According to Acumen Research and Consulting, the global first and last mile delivery market size is estimated to grow at CAGR above 14% over the forecast time frame. rising number of last mile and first mile delivery companies and start-ups, rapid growth in the logistics industry, changing standards of living, expansion of transport facilities, growing penetration of smartphones, increased disposable income, increasing demand for automation and advancements in technology are some of the key factors that are supplementing the first and last mile delivery market growth across the globe. First mile means the transfer of various products from a vendor to a courier service or to anyone who is wanted to move goods to their final users. The Asia Pacific market is projected to grow at noteworthy growth rate over the forecast period due to the huge population base and continuous development of the online retail industry. Continuously changing lifestyle and growth of transportation sector are playing the major roles in the growth of regional first and last mile delivery market. Augmented usage of advanced technology services and increasing disposable income in the region are also expected to boost the growth of the regional market.
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Digitization in Supply Chain and Growing Usage of Smartphone are Anticipated to Witness a High Demand over the Forecast Period
Digitization in supply chain including integration of major technologies such as critical analysis of information and smart logistics and warehousing are projected to boost the demand for first and last mile delivery in different sectors. This factor is likely to spur the global first and last mile delivery mile market over the forecast time frame. Providers of supply chain management are rapidly adopting advanced and recent technologies in order to improve their efficiency, availability, sustainability and elasticity. A number of customers are keen to pay extra charge for quick delivery, resulting in the high demand for first and last mile delivery and is anticipated to supplement the overall market growth in coming years. Moreover, an adoption of service based on cyber physical system and use of sophisticated algorithms are increasing the productivity of fist and last mile delivery services. In addition, augment in urbanization which is resulting in increase in penetration of digital platforms for purchase and extreme change in consumer behaviour are some of the major factors forecasted to help the global first and last mile delivery market during the forecast period.
Asia Pacific to Continue to Dominate the Global First and last mile delivery Market during the Forecast Period
On the basis of geography, the global first and last mile delivery market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific is expected to have uppermost market share in the global first and last mile delivery market. Asia Pacific is forecasted to grow at highest CAGR over the forecast period owing to the huge population base and continuous development of the online retail industry. Furthermore, factors such as emergence of new infrastructure, positive economic environment and the growth of e-retailing in China and India are expected to expand the logistic industry in the region, resulting in rapid growth of regional first and last mile delivery market. On the other hand, expansion of the e-commerce industry in and improved government expenditure on infrastructure development are forecasted to supplement the first and last mile delivery Market in the region throughout the forecast period. North America is also anticipated to witness substantial growth during the forecast time frame due to the early adoption of e-commerce sites and growing adoption of innovative delivery services in the region.
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United Parcel Service Inc., Swift Transport and DHL Global Forwarding are Likely to Continue to Lead the Global First and Last Mile Delivery Market
The first and last mile delivery market is consolidated with limited number of manufacturers. The company profiling of key players in the market includes company overview, major business strategies and revenues. The key players of the market are Cargo Carriers Limited, United Parcel Service Inc., Swift Transport, Interlogix Pty. Ltd., Transtech Logistics, TNT Express, Tuma Transport, DB SCHENKER, FedEx Corporation, Concargo Private Limited, Procet Freight, J&J Global Limited, Kerry Logistics Network Limited, DHL Global Forwarding and KART.
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