Global e-commerce industry and premiumization of goods and merchandise delivery is boosting the Last Mile Delivery Market |Forecast for 2023-2027|Technavio
The Last Mile Delivery Market is a billion-dollar market in the making as it is likely to experience steady growth because of the growing global e-commerce industry followed by premiumization of goods and merchandise delivery. Rising at a CAGR of 15.62%, the market is estimated to have an incremental growth of USD 165.6 Bn revenue growth from 2023 to 2027.
Senior Analyst at Technavio quoted ~ "the rising global e-commerce industry is the key factor driving the global last-mile delivery market "
Billion-Dollar Last Mile Delivery Market Analysis
As per data, the e-commerce industry in China and the US is growing rapidly. For instance, e-commerce retail sales in the US increased by 39% in Q1 2021 over that in Q1 2020, whereas total retail sales showed a growth of only 16.4% in Q1 2021.
When it comes to the market challenges, operational challenges for last-mile delivery companies and risks associated with damage to and theft of packages are expected to hinder the growth of the market. However, a strong focus on technological advances and a strong focus on offering services to specific end-user segments will have a positive impact on the last-mile delivery market during the forecast period.
Technavio’s analysis of the Last Mile Delivery Market also includes:
