- Demand for fast delivery of packages, and technological advancements in delivery vehicles propel the growth of the autonomous last mile delivery market.
PORTLAND, Oregon, Jan. 22, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Autonomous Last Mile Delivery Market by Application (Logistics, Healthcare & Pharmaceuticals, Food & Beverages Retail, and Others), Solution (Hardware, Software, and Service), Range (Short Range (<20 km) and Long Range (>20 km)), and Vehicle Type (Aerial Delivery Drones, Ground Delivery Vehicles, and Self-driving Trucks & Bus): Global Opportunity Analysis and Industry Forecast, 2021-2030." As per the report, the global autonomous last mile delivery industry is projected to value $11.12 billion in 2021 and is anticipated to reach $75.64 billion by 2030, growing at a CAGR of 23.7% from 2021 to 2030.
Drivers, restraints, and opportunities-
Demand for fast delivery of packages, and technological advancements in delivery vehicles are the major factors driving the growth of the autonomous last mile delivery market. On the other hand, lack of required infrastructure to support operations of autonomous delivery services, and stringent government regulations impede the growth to some extent. However, development of aerial delivery drones, and efficient way to deliver packages are expected to usher in a number of opportunities in the industry.
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The ground delivery bots segment to dominate till 2030-
Based on vehicle type, the ground delivery bots segment is expected to contribute to nearly two-fifths of the global autonomous last mile delivery market share in 2021, and would retain its dominance by the end of 2030. This is due to the developments carried out by various companies toward delivering the products to the end customers without least human involvement. The Aerial delivery drones' segment, on the other hand, would grow at the fastest CAGR of 26.1% during 2021–2030. Zero interruption in the way while delivering the product to the customers boosts the growth of the segment.
The retail segment to rule the roost during the forecast period-
Based on application, the retail segment is anticipated to account for more than one-fourth of the global autonomous last mile delivery market revenue in 2021, and would rule the roost throughout the forecast period. Increased demand of retail goods from the customers fuels the growth of the segment. The same segment is also expected to register the fastest CAGR of 26.8% during the estimated period.
North America to lead the trail by 2026-
Based on geography, North America is projected to generate the major share in 2021, holding two-fifths of the global autonomous last mile delivery market. Adoption of advanced technology along with constant development in last mile delivery system is creating huge demand to invest in autonomous last mile delivery market from the giant players operating in this business across the province. The region is also predicted to cite the fastest CAGR of 25.9% during 2021–2030.
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Frontrunners in the industry-
- Starship Technologies
- Drone Delivery Canada
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SOURCE Allied Market Research