NEW YORK, Oct. 11, 2021 /PRNewswire/ — The global last mile delivery market revenue is expected to rise to $117.9 billion by 2030, demonstrating a CAGR of 20.3% from 2020 to 2030. The market is being propelled by the growing demand for omnichannel retailing and increasing penetration of the internet in emerging economies, including Thailand, Indonesia, and India. Additionally, the soaring e-commerce sales in developing countries are predicted to fuel the progress of the market.
The other major last mile delivery market growth driver is the surging use of the real-time tracking technology. It assists customers in gaining insights into the location of their package, while the delivery-partner-centric real-time tracking solutions provide businesses with a holistic view of the logistics operations and help them offer better services to customers.
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Key Findings of Global Last Mile Delivery Market Report
- The e-commerce sector is predicted to register the highest growth rate in the last mile delivery market in the coming years owing to the growing importance of digital platforms in the logistics industry.
- The business-to-business (B2B) service dominated the last mile delivery market in the past. In recent years, the popularity of B2B e-commerce portals has grown massively as they provide quicker and easier checkouts and better options for repetitive future transactions.
- North America dominated the last mile delivery market in the past owing to the high requirement for these services in Canada and the U.S. The region is already home to many prominent last-mile delivery firms, with many more entering the niche.
- Latin America, Middle East, and Africa (LAMEA) is predicted to be the fastest-growing region in the market in the forthcoming years. With the rapid economic progress in major LATAM nations, such as Mexico and Brazil, their logistics and e-commerce industries are predicted to expand massively in the coming years.
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The COVID-19 pandemic has propelled the progress of the last mile delivery market because of the rising popularity of online shopping and surging number of delivery orders for groceries and food items, especially during the lockdown period. Additionally, the pandemic has fueled several technological innovations and the development of omnichannel retail business models.
Some of the leading last mile delivery market players are FedEx Corp., United Parcel Service Inc., XPO Logistics Inc., ArcBest Corp., DSV Panalpina A/S, CEVA Logistics AG, SEKO Worldwide LLC, J.B. Hunt Transport Services Inc., Dunzo Digital Pvt. Ltd., FLEXE Inc., Lalamove, Loginext Solutions Pvt. Ltd., Matternet Inc., myDoorman Inc., Onfleet Inc., Postmates Inc., RoboticWares Pvt. Ltd. (FarEye), Ryder System Inc., and DHL International GmbH.
Last Mile Delivery Market Report Coverage
Last Mile Delivery Market Service
Last Mile Delivery Market Application
- Package delivery
Last Mile Delivery Market Geographical Analysis
- North America
- Asia-Pacific (APAC)
- South Korea
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