The global last mile delivery market size was valued at USD 40.5 Billion in 2021 and is anticipated to generate USD 123.7 Billion in 2030. The market is projected to grow at a CAGR of 13.21% during the forecast period (2022–2030). The Asia-Pacific region leads the market share at USD 15953 million in 2021 and is expected to reach USD 53539.78 million at a CAGR of 14.4% by 2030.
Consumers Reliance on the Faster and Easier Mode of Shipment Creates a Wide Range of Opportunities in the Global Last Mile Delivery Market
With the evolution of new technologies that perform better and faster, consumers’ expectations have gone up. Nowadays, consumers seek same-day delivery, for which they used to wait for 4-5 days. This rise in the consumers’ expectations has given a ray of hope for growth and improvement in the global last mile delivery market. Many leading retailers have been able to match the growing demands for delivering and fulfilling their consumer’s demand. Amazon is one of the global leaders in the e-Commerce space, has tried on global shipments, and attracted more customers with their smart and efficient international delivery. Amazon and such key players in the industry have opened new doors for emerging players to attract consumers by offering time-bounded delivery options and growing in the global last mile delivery market.
Many leading e-Commerce companies establish e-Commerce fulfillment networks to offer their consumers new and exciting shipping offers with hassle-free returns and exchange policies. Even some key retailers in the global market are trying to upgrade logistics infrastructure to match their consumer’s expectations and deliver quickly within a stipulated time frame. Major key players in the global last mile delivery market are innovating on their logistics and inventories to reduce their shipping costs and serve their end consumers with better service.
|Market Size||USD 123 Billion by 2030|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Industry Type, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, LAME and Rest of the World|
|Key Companies Profiled/Vendors||Walmart Inc, Ryder System Inc, Target Corporation, Amazon Inc, Seko Logistics, XPO Logistics|
|Key Market Opportunities||Consumers’ Reliance on Faster and Easier Modes of Shipment Delivery Creates Wide Opportunities in the Global Market|
|Key Market Drivers||Growing Popularity of e-Commerce platforms Enhancing Delivery Services
Door To Door Delivery Options Boosting Last Mile Delivery Market
Impact of Covid-19 on the Global Last Mile Delivery Market
The global last mile delivery market has seen noteworthy growth in the revenue generated with a sudden rise in delivery services during the pandemic. The Covid-19 outbreak proved to be a business booster for the global last mile delivery market, as only the delivery services were in action during the entire lockdown measures. However, the imposed lockdown created a disruption in the global supply chain, which narrowed down the merchandise trade growth in logistics industry.
The growth of the e-Commerce industry has led the delivery services market to new heights even in the most difficult times when people were house arrested by force. According to reports, the e-Commerce sector has achieved growth of about 30% in the first and second quadrant of the year 2020. The only positive thing the covid-19 pandemic did was to the e-Commerce industry as they generated a lot of revenue through the online selling portals and gained the trust of the consumers by delivering their goods safely to their doorstep.