last mile delivery Market

The global last mile delivery market was valued at US$ 1.99 Bn in 2018 and is expected to reach US$ 7.69 Bn by 2027 with a CAGR growth rate of 16.7% in the forecast period from 2019 to 2026.

The logistics services have been dependent on the manual labor starting from inventory planning, stocking, and management of warehouse, dispatch, and deliveries. Nevertheless, automation helps in optimizing the processes in a way that enable the firms to offer efficient services and save time. Many warehouses have already deployed advanced solutions, including automated loading & unloading systems. Further, advancements in data processing and optics enable the automation of complicated processes.

The factors driving the last mile delivery market is embraced with, integration of advanced technologies into existing systems, rise in the consumers' demand for just-in-time delivery. However, the inappropriate structure of transportation mode and parcel deliveries is expected to hinder the growth of last mile delivery market in the coming years.

The companies have entered an era of exceptional change with the advent of evolving customer expectations and digitalization, supply chain, and logistics. In response to this change, advanced technologies are beginning to appear, transforming models of business, streamlining the operations, and improving efficiency. Further, the advent of automation in the process of logistics management has proved to be advantageous with significant impact. With the support received from software service providers and logistics companies, the Americas, Asia, and Europe region are witnessing massive growth.

In the global last mile delivery market, Asia Pacific is anticipated to grow with the highest CAGR during the forecast period, due to the presence of a large number of logistics providers and intense competition owing to the rising demand for outsourced services. This growth attracted several non-asset-based entrants and encouraged existing players to expand their geographic reach with a broad service portfolio in Asia countries. In context to high market share, Asia Pacific contributes heavily in the last mile delivery market, followed by North America and Europe.

The last mile delivery market globally is segmented by application into commercial, industrial, warehouse, and other. Geographically, the last mile delivery market is divided into five regions, including North America, Europe, Asia-Pacific, and the Middle East & Africa, and South America.

The overall last mile delivery market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the last mile delivery market. Also, multiple primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the last mile delivery industry.