Last Mile Delivery Market in North America by Service and Geography - Forecast and Analysis 2020-2024
Last Mile Delivery Market in North America: About this market
Technavio’s last mile delivery market analysis considers sales from both business to customer (B2C) and business to business (B2B) services. Our analysis also considers the sales of last mile delivery in the US and Canada. In 2019, the B2C segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as same-day delivery and package returns will play a significant role in the B2C segment to maintain its market position. Also, our last mile delivery market report looks at factors such as growth of e-retailing, rise in the number of new market entrants, and premiumization of goods and merchandise delivery. However, operational challenges, risks associated with package damage and theft, and introduction of alternate delivery services may hamper the growth of the last mile delivery industry over the forecast period.
Last Mile Delivery Market in North America: Overview
Growth of e-retailing
Online retailing has changed the way customers and retailers interact with each other. Many people prefer to shop online due to ease of making purchases and the convenience of at-home-shopping. Major logistics providers such as XPO Logistics, UPS, and FedEx are offering last mile delivery services to small and large enterprises. This demand for online retailing will lead to the expansion of the last mile delivery market at a CAGR of over 14% during the forecast period.
Strong focus on technological advances
The adoption of technological advances allows consumers to manage and modify retail deliveries with the help of easily accessible online tools. These tools provide greater transparency with complete control over package delivery. Technological advances, such as real-time tracking, allow consumers to manage and modify retail deliveries. Other technologies that have already witnessed wide-scale implementation in last mile logistics include online delivery status updates, real-time order tracking, and delivery time estimations. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the last mile delivery market during the forecast period 2020-2024, click here.
With the presence of several major players, the last mile delivery market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading last mile delivery vendors, that include CEVA Logistics AG, Deutsche Bahn AG, Deutsche Post DHL Group, DSV AS, FedEx Corp., GEODIS SA, North American Logistics Holdings, United Parcel Service Inc., United States Postal Service, and XPO Logistics Inc.
Also, the last mile delivery market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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