The adoption of automated technologies into logistics services and rising demand for value-added services and adequate last mile deliveries are the key factors driving the growth of the last mile delivery market. Moreover, the rapid growth of the e-commerce sector, owing to the increase in smartphones and internet penetration is anticipated to boost the last mile delivery market growth in the near future. Automation is highly potential to raise the efficiency level in logistics services also. With continuous advancements in technologies, utilization of parcel locker, parcel box, drones, robotics, and smart door lock are the dominant technologies. At present, packages/parcels can be transported through drones or stand-alone vehicles, due to automated technologies develop to make package delivery convenient and quick. About the fact, deliveries get affected by the cost of labor, shifts, and availability. However, delivery through robotics is capable of addressing all challenges faced during the traditional method of shipments as these robotics ensures parcel delivery within a day. Such integration of technologies into logistics services, assist the logistics companies in delivering every consumer’s packages on time and securely.
The last mile delivery market by application is led by fresh products in the year 2018 and is anticipated to continue its dominance during the forecast period. The food industry is growing at a rapid pace year-on-year driven by rising demand for processed and perishable goods. The food industry’s potential is very high and gives ample opportunities to the logistics industries. Last mile delivery is the final process in the logistics industry, which plays a significant role in the food industry. Use of special containers to maintain temperature for fresh products is an essential part. Therefore, providers of last mile services ensure proper storage and distribution of these food items to its destination center by using all appropriate containers. And these players also use an advanced platform which gives users access to have a check on the entire delivery process.
Germany dominated the last mile delivery market in 2018 with the second highest market share and is expected to dominate the market with the highest share in the Europe region through the forecast period. Germany is the major trading partner of most economies in Western Europe, which translates into a surge in export production. 18 out of 33 Machinery & Equipment leaders globally comprises manufacturing plant & machinery from Germany. The country is highly industrialized, and leading industries include chemical, automotive, electronics, as well as the food & beverage industry. The figure given below highlights the revenue share of the rest of Europe in the last mile delivery market in the forecast period:
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 677.0 Million |
| Market Size by 2027 | US$ 2,491.8 Million |
| Global CAGR (2019 - 2027) | 16.1% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Offerings: Technology
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The List of Companies