Technavio Forecasts Worldwide Last Mile Delivery Market to Reach USD 59.81 billion between 2020 and 2025
NEW YORK, Jan. 14, 2022 /PRNewswire/ -- According to the latest research report, "Last Mile Delivery Market in North America by Service and Geography - Forecast and Analysis 2021-2025", the last mile delivery services industry is changing and is likely to grow at a moderate rate over the next several years. The last mile delivery market share is expected to increase by USD 59.81 billion from 2020 and 2025, and the market's growth momentum will accelerate at a CAGR of almost 16%. The market is fragmented, with a large number of international and regional road freight transportation companies competing.
Vendors will try to incorporate various solutions to enhance their services and increase their market shares, especially because of the growing B2C e-commerce industry particularly in countries such as US and Canada.
Last Mile Delivery Market Report Highlights:
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Regional Market Analysis
During the projection period, the last mile delivery market in the United States is expected to increase steadily. The market will grow due to factors such as the large volume of e-retail purchases and the rise in the number of customers opting for rapid and seamless delivery services. The demand for reverse logistics in the last mile delivery model is being driven by a large number of businesses offering free returns and exchanges.
Apart from the rapid economic growth, the other key reasons for the increasing last mile delivery market's growth in the US is:
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Key Vendors and Vendor Strategies
The vendors in the market are constantly focusing on broadening their product portfolio through expanding their product offerings. Additionally, vendors are focusing on expanding their presence in new regions.
Download our free sample report to get a brief understanding of various other vendors and the vendor's strategies.
Key Market Drivers
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