Press release
Artificial Intelligence-Enabled Last Mile Delivery Market Set to Reach $2.8 Billion by 2029 with 15.6% Yearly Growth
Artificial Intelligence Enabled Last Mile Delivery Market
The surge in E-commerce undertakings is predicted to fuel the expansion of the market for artificial intelligence-assisted last-mile delivery. E-commerce undertakings encompass online activities such as the purchasing, selling, and swapping of goods and services through the Internet. Factors such as enhancements in internet capacity, the convenience provided by internet retailing, shifting consumer inclinations, and rising use of digital forums are driving the growth of e-commerce retail. Artificial intelligence-assisted last-mile delivery heightens the efficiency, reliability, and economic viability of e-commerce undertakings, which in turn increases customer satisfaction and market growth. For example, in November 2023, the International Trade Administration, a governmental organization based in the US, predicted an annual growth rate of 12.6% for e-commerce sales in the UK by 2025. Additionally, as of January 2021, 36.3% of the UK's retail sector comprised of consumer e-commerce, with an anticipated projection of $285.60 billion by 2025. Therefore, the upswing in E-commerce undertakings is propelling the expansion of the market for artificial intelligence-assisted last-mile delivery.
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What growth opportunities are expected to drive the artificial intelligence-enabled last mile delivery market's CAGR through 2034?
The market size of last-mile delivery powered by artificial intelligence has witnessed remarkable growth in the past few years. The market, which stood at $1.35 billion in 2024, is set to inflate to $1.57 billion in 2025, translating to a compound annual growth rate (CAGR) of 16.0%. Factors contributing to this growth during the historical period include an increase in e-commerce needs, urban development, escalating client expectations, advances in AI technologies, and a burgeoning capacity for data analytics.
Anticipated to experience swift expansion in the ensuing years, the market size of the artificial intelligence-enabled last mile delivery is projected to soar to $2.8 billion in 2029, boasting a compound annual growth rate (CAGR) of 15.6%. A host of factors are believed to be driving the predicted growth during this forecast period. The continued blending of robotics into everyday life, the accelerated expansion of e-commerce, the enlargement of IoT networks, amplified competition, and evolving regulatory mandates are all expected to contribute. Noteworthy trends during this projected period will include the proliferation of electric vehicles, implementation of AI, emphasis on sustainable delivery methods, surge in quick commerce, and widespread use of contactless delivery approaches.
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How are the latest trends influencing the growth of the artificial intelligence-enabled last mile delivery market?
Leading corporations within the artificial intelligence-powered last-mile delivery market are introducing supply chain AI aides to boost the movements of products both in and out. This type of AI support enhances logistics and refines decision-making via intelligent automation. As an illustration, in February 2024, the US-based supply chain management firm, One Network Enterprises, unveiled NEO Assistant. This innovative AI support tool, developed by One Network Enterprises, helps improve decision-making through real-time actionability, adaptive flows, smart prescriptions, and interactive visualizations. The mechanism is constructed on a single digital supply chain network, offering comprehensive visibility and management with one single truth--from raw material to final delivery. The NEO Assistant remains fully aware of the real-time condition of the user's supply chain and re-evaluates its presumptions when this condition changes.
Which growth-oriented segments of the artificial intelligence-enabled last mile delivery market are leading the industry's development?
The artificial intelligence-enabled last mile delivery market covered in this report is segmented -
1) By Type: Hardware, Software, Services, Predictive Analysis, Other Types
2) By Business Model: On-Demand Delivery, Other Business Models
3) By End-User Industry: E-Commerce, Logistics, Healthcare, Travel And Tourism, Food And Beverage, Other End-User Industries
Subsegments:
1) By Hardware: Delivery Drones, Autonomous Delivery Vehicles, GPS And Tracking Devices
2) By Software: Route Optimization Software, Delivery Management Software, Fleet Management Software
3) By Services: AI-Aased Delivery Services, AI Integration Services, AI Consulting Services
4) By Predictive Analysis: Demand Forecasting, Delivery Time Prediction, Customer Behavior Analytics
5) By Other Types: Smart Lockers, Automated Pickup Stations
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What regions are leading the charge in the artificial intelligence-enabled last mile delivery market?
North America was the largest region in the artificial intelligence-enabled last mile delivery market in 2024. The regions covered in the artificial intelligence-enabled last mile delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the artificial intelligence-enabled last mile delivery market?
Major companies operating in the artificial intelligence-enabled last mile delivery market report are NVIDIA Corporation; DoorDash Inc.; WorkWave LLC; Locus Robotics Corporation; FarEye Technologies Inc.; Bringg Delivery Technologies Ltd.; Magaya Corporation; Circuit Logistics Inc.; Shipwell Inc.; LogiNext Solutions Private Limited; Freightos Limited; Wise Systems Inc.; Route4Me Inc.; GetSwift Limited; Onfleet Inc.; Transmetrics AD; ClearMetal Inc.; Boxbot Inc.; Refraction AI Inc.; Robby Technologies Inc.; Rapidus Inc.; OptimoRoute Inc.; Routific Inc.; Detrack Systems Pte. Ltd.; PickPack LLC
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What Is Covered In The Artificial Intelligence-Enabled Last Mile Delivery Global Market Report?
• Market Size Forecast: Examine the artificial intelligence-enabled last mile delivery market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence-enabled last mile delivery market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence-enabled last mile delivery market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence-enabled last mile delivery market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence-enabled last mile delivery market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence-enabled last mile delivery market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence-enabled last mile delivery market.
• Competitive Landscape: Review strategic developments in the artificial intelligence-enabled last mile delivery market, including expansions, agreements, and new product launches.
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