First and Last Mile Delivery Market worth US$ 1.6 Billion 2029 with a CAGR of 17.6 %

 

The report "First and Last Mile Delivery Market, By Cargo Type (Dry Goods, Postal, and Liquid Goods), By Vehicle Type (Light Duty Vehicle, Medium Duty Vehicle, and Heavy Duty Vehicle), By End-use (Chemicals, Pharmaceutical & Healthcare, FMCG, Hi-tech Product Industry, Food and Beverage, and Others), and Region - Global Forecast to 2029" First and last mile delivery market is projected to grow from US$ 0.4 billion in 2020 to US$ 1.6 billion by 2029. Supply chain management providers are adopting innovative and latest technologies in order to enhance their availability, elasticity, sustainability, and efficiency which in turn are driving growth of the global first and last mile delivery market. Several customers are willing to pay additional or extra charge for delivery or for immediate delivery, which in turn is projected to fuel growth of the global market over the forecast period. Integration of major technologies such as smart logistics and warehousing, and critical analysis of information are anticipated to increase the demand for the global market in different industries over the forecast period. Additionally, adoption of cyber physical system-based service and use of sophisticated and metheuristic algorithms are boosting the productivity of the global first and last mile delivery market. Furthermore, increase in urbanization such as concentrated consumer market, drastic change in consumer behavior, and increase in use of digital platforms for purchase are likely to create opportunity for growth of the global market.

Key Highlights:

• On June 2019, FedEx Corporation has recognized as one of the 50 most community-minded companies in the United States.
• On November 2018, Swift Transport Company LLC has announced that it has expanded its employee education program and also offers free tuition to Southern New Hampshire University

Key Market Insights from the report:          

The first and last mile delivery market accounted for US$ 0.4 billion in 2020 and is projected to register a moderate CAGR of 17.6 % over the forecast period. The market report has been segmented on the basis of application, end-user, and region.

• By cargo type, the global first and last mile delivery market is segmented into dry goods, postal, and liquid goods.
• By vehicle type, the global first and last mile delivery market is bifurcated into light duty vehicle, medium duty vehicle, and heavy duty vehicle. Light duty vehicle type segment accounted for a major share in terms of revenue, owing to retail price, acceleration, fuel economy, interior volume, and ease of operation of light duty vehicles in urban areas.
• By end-user, the global first and last mile delivery market is classified into chemicals, pharmaceutical & healthcare, FMCG, Hi-tech product industry, food and beverage, and others. The FMCG end-use segment is anticipated to hold a major share of the market during the forecast period. Shift of preference of urban consumers from essential to premium products, attractive supply chain solutions provided by logistic companies, and increasing accessibility of online stores fuel growth of FMCG segment over the forecast period.
• By region, China is a major exporter and importer of goods, owing to positive economic environment, introduction of new infrastructure and the rise of e-retailing. China is anticipated to expand the logistic industry in the country, which in turn is expected to drive growth of global market in China over the forecast period. Furthermore, expansion of the e-commerce industry in India and increased government spending on development of infrastructure are anticipated to propel growth of the target market in the country over the forecast period. 

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on " Global First and last mile delivery Market”, By Cargo Type (Dry Goods, Postal, and Liquid Goods), By Vehicle Type (Light Duty Vehicle, Medium Duty Vehicle, and Heavy Duty Vehicle), By End-use (Chemicals, Pharmaceutical & Healthcare, FMCG, Hi-tech Product Industry, Food and Beverage, and Others), and by Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa)- forecast till 2029

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https://www.prophecymarketinsights.com/market_insight/Global-First-and-Last-Mile-985

The prominent player operating in the global first and last mile delivery market includes Cargo Carriers Limited, FedEx Corporation, United Parcel Service Inc., Tuma, Shawn Transport, Swift Transport Company LLC, Interlogix Pty. Ltd., Transtech Logistics, Procet Freight CC, Concargo Private Limited, and J&J Global Limited.

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