-Mile Delivery Demand

The shifting consumer requirements are responsible for businesses to offer last-mile delivery of products. Be it the residence or retail store, the endpoint should be reached quickly, with the aim of having happy customers. It is also the most expensive phase of the entire journey of a product from the passage hub to its final destination; thus, the requirement for the optimization of resources is being focused upon by shippers as well as retailers and manufacturers. It comprises over half of the total delivery cost of the market, as per industry experts Hence, the last-mile delivery market was valued at $15.7 billion in 2019, and it will propel at a massive CAGR, of more than 20%, to reach $117.9 billion in 2030.

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When an order is placed by a customer on a web browser or mobile application, it connects with the server of the retailer or e-commerce company. The order is then processed by a centralized management system, which confirms if the stock of a certain product is available and offers the customer the option to make an online payment for the shipment asked for. It then directs the concerned warehouse to dispatch the shipment to the consumer. At this point, the role of the last-mile delivery begins. The transporter directs an agent for the collection of the purchased product from the company's warehouse and delivers it to the customer's doorstep.

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To gratify clients who want to buy products online, without any intrusion, the number of delivery vehicles in the leading 100 cities around the globe will rise by 36% by 2030. The adoption of self-driving vehicles is likely to drive a major alteration in the last-mile delivery model. Artificial intelligence is important for autonomous driving systems as it allows consistent and instantaneous recognition of things that are present in their vicinity. The autonomous driving expertise will let to a radical drop in the delivery cost, thus prompting added growth in the volume of e-commerce orders. Novel vehicles and logistics structures are likely to evolve even further in the coming years.

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