PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484669
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1484669
Market Overview
The global last-mile delivery market size stood at USD 32.2 billion in 2023, and it is expected to advance at a compound annual growth rate of 20.4% during 2024-2030, to reach USD 117.5 billion by 2030. The expansion can be attributed to the way consumers increasingly prefer omnichannel retailing, as well as a phenomenal rise in internet penetration in developing economies like India, Thailand, and Indonesia.
The only technology that can provide real-time object recognition and ensure reliable operation is AI and it is utilized in self-driving systems. One of the advantages of autonomous driving technology is that the cost of delivery is dramatically reduced. This sets the stage for more growth in e-commerce, which is expected to see an annual increase in the number of orders placed.
The development of new vehicle types and logistics structures is seen as likely to emerge along the forecast period to fight this paradigm shift. At present, there is a major role played by the automotive industry, through self-driving system optimization technology.
The modern transportation and logistics industry is facing critical problems and one of them is live tech, the internet of things is now seen as a part of many industries including and it is the key industry. to help companies meet the increasing requirements, technology is changing the last industry. To help companies meet their increasing needs, technology is changing the last mile, through providing real-time tracking during the delivery journey.
Key Insights
In 2023, the B2B category dominated the market with a 70% revenue share because of its benefits for online retailers.
Benefits like easy payments, quicker delivery, bulk discounts, and doorstep delivery.
Such advantages decrease management costs and advance effectiveness for businesses.
The B2C category is projected to advance faster, propelled by changing consumer behavior and augmented online retailing.
Development reasons such as organized retailing, omnichannel strategies, and increasing technical knowledge.
Worldwide e-commerce growth and augmented internet access fuel demand for logistic services.
Logistic businesses will be required to advance their abilities to attain remote customers efficiently.
The E-commerce category led with the largest share and is projected to witness fast growth at over 20.7% CAGR.
This development can be credited to increasing customer base, developing buying behavior, and high prospects for fast and free shipping.
Competitive pricing and demographic changes further drive e-commerce market expansion.
Organizations focusing on strategies to address demanding delivery schedules and logistics challenges.
APAC held the largest market share in 2023 due to its robust automotive industry, producing around 50 million vehicles annually.
North America will be the quickest growing region as it is the adoption location of advanced technology and also highly efficient at final delivery.
Online shopping and last-mile logistics in North America, mainly in the U.S. and Canada, the main markets in North America, flourish around 274 million online shoppers in the U.S. in 2023.
Digital platforms are paramount, no longer a luxury, but a necessity that allows small businesses to compete on the same global platform and enhances their services for suppliers and consumers.
The main consumer of these services in North America is the USA market with a compounded annual growth rate of approximately 20.7% for the need of personalized workflows and automation.
Although LAMEA market participation is significant, its growth is driven by the good economics in major LATAM states (Brazil and Mexico), better logistics, and streaming e-commerce.
Filing your order management routine is a certainty from last-mile delivery services to coordinate the order, to follow up, to manage the potential delay.