Press release
Strong Growth Ahead: Last Mile Delivery Market Size To Grow At Arecord 12.6% Cagr By 2029
Last Mile Delivery Market
How Big Is the Last Mile Delivery Market Size Expected to Be by 2034?
The last mile delivery market has shown rapid growth in recent years. It is projected to grow from $178.92 billion in 2024 to $202.01 billion in 2025, at a compound annual growth rate (CAGR) of 12.9%. The market expansion is attributed to the growth of e-commerce, the shift towards same-day delivery, investments in delivery infrastructure, environmental concerns, and regulatory changes.
The last mile delivery market is expected to experience rapid expansion in the next few years. It is set to grow to $324.48 billion by 2029, at a compound annual growth rate (CAGR) of 12.6%. This growth can be attributed to advancements in autonomous delivery technology, demand for sustainable delivery options, last-mile analytics, and the expansion of urban logistics solutions. Major trends include on-demand delivery, contactless delivery, last-mile automation, and data analytics for route optimization.
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What Are the Emerging Segments Within the Last Mile Delivery Market?
The last mile delivery market covered in this report is segmented -
1) By Delivery Mode: Regular Delivery, Same-Day Delivery Or Express Delivery
2) By Technology: Autonomous, Non-autonomous
3) By Service Type: Business-To-Business (B2B), Business-To-Consumer (B2C), Customer-To-Customer (C2C)
4) By Destination: Domestic, International
5) By Application: Food And Beverages, Retail And E-commerce, Healthcare, Other Applications
Subsegments:
1) By Regular Delivery: Standard Delivery, Scheduled Delivery
2) By Same-Day Delivery Or Express Delivery: Morning Delivery, Afternoon Delivery, Or 1-Hour Delivery, 2-Hour Delivery, 3-Hour Delivery
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What Long-Term Drivers Are Shaping Last Mile Delivery Market Trends?
The rapid growth of e-commerce is expected to drive the growth of the last mile delivery market. E-commerce involves buying and selling goods or services online. The expansion of e-commerce is driven by technological advancements, changing consumer behaviors, and evolving business models worldwide. Last mile delivery ensures efficient, timely, and cost-effective product delivery to customers' doorsteps, making it a crucial part of e-commerce success by improving customer satisfaction and loyalty. For example, in February 2024, the United States Census Bureau reported that e-commerce sales in the US reached approximately $1,118.7 billion in 2023, a 7.6% increase from the previous year. Therefore, the growth of e-commerce is driving the expansion of the last mile delivery market.
Who Are the Top Competitors in Key Last Mile Delivery Market Segments?
Major companies operating in the last mile delivery market are Amazon.com Inc., United Parcel Service Inc., DHL International GmbH, FedEx Corporation, La Poste Group, SF Holding Co. Ltd., Uber Technologies Inc., DB Schenker, Poste Italiane S.p.A., DPD Group, DSV Panalpina AS, Royal Mail plc, Yamato Holdings Co. Ltd., Australia Post, DoorDash Inc., XPO Logistics Inc., Grubhub Inc., Deliveroo, Aramex PJSC, Zomato Pvt. Ltd., Postmates Inc., Correios, TNT Holdings B.V., Gopuff, Deliv Inc.
What Are the Latest Developing Trends in the Last Mile Delivery Market?
Leading firms in the last mile delivery sector are concentrating on the creation of technology-driven cold chain methods for final-mile deliveries, optimizing effectiveness and guaranteeing the safe transport of perishable items. These methods are specialized logistics structures and procedures created to keep a certain temperature range during the transport process of perishable items from distribution centers to their final point. For example, Celcius Logistics, an Indian logistics and supply chain solutions company, in September 2022, unveiled their intelligent platform for last mile delivery to combat difficulties in the delivery of perishable items at the last mile. This groundbreaking platform is a cold chain solution for last mile delivery that utilizes technology to track and examine distribution gaps, apply predictive algorithms to eliminate potential risk zones, diminish bottlenecks, hasten ETAs (estimated times of arrival), and provide absolute transparency for shippers on their product's journey from beginning to end. Through this platform, Celcius is planning to create a nationwide network of final-mile vehicles and storage points to improve the efficiency of primary and secondary transportation and storage of perishable goods.
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Which Regions Are Becoming Hubs for Last Mile Delivery Market Innovation?
North America was the largest region in the last mile delivery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the last mile delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Last Mile Delivery Market?
2. What is the CAGR expected in the Last Mile Delivery Market?
3. What Are the Key Innovations Transforming the Last Mile Delivery Industry?
4. Which Region Is Leading the Last Mile Delivery Market?
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