The last-mile delivery market size in North America is expected to grow by USD 59.81 billion during 2021-2025, according to the new report from Technavio. This marks a significant market slow down compared to the 2020 growth estimates due to the impact of the COVID-19 pandemic, in the first half of 2021. In addition, the report projects the market to accelerate at a CAGR of almost 16%.
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The last-mile delivery market in North America is driven by the premiumization of goods and merchandise delivery. In addition, the premiumization of goods and merchandise delivery is anticipated to boost the growth of the Last-Mile Delivery Market in North America.
Premiumization in the logistic services market refers to the premium price paid by the customer for faster deliveries. It has been identified that about one-fourth of the online retail customers are willing to pay a considerable premium charge for the same-day or instant delivery of purchased goods. Perishable goods such as medical or pharmaceutical products, and agricultural products require immediate consumption. As a result, consumers pay a higher price for last-mile delivery services. Hence, the premiumization of goods and merchandise delivery will drive the growth of the last-mile delivery market in North America during the forecast period.
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