Wilmington, Delaware, United States, June 15, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global last mile delivery transportation market was valued at US$ 191.4 Bn in 2022 and expand at a CAGR of 4.8% from 2023 to 2031 to reach US$ 291.9 Bn by 2031.
E-commerce companies are investing significantly in strengthening their last mile delivery transportation to cater to changing consumer demand for faster and safe delivery of goods. Increase in focus of logistics service providers on offering value-added services in last mile delivery, such as one-day/same-day delivery, is anticipated to bolster market development in the next few years.
Steady adoption of third-party logistics (3PL) services in last mile delivery transportation is creating lucrative opportunities for companies in the market. For instance, 3PL logistics companies are offering route optimization and real-time tracking solutions in order to meet the requirements of e-commerce companies.
Rapid advancements in infrastructure used in fourth-party logistics and fifth-party logistics is expected to offer lucrative business opportunities in the next few years. Significant investments have been made in warehousing technologies by prominent e-commerce companies in the past few years, which has spurred market development. For instance, Amazon increased investment in micro-fulfilment centers or facilities.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 191.4 Bn | |
| Estimated Value | US$ 291.9 Mn | |
| Growth Rate - CAGR | 4.8% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 175 Pages | |
| Market Segmentation | Vehicle Type, Solution, End-use Industry, Propulsion, Cargo Type, Ownership, Service Type, Delivery Time, Cargo Size | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | 5Pl Logistics Solutions, Amazon, Cargo Carriers Limited, CJ Logistics Corporation, Darkstore, DB SCHENKER, DHL Global Forwarding, FedEx Corporation, J&J Global Limited, Uber, Instacart, Doordash, Hitch, KART, Kerry Logistics Network Limited, Kintetsu World Express, KUEHNE + NAGEL, Logistics Plus, Nippon Express Co., Ltd., Postmates, Shiphawk, Swift Transport, United Parcel Service Inc., USPS, XPO Logistics, Inc., Walmart, Onfleet, Nuro, Starship Technologies, Matternet, PiggyBee, Other Key Players, Other Start-upsMarine AS, Nichols Brothers Boat Builders, Piriou, Ranger Tugs, Robert Allan Ltd., Sanmar Denizcilik AS, Sembcorp Marine, The Great Lakes Towing Company, Tsuji Heavy Industries, Uzmar Shipbuilding and Trade Inc., Vard Group, Other Key Players | |
Key Findings of Study
- Rapid Increase in Trend of In-house Logistics Ownership: Recent market trends indicate a significant shift from usage of outsourced logistic services toward in-house logistics ownership, especially by some large e-commerce companies.
- Rise in preference for in-house logistics in the last mile delivery transportation market is ascribed to inclination of e-commerce companies toward greater control over supply chain. Considerable demand for smart last mile delivery transportation is likely to strengthen utilization of robots and drones and autonomous transportation.
- Surge in Adoption of Eco-friendly Last Mile Delivery Transportation: Rise in demand for sustainable last mile delivery is a key trend expected to offer significant opportunities for market players. Increase in adoption of electric vehicles and bicycle couriers is anticipated to fuel market growth in the next few years.
- Surge in need to reduce carbon emissions of supply & logistics of e-commerce companies is anticipated to drive usage of environmental-friendly transportation.
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Key Growth Drivers of Last Mile Delivery Transportation Market
- Rise in demand for speedy delivery of goods in the e-commerce sector is anticipated to strengthen technological advancements in the last mile delivery transportation industry. Rapid expansion of the e-commerce industry in developing and developed countries is a key driver of the last mile delivery transportation market.
- Rapid pace of organized urbanization and steady increase in spending capacity/purchasing power of the middle-class population in several countries across the globe are expected to broaden market outlook.
Regional Growth Dynamics
The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. Surge in urbanization, accelerated by significant rural to urban migration, in developing countries especially in Asia is a key factor fueling market development in the region.
Growth of the megacities in the region is anticipated to propel utilization of smart last mile delivery transportation for meeting daily needs of household products of consumers. Continuous adoption of advanced tracking technologies such as real-time tracking of packaging in food and grocery delivery presents significant business opportunities for companies in Asia Pacific. Increase in trend of online shopping is likely to augment market size in the region in the next few years.
Competition Landscape
The business landscape of the last mile delivery transportation industry is characterized by high degree of competition due to presence of a large number of companies. Leading players are focusing on collaborations and mergers & acquisitions in order to increase market share.
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Prominent companies operating in the last mile delivery transportation market are
- 5Pl Logistics Solutions
- Amazon
- Cargo Carriers Limited
- CJ Logistics Corporation
- Darkstore
- DB SCHENKER
- DHL Global Forwarding
- FedEx Corporation
- J&J Global Limited
- Uber
- Intacart
- Hitch
- Kart
- Logistics Plus
- Nippon Express Co. Ltd.
- Swift Transport
- USPS
- XPO Logistics, Inc.
- Walmart
- Nuro
- PiggyBee
Last Mile Delivery Transportation Market Segmentation
The last mile delivery transportation Market is segmented based on
Vehicle Type
- Cargo Bike
- Two Wheeler Bike
- Drone
- Robot
- AGV
- Van
- Light Duty Vehicle
- Medium & Heavy Duty Vehicle
Solution
- Real-time Tracking
- Automated Planning & Optimization
- Electronic Proof of Delivery
- Dynamics Re-routing
- Hardware Agnostic Platform
- Real Time ETA Calculation
- Interactive Planning Dashboard
- Delivery Route Planning Visualization
- Others
End-use Industry
- Food Delivery
- FMCG Products Delivery
- Health Products Delivery
- Postal Delivery
- Automotive Products Delivery
- Apparel Industry
- Electronics Products Delivery
- Other E-commerce Products Delivery
- Others
Propulsion
- Electric Delivery Vehicles
- ICE Delivery Vehicle
Cargo Type
- Perishable Goods
- Non-perishable Goods
Ownership
- In-house Logistics
- Second Party Logistics (2PL)
- Third Party Logistics (3PL)
- Fourth Party Logistics (4PL)
- Fifth Party Logistics (5PL)
Service Type
- Business-to-Business
- Business-to-Consumer
- Customer-to-Customer
Delivery Type
- Express Delivery
- Same Day Delivery
- Two+ Days Delivery
Cargo Size
- Big & Bulky
- Regular
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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