Last Mile Delivery Market on Track to Surpass USD 481.6 Billion by the year 2034 Driven by the Surge in Online Shopping and Adoption of Automation Technologies

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Last Mile Delivery Market Size, Share & Trends Analysis Report By Delivery Mode (Regular Delivery, Same-Day Delivery or Express Delivery), 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 Application (E Commerce, Retail and FMCG, Healthcare, Mails and Packages, Others), by Destination (Domestic, International)- Market Outlook And Industry Analysis 2034"

The Global Last Mile Delivery Market is estimated to reach over USD 481.6 Billion by the year 2034, exhibiting a CAGR of 10.5% during the forecast period.

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Last mile delivery refers to a method or service that facilitates the rapid, efficient, and seamless delivery of goods directly to the customer's location. Various businesses and industries offer this service, ensuring that products are dispatched from company outlets or distribution centers to the customer within a specified time frame. The surge in internet and e-commerce sales, particularly in emerging markets, has led to a significant increase in demand for parcel delivery services, which is expected to drive the expansion of the last mile delivery market.

Furthermore, the advancement of omnichannel supply chains is enhancing the efficiency of logistics and transportation sectors, which could further support the growth of the last mile delivery market. The growing popularity of subscription-based services has contributed to an increase in repeat purchases, thereby boosting demand for last mile delivery solutions. Additionally, same-day delivery, a key driver of consumer interest, is anticipated to play a pivotal role in fueling the market's growth in the near future.

List of Prominent Players in The Last Mile Delivery Market:
• 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
• Geodis
• Jet Delivery, Inc.
• Kerry Logistics Network Limited
• Marble Robot
• Matternet
• Power Link Expedite
• Savioke
• S.F. Express
• United Parcel Service, Inc. (UPS)
• USA Couriers
• XPO Logistics, Inc.
• YTO Express Group Co

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Market Dynamics:
Drivers:
The key drivers of globalization include shifting economic conditions and evolving market dynamics. Recent trade-related activities have increased as a result of globalization, and the expansion of global markets is another significant factor contributing to industry growth. In the coming years, trade activities between cities and neighboring countries are expected to further stimulate the market for last mile delivery services. As globalization continues to promote increased trade and highlight the need for efficient transportation solutions, it is anticipated to drive the growth of the last mile delivery sector.

Challenges:
Efficient supply chains, trade facilitation, and robust infrastructure are fundamental to logistics operations. The absence of these components forces businesses to maintain larger stock reserves and working capital, which can adversely affect regional and national competitiveness due to elevated financial costs. The logistics market is also hindered by insufficient infrastructure, leading to higher expenses and reduced reliability in the supply chain. Inefficiencies in transportation, inadequate storage facilities, complex tax systems, slow adoption of technological advancements, and a shortage of skilled logistics professionals further undermine the effectiveness of logistics operations.

Regional Trends:
The North American last mile delivery market is expected to capture a significant market share in terms of revenue and exhibit a high compound annual growth rate (CAGR) in the near future. This growth can be attributed to the region's high rate of technology adoption and anticipated improvements in delivery efficiency. Developed nations such as the U.S. and Canada, which are key markets for e-commerce and last mile logistics, are central to this expansion. Additionally, the Asia-Pacific region holds a substantial share of the market, driven by the increasing demand for customized workflows, automation, and streamlined operational processes, which are reshaping business operations. The high demand for last mile delivery services from numerous companies further supports market growth in this region.

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Recent Developments:
• In March 2022, a Pilot Program by Arcimoto and Directed Technologies was launched to Bring Ultra-Efficient Electric Delivery Vehicles to Australia. A rightsized electric vehicle from Arcimoto and class-leading digital fleet management systems from Directed will work together to optimize last mile delivery choices for the clients while smoothly integrating into their sustainability and technology goals.
• In May 2020, Ryder System Inc. expanded its eCommerce fulfillment network to better serve its customers by adding two new facilities and food-grade capabilities.

Segmentation Of Last Mile Delivery Market-
By Delivery Mode
• 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
• South East 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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This release was published on openPR.