First and Last Mile Delivery Market Size worth $ 288.38 Billion by 2031 | CAGR: 6.12% - TMR Study

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Aug 23, 2022, 21:30 ET

Companies lean on technology integration for automated supply chain; collaborations and strategic partnerships to spur adoption of automation solutions in end-use industries, especially in warehouses and logistics services
Widespread demand for light duty vehicles in first and last mile delivery market to steer revenue growth; Asia Pacific witnessing massive profitable avenues

WILMINGTON, Del., Aug. 24, 2022 /PRNewswire/ -- Growing adoption of slew of automation technologies for supply chain has generated lucrative opportunities for service providers in the first and last mile delivery market. Of note, logistics firms are gearing toward leveraging artificial intelligence, drones, and robotics in warehousing to gain substantial efficiencies in supply chain, in terms of both cost and time. The first and last mile delivery market is forecast to advance at a CAGR of 6.12% from 2022 to 2031.

Emergence of third-party logistics (3PL) service providers has broadened the canvas for players to capture value, thus will enable them grow their first and last mile delivery market shares during the forecast period. Advancements in first and last mile deliveries of products in the food & beverages industry are reinforcing improvements in food supply chain around the world. The trend has augmented the first and last mile delivery market size.

Top last mile delivery companies are keen on bridging the gap between the first and last mile deliveries by reducing the need for middle mile logistics, which broadened the scope of new technology integrations across the supply chain. In developing countries, rise in transportation of commodities is creating potentially lucrative opportunities for players, notably 3PL companies, thus boosting first and last mile delivery market prospects.

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Key Findings of First and Last Mile Delivery Market Study

Adoption of Automation Technologies for Warehouses and Logistics Services Generating Revenues: Widespread need for continuous automation of supply chains in various industries has led to technological advancements in warehouse and logistics solutions. Growing uptake of next-gen automation solutions in various industries is propelling revenue generation in first and last mile delivery market. Suppliers and retailers are keen on optimizing last mile deliveries, thereby enriching the entire value chain for market players.
Light Duty Vehicles Widely Used for Faster and Cost-effective Delivery: Light duty vehicles have emerged as the popular transport medium, especially for FMCG and food products. Their adoption is anchored in the need for making last mile deliveries fast, economical, and environmentally sustainable. Furthermore, need for sustainable transport solutions around the world underpins abundant opportunities. Of note, the FMCG industry held the leading share of the first and last mile delivery market in 2021.

First and Last Mile Delivery Market: Key Drivers

Continuous digitization of processes in the retail industry, coupled with rise in transport of commodities in various countries and internationally, is a key driver for adoption of new technologies in first and last mile delivery market.
Steadily rising e-commerce globally is a key driver for efficient and cost-effective first and last mile delivery services. In recent decades, growth in the e-commerce sector has propelled mainly by rise in online shopping.

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First and Last Mile Delivery Market: Regional Growth Dynamics

Asia Pacific held a major first and last mile delivery market share globally in 2021, and is estimated to be remain remarkably lucrative during the forecast period. The regional market has witnessed rising demand for first mile logistics software that can be used for obtaining complete visibility over the supply chain.
Massive need for warehouse and logistics automation pivots enormous profitable avenues in the Asia Pacific first and last mile delivery market. Evolving e-commerce trends notably on the back of changing online shopping habits of consumers will open up new frontiers in the near future.
Europe is expected to account for a key share of the global first and last mile delivery market. The growth is fueled by early uptake of advanced automation solutions in transport and logistics in various end-use industries.

First and Last Mile Delivery Market: Competition Landscape

Top players are focusing on offering cutting-edge logistics solutions as part of competitive strategies in the first and last mile delivery market. Some of the key players are Transtech Logistics, Swift Transport, Procet Freight, DB SCHENKER, TNT Express, Tuma Transport, Interlogix Pty. Ltd., United Parcel Service Inc., J&J Global Limited, J&J GLOBAL LOGISTICS LIMITED, DHL Global Forwarding, and FedEx Corporation.

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First and Last Mile Delivery Market Segmentation

Type

Dry Goods
Postal
Liquid Goods

Vehicle Type

Light Duty Vehicle
Medium Duty Vehicle
Heavy Duty Vehicle

End-use

Chemical
Pharmaceutical and Healthcare
FMCG
Hi-tech Product Industry
Food and Beverage
Others

Regions

North America
Europe
Asia Pacific
Middle East & Africa
South America

Countries

U.S.
Canada
Mexico
Germany
U.K.
France
Spain
Italy
Russia & CIS
China
India
Japan
ASEAN
South Korea
Brazil
Argentina
GCC
South Africa

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