Last Mile Delivery Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The last mile delivery market size has grown rapidly in recent years. It will grow from $159.43 billion in 2023 to $178.92 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to e-commerce growth, the shift to same-day delivery, investment in delivery infrastructure, environmental concerns, and regulatory changes.
The last mile delivery market size is expected to see rapid growth in the next few years. It will grow to $288.00 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to advancements in autonomous delivery, demand for sustainable delivery solutions, last-mile analytics, and expansion of urban logistics solutions. Major trends in the forecast period include on-demand delivery, contactless delivery options, expansion of urban logistics solutions, last-mile automation, and data analytics and route optimization.
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Scope Of Last Mile Delivery MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Last Mile Delivery Market Overview
Market Drivers -The rapid growth of e-commerce is expected to propel the growth of the last mile delivery market going forward. E-commerce, short for electronic commerce, refers to the buying and selling of goods or services over the Internet or other electronic networks. The ongoing expansion of e-commerce adoption is due to several factors, including the combination of technological innovation, changing consumer behaviors, and evolving business models worldwide. Last mile delivery in e-commerce is used to ensure efficient, timely, and cost-effective delivery of products to customers’ doorsteps, marking the final leg of the delivery process. It plays a vital role in the success of e-commerce businesses by enhancing customer satisfaction and fostering brand loyalty. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, e-commerce sales in the United States surged to approximately $1,118.7 billion in 2023, marking a 7.6% increase compared to the preceding year. Therefore, the rapid growth of e-commerce is driving the growth of the last mile delivery market.
Market Trends – Major companies operating in the last mile delivery market are focusing on developing tech-enabled cold chain solutions for last mile deliveries to enhance efficiency and ensure the safe transportation of perishable goods. Cold chain solutions for last-mile deliveries are specialized logistics infrastructure and processes designed to maintain specific temperature conditions during the transportation of perishable goods from distribution centers or hubs to the final destination. For instance, in September 2022, Celcius Logistics, an India-based provider of logistics and supply chain solutions, launched its smart last mile delivery platform to address the challenges in the last-mile delivery of perishable goods. This innovative platform is a tech-enabled cold chain solution for last mile delivery that is designed to monitor and analyze gaps in distribution, deploy predictive algorithms to eliminate potential risk areas, reduce bottlenecks, speed up ETAs (estimated time of arrival), and provide shippers with absolute visibility of their products from start to finish. Through this platform, Celcius aims to establish a nationwide network of last-mile vehicles and storage points to enhance the efficiency of primary and secondary movement and storage of perishable goods.
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
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Regional Insights – 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.
Key Companies – 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.
Table of Contents
1. Executive Summary
2. Last Mile Delivery Market Report Structure
3. Last Mile Delivery Market Trends And Strategies
4. Last Mile Delivery Market – Macro Economic Scenario
5. Last Mile Delivery Market Size And Growth
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27. Last Mile Delivery Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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