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Artificial Intelligence-Enabled Last Mile Delivery Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Artificial Intelligence-Enabled Last Mile Delivery Market
How Large Will the Artificial Intelligence-Enabled Last Mile Delivery Market Size By 2025?
The market size of last-mile delivery powered by artificial intelligence accelerated significantly in recent years. It is projected to expand from $1.35 billion in 2024 to $1.57 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 16.0%. Factors such as burgeoning demand for e-commerce, escalating urbanization, higher customer expectations, advances in AI technology, and enhanced data analytics capabilities influenced the boom in the historical period.
How Big Is the Artificial Intelligence-Enabled Last Mile Delivery Market Size Expected to Grow by 2029?
The market for last-mile delivery enabled by artificial intelligence is projected to experience substantial expansion in the coming years, reaching $2.8 billion in 2029 with a compound annual growth rate (CAGR) of 15.6%. The predicted growth during the forecast period is likely due to a rise in the use of robotics, the accelerated development of e-commerce, the expansion of IoT networks, mounting competitive pressure, and increasing regulatory changes. Foreseen trends for the forecast period encompass electric vehicles, the incorporation of AI, eco-friendly delivery, rapid commerce, and the use of contactless delivery methods.
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Which Key Market Drivers Powering Artificial Intelligence-Enabled Last Mile Delivery Market Expansion and Growth?
The upward trend in E-commerce activities is set to boost the expansion of the artificial intelligence-powered last-mile delivery market. E-commerce activities involve online commercial activities, encompassing purchasing, vending, and swapping products and services through the Internet. The escalation of the e-commerce retail sector's growth is credited to various elements including the progression of internet infrastructure, the convenience provided by virtual shopping, shifting consumer predilections, and the escalating utilization of digital platforms. AI-powered last-mile delivery enhances the efficacy, reliability, and economic efficiency of e-commerce ventures, leading to heightened customer satisfaction and growth. For example, in November 2023, as stated by the International Trade Administration, a governmental entity based in the US, e-commerce sales in the UK are predicted to see a yearly growth rate of 12.6% by 2025. Furthermore, as of January 2021, consumer e-commerce constituted 36.3% of the UK's retail industry and is forecasted to net $285.60 billion by 2025. Hence, the surge in E-commerce activities propels the expansion of the artificial intelligence-powered last-mile delivery market.
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Which Fast-Growing Trends Are Poised to Disrupt the Artificial Intelligence-Enabled Last Mile Delivery Market?
Leading firms in the artificial intelligence-driven last-mile delivery market are enhancing supply chain AI aids to improve the movement of goods in and out. These AI aids perfect logistics and decision-making through smart automation. For instance, in February 2024, One Network Enterprises, an American supply chain management firm, introduced NEO Assistant - an innovative supply chain AI assistant developed by the company. NEO Assistant facilitates superior decision-making through instant actionable insights, adaptable workflows, intelligent recommendations, and interactive visualization. The tool operates on a singular digital supply chain network, delivering full visibility and command with a unified data model and reality, extending from raw material to last-mile delivery. NEO Assistant is completely cognizant of the real-time condition of the user's supply chain and adjusts its presumptions when this condition alters.
What Are the Emerging Segments in the Artificial Intelligence-Enabled Last Mile Delivery Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Artificial Intelligence-Enabled Last Mile Delivery Industry?
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.
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