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How Will the CAGR of the Last Mile Delivery Market Influence Its Overall Growth by 2034?

In recent times, there has been a tremendous escalation in the size of the last mile delivery market. It is expected to increase from $178.92 billion in 2024 to $202.01 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. The substantial growth experienced in the preceding years is as a result of e-commerce expansion, transition to same-day deliveries, investment in delivery structures, environmental considerations and alterations in regulations.

The final leg delivery market is anticipated to experience substantial expansion in the immediate future. By 2029, it is projected to reach a value of $324.48 billion, exhibiting a compound annual growth rate (CAGR) of 12.6%. This growth during the forecast period can be accredited to the progression in self-governing delivery, stronger demand for green delivery solutions, end-mile analytics, and the scaling up of city logistics solutions. Key trends for the forecast period encompass on-demand delivery, non-contact delivery alternatives, growth of metropolitan logistics solutions, end-mile automation, and the application of data analytics for route maximization.

What Drivers Are Shaping the Growth of the Last Mile Delivery Market?

The swift rise of e-commerce is predicted to fuel the expansion of the last mile delivery market in the future. E-commerce is a term that describes the act of purchasing and selling goods or services through the Internet or other electronic platforms. The ongoing surge in e-commerce utilization can be attributed to various factors such as technological advancement, shifting consumer habits, and developing business models across the globe. Last mile delivery in the e-commerce sector is critical for the successful, timely, and cost-effective delivery of items to consumer’s premises, denoting the final stage of the delivery cycle. It is crucial in boosting customer satisfaction and building brand devotion in e-commerce businesses. For instance, the United States Census Bureau, a government agency in the US, reported that e-commerce sales hiked to an estimated $1,118.7 billion in 2023 in the United States, recording a 7.6% rise compared to the previous year in February 2024. Consequently, the fast-paced growth of e-commerce is the primary driver for the expansion of the last mile delivery market.

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Who Are the Leading Companies Pioneering Change in the Last Mile Delivery Market?

Major companies operating in the last mile delivery market are:

• Amazon.com Inc._x000D_

• United Parcel Service Inc._x000D_

• DHL International GmbH_x000D_

• FedEx Corporation_x000D_

• La Poste Group_x000D_

What Are the Most Significant Trends Transforming the Last Mile Delivery Market Today?

Significant players in the last mile delivery market are prioritizing the creation of technology-driven cold chain services for last mile deliveries to boost performance and guarantee the secure transport of perishable items. These cold chain solutions are tailor-made logistics infrastructure and procedures designed to maintain a certain temperature range during the transportation of perishable goods from distribution locations or stations to their final destination. For example, in September 2022, Celcius Logistics, a company offering logistics and supply chain solutions based in India, unveiled its intelligent last mile delivery platform to tackle the issues inherent in last-mile delivery of perishable items. This groundbreaking platform is a technology-powered cold chain service designed for last mile delivery, designed to recognize and scrutinize distribution shortcomings, utilize predictive algorithms to eradicate possible risk factors, minimize slowdowns, accelerate estimated time of arrivals (ETAs), and offer shippers complete transparency of their goods from inception to completion. Through this platform, Celcius intends to create a nationwide network of last-mile vehicles and storage points to improve the productivity of primary and secondary transportation and storage of perishable products.

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Which Key Segments Define the Structure of the Last Mile Delivery Market and Their Growth Potential?

The last mile delivery market covered in this report is segmented –

1) By Delivery Mode: Regular Delivery, Same-Day Delivery Or Express Delivery

2) By Technology: Autonomous, Non-autonomous

3) By Service Type: Business-To-Business (B2B), Business-To-Consumer (B2C), Customer-To-Customer (C2C)

4) By Destination: Domestic, International

5) By Application: Food And Beverages, Retail And E-commerce, Healthcare, Other Applications

Subsegments:

1) By Regular Delivery: Standard Delivery, Scheduled Delivery

2) By Same-Day Delivery Or Express Delivery: Morning Delivery, Afternoon Delivery, Or 1-Hour Delivery, 2-Hour Delivery, 3-Hour Delivery

Which Regions Are Leading the Charge in Last Mile Delivery Market Development?

North America was the largest region in the last mile delivery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the last mile delivery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is the Scope and Reach of the Last Mile Delivery Market Defined?

Last mile delivery refers to the final stage of the logistics process where goods are transported from a distribution center, warehouse, or retailer’s location to the end customer’s doorstep or preferred delivery location. This service is essential for ensuring that products reach customers in a timely, efficient, and satisfactory manner, meeting their expectations for convenience and reliability.

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