First and Last Mile Delivery Market

First and Last Mile Delivery Market to Surpass US$ 1,100 Mn by 2026
Transparency Market Research has published a new report titled, “First and Last Mile Delivery
Market (Vehicle Type: Light Duty Vehicle, Medium Duty Vehicle, and Heavy Duty Vehicle;
Cargo Type: Dry Goods, Postal, and Liquid Goods; End-use: Chemical, Pharmaceutical &
Healthcare, FMCG, Hi-tech Product Industry, Food and Beverage, and Others) – Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the
report, the global First and Last Mile Delivery Market is projected to surpass US$ 1,100 Mn by
2026, expanding at a CAGR of 14.77% during the forecast period.
According to the report, the global first and last mile delivery market is likely to be driven by a
range of macroeconomic and industry-specific factors. Asia Pacific is expected to be at the
forefront of global demand, with the market in the region expanding at a CAGR of 18.23%
between 2018 and 2026.
Request A Sample –
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=60984
The first and last mile delivery of product distribution is vital to any merchant. The first mile
always indicates the movement of goods from retailer to courier service or anyone who
supplies the goods to the end-user or final distributer, while last mile denotes the final stage of
movement of goods to its final customers.
Supply chain management providers are adopting innovative and latest technologies in order
to enhance their availability, elasticity, sustainability, and efficiency. Several customers are
willing to pay additional or extra charge for delivery or for immediate delivery, which in turn is
projected to fuel the demand for first and last mile delivery in the near future. Adoption of
cyber physical system-based service and use of sophisticated and metaheuristic algorithms are
boosting the productivity of fist and last mile delivery solutions. Digitization in supply chain,
such as integration of major technologies such as smart logistics and warehousing, and critical
analysis of information are anticipated to increase the demand for first and last mile delivery in
different industries. This, in turn, is likely to propel the first and last mile delivery mile market
during the forecast period. Furthermore, increase in urbanization which leads to a more
concentrated consumer market, drastic change in consumer behavior, and increase in use of
digital platforms for purchase are likely to propel the first and last mile delivery market during
the forecast period.
In terms of vehicle type, the global first and last mile delivery market has been bifurcated into
light duty vehicle, medium duty vehicle, and heavy duty vehicle. In terms of revenue, the light
duty vehicle segment accounted for a major share of the market in 2017. Moreover, retail price,
acceleration, fuel economy, interior volume, and ease of operation of light duty vehicles in
urban areas prompts most logistic companies to prefer light duty vehicles. Road logistics and
transportation activities are increasing across the globe. However, road transport contributes to
significant share of carbon emission globally. Stringent emission norms and development of
electric vehicles by OEMs are likely to boost the light duty vehicle segment during the forecast
period.
In terms of end-use, the first and last mile delivery market has been segregated into chemicals,
pharmaceutical & healthcare, FMCG, food and beverage, hi-tech product industry, and others.
The FMCG segment is anticipated 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, increase in accessibility of online stores, and
expansion of e-commerce industry are projected to fuel the FMCG segment during the forecast
period.

Download Report