Global Last Mile in E-commerce Delivery Market Expected to Surpass $120 Billion by 2030, Reports MarkWide Research
According to a new report published by MarkWide Research, titled, “Global Last Mile in E-commerce Delivery Market,” the worldwide last mile delivery market in e-commerce is poised for significant growth, with a projected market value exceeding $120 billion by the year 2030. This substantial expansion is driven by the exponential rise of online shopping, customer demand for faster and more convenient delivery options, and innovations in last mile logistics.
Market Overview:
The last mile in e-commerce delivery refers to the final leg of the delivery journey, where products are transported from a distribution center or local hub to the customer’s doorstep. It is a critical component of the e-commerce supply chain and a focal point for enhancing customer satisfaction.
Key Market Insights:
- E-commerce Boom: The primary driver of the last mile in e-commerce delivery market is the explosive growth of online shopping, particularly during the COVID-19 pandemic, leading to a surge in delivery demands.
- Customer Expectations: The market benefits from customer expectations for speedy, convenient, and real-time tracking of deliveries, prompting e-commerce retailers and logistics providers to invest in innovative solutions.
- Sustainability: Sustainability is becoming a key factor in last mile logistics, with an increasing emphasis on eco-friendly delivery methods, such as electric vehicles and route optimization.
Market Forecast and Growth Prospects:
The global last mile in e-commerce delivery market is expected to demonstrate substantial growth, with a projected CAGR of over 8% during the forecast period, 2023-2030. The market, valued at approximately $60 billion in 2022, is anticipated to surpass $120 billion by 2030. This growth trajectory is driven by the continuous expansion of e-commerce, the need for efficient last mile solutions, and the integration of technology for improved delivery experiences.
Challenges and Opportunities:
Challenges in the last mile in e-commerce delivery market include addressing the pressure on delivery speed, managing traffic congestion in urban areas, and ensuring cost-effective delivery methods. Opportunities lie in adopting automation and robotics for last mile delivery, enhancing route optimization algorithms, and promoting sustainable and eco-friendly delivery practices.
Regional Analysis:
- North America: North America, particularly the United States, is expected to lead the last mile in e-commerce delivery market, given its mature e-commerce sector and the adoption of technology-driven solutions.
- Europe: Europe represents another significant market, with a focus on sustainable logistics practices, urban delivery solutions, and customer-centric delivery experiences.
- Asia-Pacific: The Asia-Pacific region, including China and India, is witnessing rapid e-commerce growth and significant investments in last mile logistics infrastructure.
Competitive Landscape:
Prominent players in the global last mile in e-commerce delivery market include Amazon.com, Inc., FedEx Corporation, and United Parcel Service, Inc. (UPS), among others. These companies are investing in advanced delivery technologies, such as drones, autonomous vehicles, and smart delivery lockers.
Conclusion:
The global last mile in e-commerce delivery market is on a trajectory of substantial growth, driven by the surge in online shopping, evolving customer expectations, and the pursuit of efficient and sustainable last mile logistics. With a focus on speed, convenience, and environmental responsibility, last mile delivery solutions continue to play a pivotal role in shaping the future of e-commerce.