Last mile delivery market: APAC held a 40% share in 2022, B2C segment to grow at the highest rate - Technavio
NEW YORK, Dec. 1, 2022 /PRNewswire/ -- The last mile delivery market size is estimated to grow by USD 165.6 billion. The growth momentum of the market will accelerate at a CAGR of 15.62% during the forecast period according to Technavio. APAC held a 40% share of the global last mile delivery market in 2022. The market in the region is estimated to grow at the fastest pace during the forecast period. The thriving e-commerce industry and the establishment of global production networks by large manufacturers will facilitate the last mile delivery market growth in APAC over the forecast period.
Technavio has segmented the last mile delivery market based on Service (B2C and B2B), Application (FMCG, e-commerce, retail, and others), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market.
The B2C segment will grow at the highest rate during the forecast period. Vendors operating in this segment are heavily investing in big data and consumer analytics to improve delivery times and enhance the consumer experience. They are utilizing the historical purchase data of consumers to dispatch forward inventory. This is helping them in reducing the time required to deliver products to customers by cutting down a considerable amount of time in pre-last mile logistics. Such developments among vendors are fostering the growth of the B2C segment.
The growing global e-commerce industry is one of the factors driving the last mile delivery market growth.
The e-commerce industry is growing rapidly in both developing and developed countries. For instance, e-commerce retail sales in the US increased by 39% in Q1 2021 compared to that in Q1 2020.
The increasing penetration of the internet and the growing trend of online shopping among consumers globally have significantly contributed to the growth of the B2C e-commerce industry across the world.
The growth of the e-commerce industry is encouraging many retailers and manufacturers to expand and invest in online sales channels. This is increasing the demand for last mile delivery services, thereby driving the growth of the market.
Leading trends influencing the market
The strong focus on technological advances is one of the key last mile delivery market trends fueling the market growth.
Delivery service providers are leveraging advanced technologies to efficiently manage orders and provide more convenience to customers. For instance, last mile delivery service providers are adopting big data analytics to come up with an optimum delivery route by using GPS and traffic data to make timely deliveries.
Some prominent e-commerce players such as Alibaba and JD.com, Inc. are actively investing in driverless technologies. Many such technological advances among vendors are expected to positively influence the growth of the global last mile delivery market during the forecast period.
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others. Buy the Report
What are the key data covered in this last mile delivery market report?
CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the last mile delivery market between 2022 and 2026
Precise estimation of the size of the last mile delivery market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the last mile delivery market industry across APAC, North America, Europe, Middle East and Africa, and South America
Thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of last mile delivery market vendors
The road freight transport market share in Colombia is expected to increase by USD 1.30 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.58%. The need to increase operational efficiency is notably driving the road freight transport market growth in Colombia, although factors such as high operational costs and competitive pricing may impede the market growth.
The refrigerated transportation market share in US is expected to increase by USD 9.00 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.88%. The growing end-user segments is notably driving the refrigerated transportation market growth in US, although factors such as fluctuations in fuel prices may impede the market growth.
Last Mile Delivery Market Scope
Report Coverage
Details
Page number
169
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 15.62%
Market growth 2023-2027
USD 165.6 billion
Market structure
Fragmented
YoY growth (%)
13.79
Regional analysis
APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution
APAC at 40%
Key countries
US, China, India, Germany, and France
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
C.H. Robinson Worldwide Inc., CEVA Logistics AG, CRST The Transportation Solution Inc., DB Schenker, Deutsche Post AG, DSV Panalpina AS, FedEx Corp., J.B. Hunt Transport Services Inc., Kerry Logistics Network Ltd., Kuehne Nagel Management AG, LaserShip Inc., Nippon Express Holdings Inc., Postmates Inc, Royal Mail Plc, TForce Logistics, TNT Holdings BV, United Parcel Service Inc., United States Postal Service, and Werner Enterprises Inc.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of contents:
1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary ? Chart on Market Overview
Exhibit 02: Executive Summary ? Data Table on Market Overview
Exhibit 03: Executive Summary ? Chart on Global Market Characteristics
Exhibit 04: Executive Summary ? Chart on Market by Geography
Exhibit 05: Executive Summary ? Chart on Market Segmentation by Service
Exhibit 06: Executive Summary ? Chart on Market Segmentation by Application
Exhibit 07: Executive Summary ? Chart on Incremental Growth
Exhibit 08: Executive Summary ? Data Table on Incremental Growth
Exhibit 09: Executive Summary ? Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
4.1 Global last mile delivery market 2017 - 2021
Exhibit 18: Historic Market Size ? Data Table on Global last mile delivery market 2017 - 2021 ($ billion)
Exhibit 153: Nippon Express Holdings Inc. - Overview
Exhibit 154: Nippon Express Holdings Inc. - Business segments
Exhibit 155: Nippon Express Holdings Inc. - Key offerings
Exhibit 156: Nippon Express Holdings Inc. - Segment focus
12.13 TNT Holdings BV
Exhibit 157: TNT Holdings BV - Overview
Exhibit 158: TNT Holdings BV - Product / Service
Exhibit 159: TNT Holdings BV - Key offerings
12.14 United Parcel Service Inc.
Exhibit 160: United Parcel Service Inc. - Overview
Exhibit 161: United Parcel Service Inc. - Business segments
Exhibit 162: United Parcel Service Inc. - Key offerings
Exhibit 163: United Parcel Service Inc. - Segment focus
12.15 United States Postal Service
Exhibit 164: United States Postal Service - Overview
Exhibit 165: United States Postal Service - Business segments
Exhibit 166: United States Postal Service - Key offerings
Exhibit 167: United States Postal Service - Segment focus
12.16 Werner Enterprises Inc.
Exhibit 168: Werner Enterprises Inc. - Overview
Exhibit 169: Werner Enterprises Inc. - Business segments
Exhibit 170: Werner Enterprises Inc. - Key offerings
Exhibit 171: Werner Enterprises Inc. - Segment focus
12.17 XPO Logistics Inc.
Exhibit 172: XPO Logistics Inc. - Overview
Exhibit 173: XPO Logistics Inc. - Business segments
Exhibit 174: XPO Logistics Inc. - Key offerings
Exhibit 175: XPO Logistics Inc. - Segment focus
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 176: Inclusions checklist
Exhibit 177: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 178: Currency conversion rates for US$
13.4 Research methodology
Exhibit 179: Research methodology
Exhibit 180: Validation techniques employed for market sizing
Exhibit 181: Information sources
13.5 List of abbreviations
Exhibit 182: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
The "Aircraft Brake System Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The aircraft brake system market is witnessing a robust growth phase, projected to escalate from $9.64 billion in 2023 to an...
SunCar Technology Group Inc. (the "Company" or "SunCar") , an innovative leader in cloud-based B2B auto services and auto e-insurance in China, will announce its financial results for Fiscal Year 2023 on Monday, April 29th before the market opens....
GAC has wrapped up its 2024 International Global Distributor Conference with resounding success. Themed "Quality Leads Our Way Forward," the event convened over 160 attendees from 41 countries and regions, setting the stage for strategic planning and...
JetBlue today announced Blueprint by JetBluetm, a personalized inflight experience platform that will provide customers with more customizability across their travel journey, beginning with new inflight entertainment features, some of which have...
Battery materials pioneer Wildcat Discovery Technologies today announced it received its 100th patent, reinforcing its industry-leading innovation and advancing its strategy for U.S.-based cathode materials manufacturing....