Last Mile Delivery Market Size $288.9 billion in 2021 to $288.9 billion by 2031 Riding a Strong 8.1% CAGR

This rapid growth is being fueled by skyrocketing e-commerce demand, the rise of instant and same-day delivery expectations, and technological advancements such as route optimization software, autonomous delivery vehicles, and drone logistics. Urbanization and evolving consumer behavior continue to reshape the final leg of delivery, turning the "last mile" into a key battleground for logistics efficiency and customer satisfaction.

According to the report, the global last mile delivery industry generated $131.5 billion in 2021, and is expected to reach $288.9 billion by 2031, witnessing a CAGR of 8.1% from 2022 to 2031.

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Last mile delivery is the final logistics stage in the order process. It takes place after the products have been received, placed in the warehouse, sorted, picked, packed, and shipped to the appropriate distribution centers. Last-mile delivery is all about shipping the products from delivery hubs directly to the customer's door. The inclination of consumers towards quick and timely delivery is likely to promote the growth of the last-mile delivery market. The spectacular rise in online and e-commerce sales in developing countries has increased the need for parcel shipment.

This aspect may trigger the growth of the last-mile delivery market. Apart from this, the omnichannel supply chains are boosting the business in the logistics and transportation sector which further may facilitate the growth of the last-mile delivery market. Furthermore, same-day delivery is one of the major market drivers which has grabbed consumer attention. This aspect is likely to support the growth of the last-mile delivery market.

For instance, in January 2022, DPD Group collaborated with Asendia USA to provide quick and cost-effective e-commerce package delivery services to Europe from the U.S. enabling exceptional growth potential in the region.

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The factors such as development of e-commerce industry, increase in trading activities due to globalization, technological advancements in delivery vehicles, and increase in demand for fast delivery of packages drives the last mile delivery market growth. However, poor infrastructure & higher logistics costs, lack of control of manufacturers and retailers on logistics service, and imprecise postal address system is expected to hamper the growth of the market. Further, the adoption autonomous delivery to reinforce the demand, cost cutting & lead time reduction due to adoption of multi-modal system, and growing e-commerce industry coupled with rise in B2C deliveries is expected to create numerous opportunities for the growth and expansion of the last mile delivery market.

Leading Market Players

A1 Express Services Inc.
Amazon.com
Aramex
BEST Inc
DB Schenker
Deutsche Post AG (DHL GROUP)
DPD
Drone Delivery Canada
Dropoff, Inc.
DSV (DSV PANALPINA)
FedEx
Flirtey
Flytrex

In addition, the last mile delivery market has witnessed significant growth in recent years, owing to the improved customer service, reduction in operating costs, and advancements in the conception of delivery services such as automated delivery and aerial delivery. Furthermore, the companies operating in the last mile delivery market have adopted partnerships, investments, and business expansions to increase their market share and expand their geographical presence. For instance, in September 2021, Matternet announced its first establishment of the Matternet Station at EOC hospital group in Switzerland, Lugano. The Matternet M2 drone including its cloud platform, as well as the Matternet M2's beyond-visual-line-of-sight (BVLOS) technology, will be used to enable autonomous drone delivery.

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Covid-19 Scenario

During the Covid-19 pandemic, the e-commerce sector has experienced a sluggish growth in various categories such as groceries and home care as the lockdown restriction and social distancing made it difficult for people to procure products in these categories.
Increase in demand for contactless delivery from customers and the expansion of the e-commerce sector during the pandemic led to the growth of the last mile delivery market.
In addition, partnerships and collaboration activities between various companies and autonomous vehicle & ground delivery bot manufacturers improved the service and raised the demand for last mile delivery market.

KEY FINDINGS OF THE STUDY

By service type, customer-to-customer (C2C) segment dominated the global last mile delivery market in terms of growth rate.
On the basis of vehicle type, the drones segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of mode of operation, the autonomous segment is the highest contributor to the last mile delivery market in terms of revenue.
By delivery mode segment, the same-day delivery or express delivery segment is anticipated to exhibit a remarkable growth during the forecast period.
By application, the retail & FMCG segment is anticipated to exhibit a remarkable growth during the forecast period.
On the basis of destination, the international segment is anticipated to exhibit a remarkable growth during the forecast period.

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