Global Last Mile Delivery Market: Latest Global Insights, Growth Factors, Challenges and Industry Trends 2020-2026

 Infinium Global Research’s recent report on the “Last Mile Delivery Market By service type (Business-to-Business (B2B), Business-to-Consumer (B2C ), and Customer-to-Customer (C2C)), By Vehicle type (motorcycle, light commercial vehicle, heavy commercial vehicle, and drones) and By End-Users (retail, groceries, food, mails, and packages): Global Industry Analysis, Trends, Size, Share and Forecasts upto 2026” provides a comprehensive outline of the factors responsible for the growth of the market. Last mile delivery market to grow with a CAGR of 7.6% over the forecast years.

"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2020-2026." 

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The transfer of goods from a distribution center to the end-user which is typically the last destination for delivery is known as the last mile delivery. Last mile logistics is the final step in the process of delivering goods from a distribution center or facility to the end-user. Consumer behaviours and expectations are redefining the last-mile experience. Last mile logistics allow shippers to get more products to consumers faster and cost-effectively. Adoption of new technologies such as AI, blockchain are revolutionising the last-mile industry. The last mile delivery solution manages transactions between four stakeholders such as merchants, logistics vendors, locker companies, and consumers. Last mile delivery allows both consumers and suppliers to keep track of shipments more easily. In last mile delivery smart technology and sensors enable consumers and shippers to track the deliveries via SMS alerts, emails and even Google notifications.

Furthermore, as measures to control the outbreak of coronavirus are imposed by the governments, the demand for last mile delivery has momentarily increased in the urban areas.  Additionally, the recent outbreak is also creating supply disruptions in the market. The end-users have become health and safety conscious and taking proactive steps to meet the customers’ needs is the considering factor for last mile delivery market. Moreover, technological advancement and live tracking gives companies the possibility of easily responding to customer requests while adhering to high-quality standards. In addition, increased demand and changing delivery method to maintain customer’s safety is driving the market during pandemic.

B2C Segment Holds the Largest Market Share in Last Mile Delivery

Ecommerce has suddenly become the prime sales channel due to sudden crisis of COVID-19 and retailers are looking for creative solutions to meet consumer demand for essential and nonessential goods. Moreover, the organizations have started considering an on-demand delivery model as they have realized the market need to provide last-mile connectivity to consumers. Big players in last mile delivery such as Amazon and Alibaba are continuously changing the pace of the e-commerce landscape by offering a variety of options.

Furthermore, growing adoption of autonomous and self-driving vehicles by major key players resulting reduced human involvement and maintains operational efficiency. Furthermore, Companies that are currently delivering essential goods owing to surge in orders and an increase in tight delivery turnaround are practically expected to increase the demand of last mile delivery.

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Asia Pacific to be the Dominant Region in Last Mile Delivery Market

In terms of geography, Asia Pacific generated the largest revenue in Last mile delivery market in 2019 and is expected to continue its dominance over the forecast years. Growing population, availability of major industries and rising demand from retail sector will increase demand for Last mile delivery market in Asia Pacific region. China and India contribute to the increase in demand for last-mile delivery. Furthermore, the region will offer several growth opportunities to market vendors during the outbreak of COVID-19 due to high demand for on time delivery of food and essential groceries.

Companies Operating in Last Mile Delivery Services Keep Up with the Demand Due to Amidst COVID-19

The last mile delivery market is highly fragmented due to the presence of several companies, and the competitive dynamics in the market is anticipated to change during the coming years. Further, the companies will be able to create a truly advanced end-to-end delivery platform, reducing fulfilment costs although delivering a top-notch experience. Logistics is becoming important for many companies owing to rapid industrialization and rising customer demand for quick delivery.

In addition, the last mile logistics service provider companies also enter into a partnership with technology companies to ensure secure, assured, and timely delivery.  Competitive dynamics are also changing owing to rapid evolution of technology in the sector. Infinium Global Research’s recent report on the global Last mile delivery Market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments the global market.

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