Last mile delivery or logistics has emerged as a crucial transport infrastructure that retailers and shippers worldwide have increasingly focused on, given the increasing imprint on profit margins. The past few decades have witnessed businesses of all hues and across industries leaning on strengthening last mile delivery infrastructure. E-commerce companies in particular have in recent years made enormous investments on consolidating distribution channels to meet changing consumer expectations and cut down on last mile delivery costs.
Concurrently, diverse last mile carriers have proliferated for meeting the demands of small and big shippers to manage the complexity of logistics on one hand, and eventually endowing their clients in the last-mile delivery market a competitive edge. Subsequently, a number of deliver-from-store last mile services are being evaluated by shippers to offer real-time tracking options to consumers across delivery of goods from their distribution units to final destinations.
Last-mile Delivery Market: Drivers, Current Prospects, Lucrative Avenues
Spectacular strides made in e-commerce sales in urban spaces in various developing and developed regions are shaping the evolution of the last mile delivery market. In the near future, the parcel shipment is expected to grow by several times and become multibillion dollar opportunities in the last-mile delivery market. The rapid emergence of omnichannel supply chains in some of the developed economies is another key trend offering value-grab opportunities to businesses in the logistics and transportation sector. Another key trend driving investments in last mile delivery platforms is growing preference of subscription-based services for repeat purchases.
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The onset of COVID-19 pandemic imparted a thrust to online shopping across various regions. Several players in the last-mile delivery market were quick to grab the opportunity. Consequently, e-commerce companies have ploughed in dollars to boost their services by partnering with premium service providers. Likewise, some players with financial might are expanding their fleet of vehicles. A case in point is focus on white glove delivery, where last mile logistics providers were able to garner competitive advantage. Advancements in technologies extended the horizon for retailers and logistic partners. Same-day delivery has become a new trend of capturing value from customers in the last mile delivery market.
Last-mile Delivery Market: Competition Landscape
E-commerce companies are aiming at various delivery innovations to position them uniquely in the minds of consumers, thus expanding the profitable avenues for players in the last mile delivery market. Growing investments in automated customer fulfilment centers and real-time inventory tracking software are two examples.
The use of bots and drones has opened a new proposition for market players to capture value from customers and consumers in the last-mile delivery market. Especially during the outbreaks of the pandemic, these technologies made contactless delivery of essential items a viable last-mile delivery model in various countries
On the other hand, AI-based delivery robotics companies are climbing on the bandwagon to offer retailers and e-commerce companies to subsidize deliveries and offer competitive gains to early adopters. A start-up aiming at automating industrial, urban, and rural logistics, TeleRetail, is keen on capitalizing on the avenue. Such developments expand the prospect in the last-mile delivery market.
Some companies are striving to adopt technologies that enable them to reduce the carbon footprint across last-mile delivery. FedEx Corporation, a prominent player, is focusing on offering FedEx Ground to optimize last-mile residential deliveries of heavy goods with safety and sustainability in mind.
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Some of the last-mile delivery market are Ekart Logistics, Amazon.com, XPO Logistics, FedEx Corporation, DHL International GmbH, United Parcel Service of America, Inc., China Post Express Logistics Co. Ltd, Cainiao Logistics, STO Express Co.Ltd, and Deppon Logistics Co. Ltd.
Last-mile Delivery Market: Regional Landscape
North America has been a notably lucrative last-mile delivery market. Growing number of collaborations among players for shared delivery logistics and a steady expansion of warehouses and logistics are key propellers of revenue generation in the regional market. Asia Pacific is also emerging as hotbed of opportunities. The rise in e-commerce sales is a key driver for new revenue streams in the Asia Pacific last-mile delivery market.
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