Last Mile Delivery Market size was valued at USD 132.62 Billion in 2022 and is poised to grow from USD 144 Billion in 2023 to USD 276.36 Billion by 2031, at a CAGR of 8.5% during the forecast period (2024-2031).
Last mile delivery management is an essential component that defines the success of consumer products, e-commerce businesses, or retail. In the recent past, major investments have been observed to enhancing applications that aid advanced analytics and artificial intelligence competencies. Several leading companies are actively investing in better operations of delivery robots that not only help them in their warehouses, but also support overall operations. Hence, growing investments and improvements are propelling the growth of the last mile delivery market.
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Top Player’s Company Profiles
- Amazon Logistics (US)
- DHL Express (Germany)
- FedEx (US)
- UPS (US)
- United States Postal Service (USPS) (US)
- China Post (China)
- JD Logistics (China)
- Alibaba Cainiao (China)
- XPO Logistics (US)
- DPD Group (France)
- SF Express (China)
- Delhivery (India)
- Uber (Postmates) (US)
- Instacart (US)
- Hermes (Germany)
- Blue Dart (India)
- Yodel (UK)
- Gojek (Indonesia)
- Grab (Singapore)
- Lalamove (Hong Kong)
- DoorDash (US)
- ZTO Express (China)
- Sendle (Australia)
- Ninja Van (Singapore)
Businesses that manage huge quantities of logistics will witness escalated adoption of generative AI to optimize resources and improve deliveries. Currently, nearly 55%companiesconfirmed that their companies are already incorporated with modern AI technologies to smoothen their daily operations. Businesses can use generative AI to predict disruptions in the supply chain. Technology also helps to foresee the possibility of carriages and study the reasons for unmet needs. Generative AI offers exhaustive solutions for logistics to simplify complicated operations. It can also create comprehensive delivery reports and unique logistics operation reports. Companies can hence become more responsive and adaptive to deal with barriers in the transforming logistics scenario by utilizing generative AI.
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Segments covered
Type
B2B (Business-To-Business), B2C (Business-To-Consumer), C2C (Customer-To-Customer)
Technology
Autonomous and Non-Autonomous
Application
Food & Beverages, Retail & E-Commerce, Healthcare and Others
Market Players to Plan Genuine and Achievable Promises for Faster Deliveries
People are increasingly demanding services like next-day delivery or same-day deliveries. This demand is increasing with nearly 78%of consumers across the globe shifting towards this trend and prioritizing two-day deliveries while buying online goods. If these expectations are not met, it may lead to the loss of consumers. Research has discovered that nearly half of consumers will empty their e-shopping carts if delivery time takes too long. To ensure that delivery service matches the growing consumer needs, companies must decide on attainable and realistic objectives. For instance, micro-fulfillment hubs are transforming processing and faster dispatch of consumer products. If deployed in highly populated areas, these hubs can better reduce delivery time by including a bigger stock of commonly demanded products. Also, by adopting reliable route planners, companies can simplify their hipping process. Such tools offer precision and quick ETA data for consumers.
In January 2023, FedEx Express, a key part of FedEx Corporation is installing nearly 30 electric delivery automobiles in Delhi as its objective to obtain carbon-neural operations on a global scale by 2040.
In May 2022, Onfleet to join hands with When I Work and Zapier to increase last-mile delivery service for its clients by removing the boring and monotonous manual jobs from daily operations.
In November 2023, UPS is presenting its Hyperlocal delivery solution to offer customers the selection of fast next-day delivery choices. This shift was declared by the CEO of UPS, Carol Tomé in an analyst meeting.
In April 2024, DHL is ready to expand its out-of-home delivery competencies by adding nearly 1,000 fresh parcel lockers in 2024 in Sweden. This strategy is essentially targeted for metropolitan cities and will be attained by white-label service offered by iBoxen, their partner.
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Growing with Trends Will Help Businesses Satisfy Ever-Increasing Demands from Consumers
The last mile delivery market is maturing with improvements in technologies and the growing need to cater to the growing demands and expectations. The 3PLs, shippers, and couriers are projected to keep up with the recent trends in the market for better success of their services and reputation. These trends are propelled by innovations and improvements, and shifting consumer needs and demands. Hence, businesses should operate with these changing trends so that they smoothly respond to the growing consumer desires in 2025.
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