The global last-mile delivery market size was US$ 34,300 million in 2021. The global last-mile delivery market is forecast to grow to US$ 58,340 million by 2030 by growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2022 to 2030.
Factors Influencing the Market
Last-mile delivery is a term that depicts the transfer of goods from the transportation hub to their final destination. In the e-commerce sector, last-mile delivery has emerged as a crucial service for shippers and retailers worldwide. Thus, the booming e-commerce industry will drive the last-mile delivery market forward.
The benefits of last-mile delivery, such as fast delivery options and security and insurance of services, will surge the growth of the last-mile delivery market.
Growing urbanization and increasing demand for online shopping and courier facilities will escalate the growth of the last mile delivery market. Furthermore, the low charges of courier and shipment services will benefit the global last-mile delivery market.
Advanced facilities, such as precise order tracking and convenience will contribute to the growth of the global last-mile delivery market. Furthermore, the rapid shift of companies towards offering online services will also offer ample growth opportunities for the last-mile delivery market.
Partnerships between companies and other innovative strategies will surge the growth of the market. For instance, In November 2021, Farmstead, an online grocer and technology firm, inked a pact with national real estate companies and multiple national last-mile deliveries to develop the first end-to-end same-day e-commerce operations solution for grocers.
Technological advancements for the convenience of consumers will also benefit the global market. For instance, Logistics startup Shadowfax Technologies unveiled a new delivery SuperApp in 2021.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic surged the growth of online shopping platforms. People started ordering products of daily necessity online in order to stay safe. In addition, shopping malls and retail stores were also allowed to open for a limited time. To avoid chaos and long queues, online shopping helped people to a significant extent. Thus, all of these factors have also been beneficial for the last-mile delivery market.
Regional Analysis
Based on the regions, the last-mile delivery market is forecast to witness the highest growth in North America. It is due to the growing partnerships between industry players for shared delivery logistics. In addition, a steady expansion of warehouses and logistics are forecast to play an important role in the global last-mile delivery market. The Asia-Pacific last-mile delivery market is forecast to witness significant growth. It is due to the growing e-commerce sales and rising employment rate.
Competitors in the Market
Market Segmentation
The global last-mile delivery market segmentation focuses on Range, Business, Application, Vehicle, and Region.
By Range
By Business
By Application
By Vehicle Type
By Region
