How have the dynamics of Last Mile Delivery market changed?

The global last mile delivery market size was valued at USD 18.7 Bn in 2020, and it is expected to reach USD 62.7 Bn by 2027, with a CAGR of 18.9%, during the forecast period-2021-2027.
PLEASANTON, Calif. - Sept. 6, 2021 - PRLog -- The cost and inefficiencies of last mile delivery market has further been affected by continuous rise in the e-commerce in U.S. retail sales, which ultimately increase the number of parcels and this led to increase in customer expectations for fast and free delivery service.

However, there are certain factors that tends to increase the demand for the growth of last mile delivery market. The driving factors influencing the growth of the last mile delivery market includes increase in e-commerce services, online purchases, awareness regarding parcels delivery options, increase in disposable income. Further, lack of required infrastructure for delivery process and government regulations hampers the growth of the last mile delivery market.

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Last Mile Delivery Market Leading Vendors:

Cargo Carriers Limited, FedEx Corporation, United Parcel Service Inc., Tuma Transport, Swift Transport, Interlogix Pty. Ltd., Transtech Logistics, Procet Freight, Concargo Private Limited, J&J Global Limited, DB Schenker, DHL Global Forwarding, TNT Express, Kerry Logistics Network Limited, KART and Among Others

The report analyses the present competitive scenario, highlighting the activities performed by the key players in the market. Activities such as the new product launches, joint ventures, mergers & acquisitions, partnerships, collaborations, and other activities. Moreover, the report categorizes the market based on segments like products, end-users, applications, industry verticals, and regions. Furthermore, the report provides an in-depth overview of the major drivers, restraints, lucrative opportunities, and challenges that are impacting the overall market along with the estimates and forecasts of the revenue.

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Key Findings:
  • Based on vehicle, light duty vehicle accounted major share in terms of revenue of last mile delivery market and is expected to grow more during forecast period
  • Based on cargo, dry good is expected to have lucrative market growth during forecast period
  • Based on end user, e-commerce segment accounted the highest market share in year 2021 and is expected to grow at highest CAGR over forecast period
  • Geographically, Asia-Pacific expected to show highest growth in last mile delivery market during forecast period
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Jignesh Jariwala
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Location:Pleasanton - California - United States
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