- Suppliers and Logistics Companies Looking to Leverage Autonomous Vehicles for Meeting Twin Objective of Evolving Customer Expectations and Cost-reduction; E-commerce Sector to Impart Big Momentum to Last Mile Delivery Transportation Market Growth
- Stakeholders in Developing World Adopting Technologies to Redefine Last Mile Delivery Transportation Approaches; Market to Reach ~US$ 400 bn by 2030-end
ALBANY, New York, May 29, 2020 /PRNewswire/ -- Evolving consumer expectations make last mile delivery a crucial aspect for logistics companies and suppliers. Resultantly, need for considerably reducing the delivery and fulfilment times in a thriving e-Commerce sector worldwide is driving the demand for technologies among stakeholders. End-use industries, including chemical, pharmaceuticals, healthcare, FMCG, and food and beverages, who increasingly focus on last mile delivery will be early adopters of new technologies. All these factors shape the trajectories of the last mile delivery transportation market, and will continue to shape new delivery models over the next 10 years.
During 2020–2030, the global last mile delivery transportation market is expected to clock CAGR of ~3%, and reach worth of ~US$ 400 bn by this period-end.
Analysts at Transparency Market Research note that during the assessment period, strides in robotics and the emphasis on adopting semi-autonomous and autonomous delivery vehicles will play an imperative role in redefining last mile delivery transportation.
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Key Findings of Last Mile Delivery Transportation Study
- Of all the cargo types being served by businesses in last mile delivery transportation market, dry good segments accounted for the major share
- Of various end users, the FMCG sector held the leading share in 2019; investments of FMCG companies on supply and distribution channels drive growth
- Of the various regions, Asia Pacific and North America are expected to be the key markets; rapid pace of industrialization and advances in road network transport key to their rapid expansion over assessment period
- Asia Pacific held the major share in global last mile delivery transportation market in 2019
Explore 257 pages of top-notch research, incisive insights, and detailed country-level projections. Gain business intelligence on Last Mile Delivery Transportation Market (Vehicle Type: Light Duty Vehicle, Medium Duty Vehicle, and Heavy Duty Vehicle; End Use: Chemical, Pharmaceuticals & Healthcare, Hi-tech Product Industry, FMCG, Food & Beverages, and Others; and Cargo Type: Dry Goods, Liquid Goods, and Postal Goods) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030 at https://www.transparencymarketresearch.com/last-mile-delivery-transportation-market.html
Last Mile Delivery Transportation Market: Key Driving Factors and Promising Avenues
The key driving force behind the rapidly expanding last mile delivery transportation market is veritably strides that e-commerce has been making over the years around the world. Retailers, suppliers, and logistics companies are intensively looking to harness new automation technologies to reduce the delivery time, and at less cost than before. Some of the factors and trends that complement the market growth can be listed as:
- Popularity Of E-Tailing: In recent years, the popularity of e-tailing has risen at remarkable pace among sellers and customers. The allure of fast delivery at the comforts of home among end consumers has stimulated logistics companies and retailers to work collaboratively to meet the various challenges of last mile delivery. This alone is a strong stimulus to the expansion of the last mile delivery transportation market.
- Urbanization Key Driver: Particularly in the developing world, sheer pace of urbanization has strongly spurred the penetration of e-commerce in numerous economies. This aside, players emphasize on improving inventory management systems and adopting autonomous and semi-autonomous vehicles.
- Industry 4.0 Impart Growth Momentum: Strides being made by Industry 4.0 are driving the deployment of robotics across sectors from production to delivery to final customers. As a result, players in the last mile delivery transportation market are automating global positioning system (GPS), dispatching communication systems, warehouse management systems, and transportation management systems (TMS)
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Last Mile Delivery Transportation Market: Region-wise Analysis
Among the various regions, North America and Europe has witnessed rapid technological advances in transportation and logistics pertaining to improving last mile delivery. The notable lucrativeness of the markets stem from the demand for minimizing delivery costs and also ensuring that customers have the delivery fulfilled at remarkable speed.
Meanwhile, Asia Pacific is expected to be the new center for vast revenue streams for players in last mile delivery market.
Analyze last mile delivery transportation market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a Sample of the Study
Key Challenges for Players in Last Mile Delivery Transportation Market
Emission guidelines also pose substantial challenge for logistics companies in the last mile delivery transportation market.
While some challenges have been there for a long time, a few are of recent nature. In the light of supply chain disruptions due to COVID-19 pandemic lockdowns across the world, last mile delivery transportation has been exposed to new challenges. Governments in several countries that are affected are doing their best to meet the spikes in demand. State-of-the art delivery technologies are being encouraged to meet the need for unprecedented high supplies of protective equipment and medical supplies in these times.
Logistic behemoths such as FedEx and DHL will increasingly look toward harnessing new delivery models to meet the customer expectations in upcoming years, opening new opportunities in last mile delivery transportation market.
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The Last Mile Delivery Transportation market is segmented on the basis of:
- Vehicle Type
- Light Duty Vehicle
- Medium Duty Vehicle
- Heavy Duty Vehicle
- End Use
- Pharmaceuticals & Healthcare
- Hi-tech Product Industry
- Food & Beverages
- Cargo Type
- Dry Goods
- Liquid Goods
- Postal Goods
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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