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DUBLIN--(BUSINESS WIRE)--Dec 5, 2022--
The "Last Mile Delivery Market By Service Type, By Vehicle Type, By Mode of Operation, By Delivery Mode, By Application, By Destination: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the last mile delivery market was valued at $131.5 billion in 2021, and is estimated to reach $288.9 billion by 2031, growing at a CAGR of 8.13% from 2022 to 2031.
Last mile delivery is the last step of delivering of goods and services, when parcel is moved from transportation hub and en-routed for final destination at retail store or personal residence of customer. The focus of last mile delivery companies is mainly on delivery of good to the end-user as fast as possible. The most efficient and cost-efficient manner of shipping is transportation of goods through rail networks and container ships. However, goods arrive at a high-capacity ports, they must be transported to the last destination.
This last phase of supply chain is less efficient and comprises major part of total cost to move goods from transportation hub to destination and this problem is termed as Last Mile Problem. At present, retailers have started the search for alternatives to meet the customers need as traditional methods of delivery are not successful in all the regions. Transportation partners have started looking for delivery alternatives such as local regional carriers, drones, click-to-collect locations, and others, to provide faster last mile delivery.
Leading automobile companies are coming up with innovation in the last mile delivery market that are to be commercialized in future. For instance, 'Vans & Drones' and 'Vans & Robots' are projects by Mercedes-Benz in which drones deliver packages to the landing sites or vans roof. This system is developed in partnership with a drone startup company from Silicon Valley, Matternet.
The factors such as development of e-commerce industry, increase in trading activities due to globalization, technological advancements in delivery vehicles, and increase in demand for fast delivery of packages drives the last mile delivery market growth.
However, poor infrastructure & higher logistics costs, lack of control of manufacturers and retailers on logistics service, and imprecise postal address system is expected to hamper the growth of the market. Further, the adoption autonomous delivery to reinforce the demand, cost cutting & lead time reduction due to adoption of multi-modal system, and growing e-commerce industry coupled with rise in B2C deliveries is expected to create numerous opportunities for the growth and expansion of the last mile delivery market.
For the purpose of analysis, the global last mile delivery market is segmented on the basis of service, vehicle type, mode of operation, delivery mode, application, and destination. Based on service, the market is categorized into business-to-business (B2B), business-to-consumer (B2C), and customer-to-customer (C2C). Based on the vehicle type, it is fragmented into motorcycle, light commercial vehicle (LCV), heavy commercial vehicle (HCV), and drones.
Depending on the mode of operation, it is classified into non-autonomous and autonomous. By delivery mode, it is fragmented into regular delivery and same-day delivery or express delivery. Based on application, the market is further classified into e-commerce, retail and FMCG, healthcare, mails and packages, and others. Region wise, it is studied across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits
Key Market Segments
By Delivery Mode
By Application
By Destination
By Service Type
By Vehicle Type
By Mode of Operation
By Region
Key Market Players
For more information about this report visit https://www.researchandmarkets.com/r/gi57vg
View source version on businesswire.com:https://www.businesswire.com/news/home/20221205005525/en/
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KEYWORD:
INDUSTRY KEYWORD: TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/05/2022 10:26 AM/DISC: 12/05/2022 10:26 AM
http://www.businesswire.com/news/home/20221205005525/en