Last Mile Delivery Market Research Report: By Service (B2C, B2B), Application (E-commerce, Package Delivery) – Global Industry Analysis and Growth Forecast to 2030 The Huge Investments Made By Various venture capitalists in last mile delivery services are fueling the expansion of the global last mile delivery market.
New York, March 15, 2021 (GLOBE NEWSWIRE) – Reportlinker.com Announces the Publication of the “Last Mile Delivery Market Research Report: By Service, Application – Global Industry Analysis and Growth Forecast to ‘in 2030’ – https: // www .reportlinker.com / p06036114 /? utm_source = GNW
The market is seeing a sharp increase in the number of start-ups that are heavily funded by various venture capitalists to expand their businesses. For these reasons, the last mile delivery market is expected to show a CAGR of 20.3% between 2020 and 2030, according to the report.
According to the app, the last mile delivery market is categorized into package delivery, e-commerce, and others. Among these, the e-commerce category has experienced the strongest growth in the market in recent years. This was due to the presence of a large customer base and the change in purchasing behavior of people and their huge expectations regarding product deliveries. People increasingly expect free shipping and fast product deliveries and availability of products at affordable and competitive prices.
Geographically, the last mile delivery market is expected to experience the fastest growing Latin America, Middle East & Africa (LAMEA) region in the coming years. This will be due to rising gross domestic product (GDP) and increasing disposable income of people living in LAMEA developing countries such as Mexico and Brazil. Additionally, the growing number of last mile grocery and food delivery start-ups and the growing popularity of omnichannel retail are propelling the market advancement in this region.
Players operating in the global last mile delivery market are increasingly focusing on business mergers and strategic partnerships to stay competitive. For example, Microsoft Corporation and FedEx Corporation launched a collaboration in May 2020 to improve their operations. In addition, this collaboration aims to combine FedEx’s global logistics and digital network and Microsoft’s intelligent cloud solutions. This collaboration will allow companies to have better control and better understand the movement of products around the world.
The COVID-19 pandemic is severely hampering the progress of the last mile logistics industry. In addition, the imposition of blockages and downsizing have caused disruption in the last mile delivery market. However, the increasing penetration and digitization of the internet and the growing number of product delivery orders, due to the growing popularity of online shopping, especially during the pandemic, is fueling the expansion of the market.
Read the full report: https://www.reportlinker.com/p06036114/?utm_source=GNW
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