III. Industry Analysis

• The global last-mile delivery market size in terms of revenue was worth $108.10 billion in 2020 and is expected to reach $200.42 billion in 2027, growing at a CAGR of 9.29% from 2021 to 2027.
• The last-mile delivery market size in North America is expected to grow by USD 59.81 billion during 2021-2025.

The rise in online orders has increased the demand for last-mile delivery, which has upsurged the growth of many companies in this field. A large number of consumers are ready to pay extra charges for a fast delivery which has led to the increasing demand for the last mile delivery and is projected to increment the market growth in the near future.

With the increase in worldwide shipment via digitally enhanced supply chains and Omni channel modes, ultramodern last-mile solutions are becoming increasingly important to shippers and customers. Furthermore, numerous service providers are seeing changes in integration and process standardization, guest buying preferences, and preferred modes of delivery, all of which are influencing new investment priorities. A huge transformation is taking place in the delivery industry, with companies looking at alternatives, such as delivery lockers, pickup points, crowdsourced deliveries, drone deliveries, and autonomous vehicles. The evolution of technology is reshaping the entire supply chain and reinventing the industry. Technology is becoming a crucial enabler in increasing efficiency and reaching consumer expectations.