Last Mile Delivery Market Size is Projected to Reach USD 66,000 Million by 2026 at CAGR 8.9% | Valuates Reports

BANGALORE, India, Dec. 15, 2020 /PRNewswire/ -- The Last Mile Delivery Market is Segmented by Type  (B2C, B2B, Others), Application (3C Products, Fresh Products, Others), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Mail & Package Delivery Category.

The global Last Mile Delivery market size is projected to reach USD 66,000 Million by 2026, from USD 39,570 Million in 2020, at a CAGR of 8.9% during 2021-2026.

Major factors driving the growth of the Last Mile  delivery market size, integration of advanced technologies into existing systems, rise in the consumers' demand for just-in-time delivery, Increase in internet penetration, and expansion of the e-commerce industry.

The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition.

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TRENDS INFLUENCING THE LAST MILE DELIVERY MARKET

Logistics and e-commerce companies are dealing with ways to be more effective in shipping goods and keeping their costs as low as possible. As a result, several logistics companies are emphasizing the production of creative technologies to minimize costs and automate Last Mile  distribution by using mobile robots, drones, and autonomous vehicle technology. This, in turn, is expected to drive the growth of the last mile delivery market size.

The rise in online orders has increased the demand for Last Mile delivery and has, in turn, contributed to the growth of many companies in this sector.  A significant number of customers are willing to pay additional charges for quick delivery, which has led to a rise in Last Mile  delivery market size.

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LAST MILE DELIVERY MARKET SHARE ANALYSIS

Based on the region, North America is expected to hold the largest Last Mile delivery market share. This dominance of North America is attributed to the continuous development in autonomous delivery robots and the increase in the preference of people to order online. A large amount of e-retail transactions and the growing number of consumers opting for quick and seamless delivery services are contributing to the growth of the last mile delivery market size in North America. In addition, several retailers have free returns and exchanges that fuel demand for reverse logistics in the last mile distribution model.

The Asia Pacific is projected to witness the highest growth during the forecast period. The region is home to major industries and car manufacturers. China and India are contributing to a rise in demand for Last Mile deliveries, as these countries have high exports and imports of products. In addition, the rise in digital purchasers through the internet has fueled the Last Mile  delivery market size in the Asia-Pacific region.

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LAST MILE DELIVERY MARKET SEGMENTATION

Last Mile  Delivery Market by Type, the Product can be split into

• B2C
• B2B

Last Mile  Delivery Market by Application, the Product can be split into

• 3C Products
• Fresh Products
• Others

Last Mile  Delivery Market by Regions/Countries, the Product can be split into

• North America
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America

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SIMILAR REPORTS :

-  Autonomous Last Mile  Delivery Market

The global autonomous Last Mile  delivery market size is expected to be valued at USD 11.90 Billion in 2021 and is projected to reach USD 84.72 Billion by 2030, registering a CAGR of 24.4%.

 Major factors driving the growth of Autonomous Last Mile  Delivery Market size are an increase in demand for the fast delivery of packages and a rise in technological advancements.

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In 2019, the global First and Last Mile Delivery market size was USD 335.3 Million, and it is expected to reach USD 592.4 Million by the end of 2026, with a CAGR of 8.4% during 2021-2026.

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XPO and FIDELITONE captured the top two revenue share spots in North America Last Mile  Delivery for Large Items market in 2018. XPO dominated with a 26.76% revenue share, followed by FIDELITONE with a 16.21% revenue share in 2018.

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In 2018, 50 lbs ≤ weight < 100 lbs accounted for a major share of 41% in the North America Last Mile Delivery for Large Items market. And this product segment is poised to reach 3256 M USD by 2024 from 1344 M USD in 2018.

In North America Last Mile Delivery for Large Items market, Home Appliances segment holds an important share in terms of application, and it is expected to reach 3859 M USD by 2024. It means that North America Last Mile Delivery for Large Items will be promising in the Home Appliances field in the next couple of years.

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