, 2022-12-08 16:30:00,
DUBLIN, Dec. 8, 2022 /PRNewswire/ — The “Last Mile Delivery Market By Service Type, By Vehicle Type, By Mode of Operation, By Delivery Mode, By Application, By Destination: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added to ResearchAndMarkets.com’s offering.
According to this report the last mile delivery market was valued at $131.5 billion in 2021, and is estimated to reach $288.9 billion by 2031, growing at a CAGR of 8.13% from 2022 to 2031.
Last mile delivery is the last step of delivering of goods and services, when parcel is moved from transportation hub and en-routed for final destination at retail store or personal residence of customer. The focus of last mile delivery companies is mainly on delivery of good to the end-user as fast as possible. The most efficient and cost-efficient manner of shipping is transportation of goods through rail networks and container ships. However, goods arrive at a high-capacity ports, they must be transported to the last destination.
This last phase of supply chain is less efficient and comprises major part of total cost to move goods from transportation hub to destination and this problem is termed as Last Mile Problem. At present, retailers have started the search for alternatives to meet the customers need as traditional methods of delivery are not successful in all the regions. Transportation partners have started looking for delivery alternatives such as local regional…
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