Press release
Autonomous Last Mile Delivery Market is Forecasted to Reach US$ 106.27 Billion by 2034
With projections to expand at a CAGR of 19.7%, the global autonomous last mile delivery market is forecasted to increase from a valuation of US$ 17.45 billion in 2024 to US$ 106.27 billion by the end of 2034.Autonomous last-mile delivery utilizes self-driving vehicles to transport goods or services directly to customers' homes, eliminating the need for human intervention. This approach ensures timely delivery while upholding the company's reputation and market standing. The surge in internet usage and the expansion of e-commerce have spurred the demand for efficient delivery methods, prompting businesses to explore innovative solutions.
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In recent years, there has been a fast increase in demand for autonomous last mile deliveries. The market has seen significant expansion in recent years due to developments in delivery system technology. The market's expansion can be linked to the growing use of autonomous vehicles to deliver goods without the need for human intervention.
Furthermore, the growth of the e-Commerce business has resulted in improved delivery methods, resulting in better and more efficient product delivery, which is fueling demand for autonomous last mile delivery.
North America is the most important market for self-driving last-mile deliveries. The increased demand for contactless delivery systems in the region is the cause for this high market share. In order to avoid the spread of COVID-19, various autonomous last mile delivery services have recently emerged to meet the ongoing demand for contactless delivery.
To address this, companies like Starship Technologies, Savioke, Nuro, and others are developing drone platforms for use in logistics and transportation, healthcare and pharmacies, and retail and food delivery, among other applications. Several companies, however, are proposing ground delivery vehicle technology, such as bots and self-driving trucks, for product distribution.
"Manufacturers of aerial delivery drones are developing platforms with AI technology to enhance delivery processes. Recently, aerial drones with rotatory wings integrated with software solutions that supports the functionality of AI technology have been launched," says a Fact.MR analyst.
Key Drivers:
Expansion of the e-Commerce industry has led to upgraded delivery systems. This has resulted in better and more efficient product distribution, which is fueling demand for autonomous last mile delivery.
Surge in Covid-19 has resulted in demand for contactless delivery thus driving the autonomous last mile delivery market growth.
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Some of the leading players operating in the autonomous last mile delivery market profiled by Starship Technologies; Savioke; Nuro; Jd.Com; Amazon; Eliport; Robby Technologies; KiwicampusCompetitive Landscape
The majority of the organizations profiled in the research have been working to improve their current operating framework. The following are some of the most significant developments:
By 2021, Amazon plans to invest $2 billion in electric vehicles to minimize pollution throughout its businesses. Amazon partnered with Mahindra Electric to purchase 100,000 electric delivery cars.
In 2021, Starship Technologies announced intentions to expand its robotics delivery services in order to combat the spread of COVID-19. In addition, the corporation is spreading its e-Commerce services to a number of other countries.
Market Segmentations
By Platform:
Aerial Delivery Drones
Ground Delivery Vehicles
By Solution:
Hardware
Infrastructure
Software
By Range:
< 20 Kilometers
> 20 Kilometers
Payload Weight
< 5 Kilograms
5 to 10 Kilograms
10 Kilograms
By Application:
Logistics & Transportation
Healthcare & Pharmacies
Retail & Food
By Region:
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia & Oceania
Middle East & Africa
Read More - https://www.factmr.com/report/autonomous-last-mile-delivery-market
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