Press release
Last Mile Delivery Market 2024: Growth and Restrain Factors Analysis 2024-2031
Last Mile Delivery Market
"Last Mile Delivery Market" in terms of revenue was estimated to be worth $164.74 billion in 2024 and is poised to reach $357.45 billion by 2031, growing at a CAGR of 10.37% from 2023 to 2031 according to a new report by InsightAce Analytic.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global last mile delivery market are:
* The surge in online shopping and e-commerce activities is a significant driver, intensifying the demand for efficient last-mile delivery services.
* Increasing customer expectations for fast and convenient deliveries are propelling the need for optimized last-mile logistics solutions.
* Ongoing technological advancements, including route optimization, real-time tracking, and automation, are improving last-mile delivery efficiency.
Primary obstacles in the Last Mile Delivery Market's expansion:
* Urban congestion and traffic bottlenecks present significant challenges, hindering the seamless execution of last-mile deliveries in densely populated areas.
* The high operational costs and pressures on profitability in the last-mile delivery sector restrain the sector, prompting the need for innovative, cost-effective solutions.
* The increasing emphasis on environmental sustainability poses a challenge as companies strive to balance delivery speed with eco-friendly practices.
Future expansion opportunities for the global last mile delivery market:
* Opportunities lie in the continuous innovation of delivery technologies, including drones, autonomous vehicles, and robotics, to enhance last-mile delivery efficiency.
* Strategic collaborations and partnerships between delivery service providers, retailers, and technology companies present opportunities for improving overall last-mile logistics.
* Leveraging data analytics for predictive insights in route optimization, demand forecasting, and customer preferences opens avenues for optimizing last-mile delivery processes.
Market Analysis
The expansion of the global Last Mile Delivery Market Transportation Market is propelled by factors like the increasing middle-class population in both developed and developing regions. Furthermore, the swift pace of industrialization, urbanization, and the continuous growth of the logistics industry contributes significantly to the overall growth of the global last mile delivery market transportation market.
List of Prominent Players in the Last Mile Delivery Market:
* Cargo Carriers Limited
* CEVA Logistics
* CJ Logistics Corporation
* Concerto Private Limited
* DB SCHENKER
* DHL Global Forwarding
* FedEx Corporation
* Interlaid Pty. Ltd.
* J&J Global Limited
* Kerry Logistics Network Limited
Last Mile Delivery Market Report Scope:
Report Attribute
Specifications
Market size value in 2023
USD 164.74 billion
Revenue forecast in 2031
USD 357.45 billion
Growth rate CAGR
CAGR of 10.37% from 2024 to 2031
Quantitative units
Representation of revenue in US$ Million, and CAGR from 2024 to 2031
Historic Year
2019 to 2023
Forecast Year
2024-2031
Report coverage
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments covered
By Delivery Mode, Application, Destination, Service Type, Vehicle Type And Mode Of Operation
Regional scope
North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Recent Developments:
* In June 2023, Amazon unveiled its strategy to incorporate small businesses into its efforts to improve last-mile delivery operations. This initiative, extending across 23 states in the U.S., will engage a variety of small businesses, including clothing stores, florists, and local convenience stores. Amazon estimates that participating small businesses could potentially earn up to USD 27,000 per year by taking on delivery responsibilities.
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Last Mile Delivery Market Dynamics:
Market Drivers: Increasing Acceptance Of Certain Cosmetic Procedures
The well-established charging infrastructure for electric vehicles (EVs) plays a pivotal role in bolstering the development of the Last Mile Delivery Market transportation Market. As the world transitions towards sustainable and eco-friendly transportation solutions, electric vehicles have gained prominence, particularly in the Last Mile Delivery Market segment. The existence of a robust charging infrastructure addresses a critical concern for electric delivery vehicles, ensuring their operational viability. The availability of widespread charging stations provides assurance to logistics companies and businesses that rely on Last Mile Delivery Market services using electric vehicles.
Challenges: Regulations Imposed By Government Authorities For Control Of Carbon Emissions
The expansion of the global Last Mile Delivery Market transportation sector faces a substantial challenge in the form of stringent regulations imposed by government authorities to control carbon emissions and greenhouse gas emissions. Governments worldwide are increasingly prioritizing environmental sustainability and are implementing measures to curb the impact of transportation on the environment. In this context, Last Mile Delivery Market operations, often reliant on conventional fuel-powered vehicles, encounter hurdles in complying with these stringent emission standards.
North America Is Expected To Grow With The Highest CAGR During The Forecast Period
North America has emerged as a dominant force in the Market, securing its leadership in the evolving logistics landscape through several pivotal factors. One key contributor is the substantial increase in e-commerce activities within the region, where a growing consumer base is opting for online shopping due to its convenience and diverse product range. This heightened demand for efficient last-mile delivery services has significantly elevated North America's standing in the Market. Additionally, the region's robust technological infrastructure has played a vital role in supporting the growth of last-mile delivery services.
Segmentation of Last Mile Delivery Market-
By Mode of Delivery-
* Regular Delivery
* Same Day Delivery or Express Delivery
By Application
* E Commerce
* Retail and FMCG
* Healthcare
* Mails and Packages
* Others
By Destination
* Domestic
* International
By Service Type
* Business-To-Business (B2B)
* Business-To-Consumer (B2C)
* Customer-To-Customer (C2C)
By Vehicle Type
* Motorcycle
* LCV
* HCV
* Drones
By Mode of Operation
* Non-Autonomous
* Autonomous
By Region-
North America-
* The US
* Canada
* Mexico
Europe-
* Germany
* The UK
* France
* Italy
* Spain
* Rest of Europe
Asia-Pacific-
* China
* Japan
* India
* South Korea
* Southeast Asia
* Rest of Asia Pacific
Latin America-
* Brazil
* Argentina
* Rest of Latin America
Middle East & Africa-
* GCC Countries
* South Africa
* Rest of Middle East and Africa
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Media Contact
Company Name: InsightAce Analytic Pvt. Ltd
Contact Person: Diana D'Souza
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=last-mile-delivery-market-2024-growth-and-restrain-factors-analysis-20242031]
Country: United States
Website: https://www.insightaceanalytic.com/
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