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Last Mile Delivery Market Will Hit USD 121.2 Billion Revenue by 2030, Says P&S Intelligence
Furthermore, with the enhanced website experience, rise in trust among online customers, and the level of convivence that is offered to online buyers, e-commerce has become incredibly popular in the last few years.
In 2022, the B2B category had an approximately 50% revenue share, and it is projected to continue its dominance in the future. This can be ascribed to the numerous benefits provided by online retailers to fascinate B2B consumers, including easy payment alternatives, doorstep delivery of heavy parts decreased management expenses, and fast delivery.
Moreover, B2C sales are projected to grow at the higher pace in the years to come. This can be primarily ascribed to the development of organized and omnichannel retailing, snowballing technical knowledge about the usage of online platforms and smartphone apps, and changing consumer purchasing behavior.
The logistics and transportation markets are witnessing several changes with the integration of the real-time tracking technology. IoT is becoming dominant within numerous industries, with logistics and transportation among the most significant in this regard. To assist businesses in fulfilling the growing needs of customers, last mile delivery service providers are now offering real-time tracking functionality throughout the dispatch procedure.
In 2022, North America generated approximately $9 billion due to the high acceptance level of enhanced technologies in the continent and the higher effectiveness promise of last mile deliveries.
Moreover, Canada and the U.S. are among the key markets for e-commerce and last mile logistics. As per a report, in the U.S., there were almost 2.14 billion online buyers in 2022, who spent $10.7 billion on Cyber Monday.
The U.S. market holds the dominating position in the region, and it will grow at a rate of about 20% in the years to come. Furthermore, the existence of a large number of businesses that provide last mile delivery services, which are one of the facilities highly needed in the nation, is a key factor driving the market.
In the coming years, the fastest growth in the revenue generated from these services will be witnessed in LAMEA countries. With their burgeoning e-commerce sectors, enhancing logistics infrastructure, and rising internet and smartphone penetration,
Brazil , Mexico ,
South Africa , the U.A.E., and other regional countries offer countless opportunities to service providers.
P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
Prajneesh Kumar
P&S Intelligence
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