Last Mile Delivery Market: What are the Key Growth Factors?

The increasing adoption of the real-time tracking technology, due to the surging integration of the internet of things (IoT) in the transportation and logistics sector, is one of the major factors fueling the demand for last mile delivery solutions across the globe. The tracking technology allows customers to gain real-time insights into the location of their packaging. On the other hand, the delivery-partner-centric real-time tracking technology allows businesses to get a holistic view of the efficiency of logistics.

Last Mile Delivery Market


This, in turn, inspires them to become more customer-centric. The adoption of this technology has propelled the expansion of the e-commerce industry. It has become imperative for both logistics service providers and e-commerce players to have a well-developed information technology (IT) infrastructure in place for enabling the efficient tracking of transactions and the movement of shipments at all times. Besides this, the huge funding being provided to last mile delivery start-ups is also fueling the last mile delivery market advancement.

The last mile delivery market is expected to witness a CAGR of 20.3% during the forecast period (2020–2030) due to the surging use of omnichannel retailing and increasing penetration of the internet in developing countries, such as India, Indonesia, and Thailand. Moreover, the booming e-commerce industry due to the soaring trust among online customers, improving website experience, and rising comfort level for online shoppers will facilitate the market growth. Owing to these factors, the market value is projected to rise from$15.7 billion in 2019 to $117.9 billion by 2030.

In 2019, the North American last mile delivery market generated the highest revenue due to the presence of Canada and the U.S., which are two of the most-predominant users of last mile delivery services in the world. Several enterprises in the region are entering the last mile logistics niche, as it is one of the fastest-growing sectors in North America. This is due to the rapid adoption of novel technologies and the high efficiency of last mile delivery services.

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The Latin American, Middle Eastern, and African (LAMEA) market will register the fastest growth during the forecast period due to the rapid economic development in countries like Brazil and Mexico. The logistics and e-commerce industry in these countries is expected to observe a considerable improvement in the forecast years, which will, in turn, facilitate the market growth. Brazil is expected to register the highest adoption of last mile delivery services in this region owing to the existence of a highly adaptive customer base and constant technological innovations.

Thus, the surging investments in logistics startups and increasing integration of the real-time tracking technology in this industry will fuel the market growth in the foreseeable future.

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