Global Last Mile Logistics Market Size, Trends, and Growth Opportunity By Technology (Drones, Autonomous Vehicles, Semi-Autonomous vehicles, Droids, Others), By Types (Business to Business, Business to Consumer), By Application (3C Products, Fresh Products, Others), Regional Outlook, Competitive Market Share, & Forecast till 2022–2027.
Global Last Mile Logistics Market
The Global Last Mile Logistics Market was valued at USD 40.7 billion in 2021 and is expected to reach USD 120.2 billion by 2027, at a CAGR of 18.92% from 2022–2027.
Last-mile logistics, also known as last-mile delivery, refers to the transport of products, goods, and services from the point of origin to a destination, i.e., the customer's doorstep. The importance of it lies in the savings produced when delivering packages in an efficient and optimized way. This term is mostly used in the contexts of food delivery, enterprise supply chains, and transport for delivery businesses. The last mile logistics begins as soon as a customer place an order. The brand and logistics provider gather and prepare the order for delivery and then deliver it to the consumer using the method chosen.
Market Drivers
Rising penetration of the internet and expansion of e-commerce is the key driving factor which is expected to propel the global last mile logistics market growth. Also, continuous technological advancements in many sectors including automotive, and transpiration shall have a positive impact on market growth. Moreover, growing globalisation will also drive market growth during this forecast period. Additionally, adoption of new technologies, logistic methods, and innovative vehicles will boost market growth.
Market Restraints
The increase in cost of operation due to high fuel prices is the major restraining factor expected to hinder the global last mile logistics market's growth. Also, road congestion in urban and developed areas will affect market growth in the future.
Market Segmentation
The Global Last Mile Logistics Market is segmented into technology, type, application, and region.
Based on application, the Global Last Mile Logistics Market is segmented into 3C Products, Fresh Products, and Others.
Regional Analysis
Global Last Mile Logistics Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The APAC region is leading the way in market share and is expected to dominate the Global Last Mile Logistics Market in near future.
Market Key Players
Various key players are discussed in Global Last Mile Logistics Market Report, including: CEVA Logistics AG, DB Schenker, DHL, DSV A/S, FedEx Corporation, GEODIS, Nippon Express Co., Ltd., XPO Logistics, Inc., United Parcel Service, Inc., Walmart Inc., and Others.
Market Taxonomy
By Technology
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